Lockheed Martin Corporation 401(k) Review & Grade
Lockheed Martin Corporation Performance Sharing Plan for Bargaining Employees
Bethesda, MDManufacturing18,469 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$4,831Employer $ per active participant
$6,826Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$3.0BNet plan assets, end of year
$138,588Average balance per account
Score breakdown
- Employer generosity21.3 / 5043th percentile for employer $ per participant
- Low cost23.6 / 2594th percentile for low admin cost vs. same-size plans
- Employee saving5.4 / 1536th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score60 / 100 · Grade B
This plan vs. peers
Peers: Manufacturing plans with 10,000+ active participants (151 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 43th |
| Lower admin cost | 94th |
| Employee saving | 36th |
| Peers that auto-enroll | 69% |
Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Lockheed Martin put in about $4,831 per active participant, below the typical peer ($5,480). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $89,228,770 |
| Participant (employee) contributions | $126,071,774 |
| Other contributions (incl. rollovers in) | $9,989,194 |
| Administrative expenses paid from the plan | $338,092 |
| Investment advisory & management fees | $276,665 |
| Benefits paid out | $192,811,468 |
| Net assets, start / end of year | $2.2B / $3.0B |
| Active participants, start / end of year | 18,370 / 18,568 |
| Participants with account balances | 21,552 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Mitchell & Titus, LLP |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250728202436NAL0003649264001, received 2025-07-28, EIN 52-1893632, plan #055, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
Other 401(k) plans filed under this employer's EIN
ALockheed Martin Corporation Salaried Savings PlanCLockheed Martin Corporation Hourly Employee Savings Plan PlusDLockheed Martin Corporation Operations Support Savings Plan
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