Overview

Plan Rating

BrightScope Rating
78
Lowest Rating in Peer Group
Average Rating in Peer Group
Highest Rating in Peer Group
0102030405060708090100
Lowest in Peer Group (11)
Average in Peer Group (65)
Highest in Peer Group (87)

Plan Description

Textron Savings Plan is a defined contribution plan with a profit-sharing component, 401k feature, and ESOP component. This plan has a BrightScope Rating of 78, placing it in the top 15% of all plans in its peer group. This plan is also in the top 15% of plans for Account Balances, Salary Deferral, and Total Plan Cost. Textron Savings Plan currently has over 35,700 active participants and over $3.5B in plan assets.

Did you know?

For the average 401k participant, the 9 point difference between this plan's BrightScope Rating (78) and the top rated plan (87) could equate to:
6
Additional years of work
79,640
Lost Savings
*The delay in retirement calculations apply solely to this defined contribution plan and do not take into account other retirement plans and programs offered by this employer. How is this calculated?

Plan Details

Plan Details Relevant details about the plan and the plan sponsor, including the address and industry of the plan sponsor and the size of the plan in assets and participants.

 
Plan data accurate as of 12/31/2015
Plan data has been audited by an Independent Qualified Public Accountant (IQPA).
Address 40 Westminster Street
  • Location
    Providence , RI
  • 02903
  • Industry
    Manufacturing
  • Administrator
    Joyce Lafond
  • Net Plan Assets
    $3,470,000,000
  • Total Participants
    36,000
  • Avg Account Balance
    $100,000

Plan Components

Component Ratings

Design

Total Plan Cost:
Lowest Fees
Company Generosity:
Above Average

Performance

Participation Rate:
Above Average
Salary Deferrals:
Great
Account Balance:
Great

Design

Total Plan Cost:
Low Fees
Company Generosity:
Average

Performance

Participation Rate:
Average
Salary Deferrals:
Average
Account Balance:
Average
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Investments

Investment Menu Stats

# of Investment Options

31

(Plan Average: 20)

Largest Funds in this Plan Allocation of Assets 1 YR Rank in Category
Textron Inc. Common Stock 28%
N/A
Vanguard Group Target Retirement 24%
N/A
Vanguard Institutional Index 11%
3%
Fund hidden
100%
Fund hidden
100%
Fund hidden
100%
Fund hidden
100%
View all funds in this plan

Providers

Plan Service Providers

SERVICE PROVIDER
Insurance Carrier
Various
Insurance Carrier
New York Life
Insurance Carrier
Jackson National Life
Insurance Carrier
Principal Financial Group
Insurance Carrier
Protective Life
Recordkeeper
Fidelity
Legal Counsel
Covington & Burling
Administration
Textron, Inc.
Auditor
Ernst & Young

Articles and Questions