Back to top
FORM 5500 DATA

BAE Systems Employees' Saving and Investment Plan

Overview

Plan Information

  • Plan Year01/01/2015 — 12/31/2015
  • Date of Plan01/01/1987
  • Net Assets as of 12/31/2015 $5,713,493,068
  • Plan Number3
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2015

  • Active (Eligible) Participants30,579
  • Retired or separated participants receiving benefits243
  • Other retired or separated participants entitled to future benefits13,982
  • Subtotal44,804
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits319
  • Total45,123
  • Total number of participants as of 01/01/201545,752
  • Number of participants with account balances41,836
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested293

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address1101 Wilson Blvd., Suite 2000
  • CityArlington
  • StateVA
  • Zip22209
  • Telephone(703) 312-6100
  • EIN22-3537950
  • Industry Code336410

Plan Administrator Information

  • Administrator NameBae Systems Administrative Committee
  • Address1101 Wilson Blvd., Suite 2000
  • CityArlington
  • StateVA
  • Zip22209
  • Telephone(703) 312-6100
  • Administrator EIN52-2267705

Audit Information

  • Audit StatusAudited
  • AuditorKPMG LLP
  • Auditor EIN13-1673581
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
2F ERISA section 404(c) Plan This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J Code section 401(k) feature A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
2K Code section 401(m) arrangement Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
2T Participant-directed Account Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
3F Leased Employees Plan sponsor(s) received services of leased employees, as defined in Code section 414(n), during the plan year.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $50,000,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $345,101,226
Contributions $364,352,343
Cash Contributions $364,352,343
Cash from Employers $123,800,715
Cash from Participants $226,302,046
Others (including rollovers) $14,249,582
Noncash Contributions $0
Total Earnings on Investments $-10,808,518
Total Interest $11,229,587
Interest-Bearing Cash $13,453
U.S. Government Securities $2,987,844
Corporate Debt Instruments $7,414,086
Loans (other than to participants) $143,782
Participant Loans $0
Interest from Other Investments $670,422
Total Dividends $115,368,807
Preferred Stock $198,056
Common Stock $8,642,290
Rents $0
Net gain (loss) on sale of assets $6,357,153
Aggregate Proceeds $350,443,247
Aggregate Carrying Amount $344,086,094
Total Unrealized Appreciation (depreciation) of assets $-98,870,553
Real Estate $0
Other $-98,870,553
Net investment gain (loss) from common/collective trusts $-8,466,915
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $-36,426,597
Other Income $-8,442,599
Expenses $454,721,845
Total Benefit Payments $443,916,914
Directly to participants or beneficiaries, including direct rollovers $443,916,914
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $10,804,931
Professional Fees $591,639
Contract Administrator Fees $5,734,156
Investment Advisory and management fees $4,086,455
Other Administrative Fees $392,681
Net Income $-109,620,619
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2015 12/31/2014 Change YOY
Total Assets $5,730,649,983 $5,811,450,070 -1.39%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $13,087,945 $14,197,281 -7.81%
Employer Contributions $1,042,456 $0 0.0%
Participant Contributions $1,768,010 $0 0.0%
Other Contributions $10,277,479 $14,197,281 -27.61%
General Investments $146,915,688 $157,366,023 -6.64%
Interest-bearing cash $33,241,997 $25,699,004 29.35%
U.S. Government Securities $113,673,691 $131,667,019 -13.67%
Corporate Debt Instruments $138,285,641 $127,176,123 8.74%
Preferred $0 $0 0.0%
All Other $138,285,641 $127,176,123 8.74%
Corporate Stocks $554,771,702 $647,661,031 -14.34%
Preferred $2,687,366 $2,450,676 9.66%
Common $552,084,336 $645,210,355 -14.43%
Partnership/joint venture interests $4,621,484 $7,836,990 -41.03%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $77,886,065 $76,469,264 1.85%
Value of interest in common/collective trusts $438,999,847 $403,289,946 8.85%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $3,739,293,997 $3,709,170,525 0.81%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $616,787,614 $668,282,887 -7.71%
Employer-related Investments $0 $0 0.0%
Employer Securities $0 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $17,156,915 $7,157,533 139.70%
Benefit Claims Payable (1) $1,909,980 $860,146 122.05%
Operating Payables (1) $15,246,935 $6,297,387 142.12%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $5,713,493,068 $5,804,292,537 -1.56%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Galliard Capital Management, Inc.

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Financial Engines Inc. Investment advisory (participants), Investment management, Other fees NONE $4,681,222 $0 $4,681,222
Time Square Capital Management LLC Investment management NONE $2,110,407 $0 $2,110,407
Dodge & Cox Investment management NONE $1,976,048 $0 $1,976,048
Aon Hewitt Actuarial, Consulting (general), Consulting (pension), Consulting fees NONE $639,658 $0 $639,658
State Street Bank and Trust Company Accounting (including auditing), Custodial (securities), Trustee (bank, trust company, or similar financial institution), Trustee (directed), Float revenue, Other fees NONE $488,650 $0 $488,650
Groom Law Group Legal NONE $373,339 $0 $373,339
Hewitt Financial Services LLC Securities brokerage, Finders' fees/placement fees, Distribution (12b-1) fees NONE $291,746 $21,412 $313,158
Aon Hewitt Investment Consulting Investment advisory (plan), Consulting fees NONE $125,000 $0 $125,000
KPMG LLP Accounting (including auditing) NONE $48,000 $0 $48,000
Peggy Edge, CPA Accounting (including auditing), Recordkeeping and information management (computing, tabulating, data processing, etc.), Other services NONE $45,300 $0 $45,300
Total $10,779,370 $21,412 $10,800,782

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Financial Engines, Inc. Aon Hewitt Investment advisory (participants), Investment management, Other fees $1,167,885
Dodge & Cox See Attached List Soft dollars commissions Research and Brokerage Services for Soft Dollar Commissions. See Attached. $0
Hewitt Financial Services LLC Pershing LLC Finders' fees/placement fees Finder's Fees $6,477
Hewitt Financial Services LLC Multiple Mutual Fund Companies Distribution (12b-1) fees Aggregated Investment Manager Fund Fees. $14,935
Pershing LLC Multiple Mutual Fund Companies Shareholder servicing fees Shareholder Servicing Fees. $24,882
Pershing LLC Multiple Mutual Fund Companies Finders' fees/placement fees Finders Fees. $33,217
State Street Bank and Trust Company State Street Bank and Trust Company Float revenue Daily Sweep = Basis Point Net From The Yield of The Sweep Vehiche. $0
State Street Bank and Trust Company State Street Bank and Trust Company Other fees Foreign Exchange = Percentage of Revenue Is Allocated To The Business Unit. $0
State Street Bank and Trust Company State Street Bank and Trust Company Float revenue Overdraft Funding = Compensation Paid By The Party Responsible for The Overdraft. $0
State Street Bank and Trust Company State Street Bank and Trust Company Float revenue Uninvested Cash = Interest On Balance Is Earned Through Overnight Market Investments (Float Revenue). $0
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Wells Fargo Fixed Income Fund F Wells Fargo Bank Minnesota, N.A. DFE: Common/Collective Trust $282,016,963
Wells Fargo Short-Term Inv Fund S Wells Fargo Bank Minnesota, N.A. DFE: Common/Collective Trust $87,248,981
Wells Fargo Fixed Income Fund Q Wells Fargo Bank Minnesota, N.A. DFE: Common/Collective Trust $69,733,903
Total $438,999,847

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.