Lockheed Martin Corporation 401(k) Review & Grade
Lockheed Martin Corporation Hourly Employee Savings Plan Plus
Bethesda, MDManufacturing8,693 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$2,273Employer $ per active participant
$4,471Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$1.2BNet plan assets, end of year
$122,058Average balance per account
Score breakdown
- Employer generosity16.5 / 5033th percentile for employer $ per participant
- Low cost24.4 / 2598th percentile for low admin cost vs. same-size plans
- Employee saving4.5 / 1530th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score48 / 100 · Grade C
This plan vs. peers
Peers: Manufacturing plans with 2,500–9,999 active participants (566 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 33th |
| Lower admin cost | 98th |
| Employee saving | 30th |
| Peers that auto-enroll | 70% |
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 $2,273 per active participant, below the typical peer ($3,452). 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.
- 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 | $19,759,683 |
| Participant (employee) contributions | $38,869,439 |
| Other contributions (incl. rollovers in) | $3,683,679 |
| Administrative expenses paid from the plan | $132,539 |
| Investment advisory & management fees | $108,458 |
| Benefits paid out | $178,122,959 |
| Net assets, start / end of year | $1.5B / $1.2B |
| Active participants, start / end of year | 10,760 / 6,626 |
| Participants with account balances | 9,593 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Mitchell & Titus, LLP |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250723141104NAL0008913138001, received 2025-07-23, EIN 52-1893632, plan #018, 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 PlanDLockheed Martin Corporation Operations Support Savings PlanBLockheed Martin Corporation Performance Sharing Plan for Bargaining Employees
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