Raytheon pension plan contact

Does Raytheon offer a pension?

Raytheon Co. offers defined benefit pension plans and defined contribution pension plans. With a defined benefit pension plan, retirees are given fixed payments when they reach retirement.

How much does Raytheon match on 401k?

If eligible, Raytheon Technologies matches a portion of your savings dollar-for-dollar, up to the first 3% of your eligible compensation that you save for each pay period through RAYSIP (up to the first 4% of your eligible compensation after five years of continuous employment with the company).

What is an excess pension plan?

An excess benefit plan is a nonqualified deferred compensation (NQDC) plan that provides supplemental retirement income benefits to employees whose benefits under the employer’s qualified retirement plan are limited by the application of Internal Revenue Code (IRC) Section 415.

Does Raytheon pay well?

Salary satisfaction

The average Raytheon salary ranges from approximately $38,470 per year for Material Handler to $155,404 per year for Section Manager. Average Raytheon hourly pay ranges from approximately $8.65 per hour for Senior System Engineer to $60.00 per hour for Senior Mechanical Designer.

Does Raytheon give bonuses?

Bonus details: Raytheon, a defense and manufacturing company, offers a sign-on bonus up to $40,000 to select candidates with top secret clearance, reports Glassdoor.

How much does Costco match on 401k?

The Company matches 50% of the employee’s contribution, up to a maximum employer matching contribution of $500 per year. The Company may also contribute a discretionary amount to the account of each participant who is employed by the Company on the last day of the plan year.

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How much does Walmart match on 401k?

How is the company match calculated? Walmart will match, dollar for dollar, any contribution you make to your plan account, up to 6% of your eligible wages for the Plan year (Feb.

How much does Northrop Grumman match 401k?

Northrop Grumman provides an employer match up to 4% of pay for employees hired by April 1, 2016. Some employees hired between July 2008 and April 2016 can participate in retirement account contributions instead of a defined benefit plan.

What is an excess benefit plan?

An excess benefit plan is one of many types of nonqualified deferred compensation plans established by employers solely to provide certain employees with benefits above and beyond the limitations on contributions and benefits placed on qualified plans under the Internal Revenue Code.

What is an Erisa excess plan?

The ERISA Excess Plan provides employees who earn more than the designated maximum compensation ($230,000 in 2009 and future years) with a “make whole” contribution from the Company of 10% of their eligible compensation that is above the designated maximum.

What is a 415 C?

Internal Revenue Code Section 415(c) provides that the total of employee contributions (other than the Age 50+ Catch-up), employer contributions, and forfeitures allocated to a 403(b) participant’s account within the 12-month period (as defined by the 403(b) plan) is capped at 100% compensation up to a stated dollar …

Does Raytheon negotiate salary?

Negotiate Salary

If you think you and your skill set should be valued higher than your offer, negotiate your salary! 44% of men and 29% of women at Raytheon said they negotiated their salaries. On average, Raytheon employees earn $96,836.

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Should you accept the first salary offer?

“Don’t accept the first offer — they expect you to negotiate and salary is always negotiable.” … Sure, much of the time there is an opportunity to negotiate, but some hiring managers genuinely give you the only number they can offer. The best way to find out, says Weiss, is to inquire.

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