Florida › Manufacturing › 500 to 999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
Marine & Power Systems Pension Plan
Sponsored by L3HARRIS Technologies, Inc., Melbourne, FL
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
L3HARRIS Technologies, Inc. of Melbourne, Florida sponsors Marine & Power Systems Pension Plan, a cash balance pension plan. Its Form 5500 for the plan year ending 31 Dec 2024 shows 980 participants (112 active) and $129M in net assets.
Net assets came to $131,352 per participant, well above the $86,583 median for defined benefit plans with 500 to 999 participants and well above the $67,961 median for defined benefit plans in manufacturing. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
The filing reports no service provider compensation on Schedule C. That is common where fees are paid by the employer or taken from investment returns, neither of which appears there. Administrative expenses charged to the plan were —.
Across the filings on record, net assets went from $144M in 2020 to $129M in 2024 (down 11%), and participants from 1,353 to 980 (down 28%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DB plans |
|---|---|---|---|---|
| Net assets per participant | $131,352 | $86,583 | $67,961 | $86,221 |
| Employer contributions per active participant | — | $10,758 | $6,915 | $10,244 |
| Schedule C compensation per participant | — | $377 | $299 | $344 |
| Schedule C compensation, share of net assets | — | 0.48% | 0.47% | 0.42% |
| Administrative expenses per participant | — | $591 | $498 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 500 to 999 participants (873 plans), manufacturing (1,532) and all US plans (5,308). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 980 | $129M | $131,352 | — | — | $0 |
| 2023 | 1,020 | $127M | $124,075 | — | — | $0 |
| 2022 | 1,046 | $119M | $114,042 | — | — | $0 |
| 2021 | 1,310 | $155M | $118,002 | — | — | $0 |
| 2020 | 1,353 | $144M | $106,363 | — | — | $0 |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$126,555,578
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions—
- Total income, including investment results$10,195,597
- Benefits paid$8,025,745
- Administrative expenses—
- Total expenses$8,025,745
- Net income$2,169,852
- Net transfers$0
- Net assets, end of year$128,725,430
Participants
- Active participants112
- Retired or separated, receiving benefits550
- Retired or separated, entitled to future benefits154
- Total participants, end of year980
Fees and service providers
No service provider organisations are listed on Schedule C for this plan year.
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Master trust investment accounts$129M · 100.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmWeaver and Tidwell, LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $15,000,000
- Blackout period during the yearNo
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
1ABenefits are primarily pay related1CCash balance or similar plan3FPlan sponsor(s) received services of leased employees3HPlan sponsor(s) is (are) a member(s) of a controlled group
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 333200: Industrial Machinery Mfg.
Other plans of L3HARRIS Technologies, Inc.
Similar plans in Florida
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| Gerdau Macsteel Pension Plan for Bargaining Employees | Gerdau Macsteel, Inc. | 1,038 | $73.5M | $70,857 |
| L3HARRIS Pension Plan for Employees in the Electronic Systems/integrated Electronic Warfare Systems Bargaining Unit | L3HARRIS Technologies, Inc. | 841 | $51.9M | $61,731 |
| United States Sugar Corp. - Rip Retirement Income Plan | United States Sugar Corporation | 1,353 | $30.0M | $22,139 |
| Florida Crystals Corporation Pension Plan | Florida Crystals Corporation | 827 | $83.2M | $100,644 |
| L3HARRIS Integrated Systems Pension Plan for Greenville Hourly Employees | L3HARRIS Technologies, Inc. | 1,392 | $189M | $135,626 |
| Swisher International, Inc. Retirement Income Plan for Wage Employees | Swisher International Inc. | 583 | $68.8M | $117,991 |
Defined benefit plans in manufacturing closest in size.
Questions and answers
How big is Marine & Power Systems Pension Plan?
980 participants at the end of the plan year ending 31 Dec 2024, of whom 112 were active employees, with net assets of $128,725,430. Among defined benefit plans that places it in the 500 to 999 participants band, which held 873 plans in plan year 2024.
What does L3HARRIS Technologies, Inc. contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports no provider compensation for the year. Administrative expenses on Schedule H were —. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is L3HARRIS Technologies, Inc.. The financial statements were audited by Weaver and Tidwell, LLP. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 10 Oct 2025. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 34-0276860, plan 034, received 10 Oct 2025; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.