LOCKHEED MARTIN CORPORATION SALARIED SAVINGS PLAN Contribution & Employer Match

How LOCKHEED MARTIN CORPORATION Supports Your Retirement Savings

LOCKHEED MARTIN CORPORATION provides retirement savings benefits through LOCKHEED MARTIN CORPORATION SALARIED SAVINGS PLAN. Understanding your employer’s contribution structure is essential — it directly affects how quickly your retirement nest egg grows. Below you will find the plan’s average account values and contribution patterns based on publicly filed data.

* Data are from public filings.

Are You Leaving Dollars on the Table?

If you are not contributing enough to capture the maximum employer match, you are literally turning down part of your compensation. For many plans, this can mean thousands of dollars per year in lost employer contributions — money that would compound over decades.

Use the policy details and calculator below to find out exactly how much you need to contribute to capture every dollar of employer matching.

LOCKHEED MARTIN CORPORATION SALARIED SAVINGS PLAN Contribution & Match Policy

1. Employee Contribution:

   • Employees can contribute up to 40% of their base salary each year on a before-tax, after-tax, or Roth 401(k) basis, or in any combination, subject to regulatory limits.
   • Auto-enrollment for new participants sets an initial 4% contribution rate, with an annual auto-escalation of 1% up to 12% unless adjusted by the employee.
   • For participants hired before January 1, 2019, auto-enrollment started at 3%, with auto-escalation up to 8%.
   • Catch-up contributions are permitted for employees aged 50 and older.

2. Employer Match:

   • The employer matches 50% of employee contributions up to the first 8% of base salary (i.e., up to 4%).
   • The matching contributions are typically provided in the form of company stock in an ESOP fund.
   • Additional profit-sharing contributions of up to 6% of weekly base salary are made for employees in eligible business units.
   • A $100 wellness contribution is available for participants completing specified wellness actions before January 1, 2024.
   • Participants from Sikorsky Aircraft Corporation under collective bargaining agreements may contribute ratification bonuses on a pre-tax basis, which are also matched at 50%.

3. Roth 401(k):

   • The plan allows Roth 401(k) contributions, offering employees the flexibility to allocate contributions as before-tax, after-tax, or Roth 401(k), or as a combination.

Each of these contributions can be directed by participants into various investment options, including a self-directed brokerage account (SDBA), which has specific transfer requirements.