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    Steel Pensions

    In 1912, Glenn L. Martin Company is officially incorporated in Los Angeles. After the demise of his original company, Allan Loughead officially forms the Lockheed Aircraft Company in 1926, in Hollywood, CA. Both Lockheed and Martin companies would develop aircraft that would fight in World Wars I and II. The companies would also supply NASA's efforts into space.

    In 1995, Lockheed would merge with Martin Marietta to form the Lockheed Martin Corporation, the largest aerospace, defense and technology firm in the world.

    Employees hired after Jan. 1, 2006 are ineligible for the company's traditional pension plan, which guarantees workers a percentage of their salaries upon retirement, and will not qualify for retiree health care benefits.

    Determining the Health of Your Pension

    For the Lockheed Martin Retirement Plan, we included the following factors:

    A
    		 % Change - Is your plan growing or shrinking?
    B
    		 % Active - How many members in your pension plan are active contributors?
    C
    		 Assets divided by Liability - Perhaps the single best indicator of your plan's health.
    D
    		 Has your plan been given a funding waiver?  Could be a Warning Sign.
    E
    		 How much of the value of your plan is coming in via contributions?
    F
    		 Expenses to Income ratio helps show how efficiently your plan is being managed.
    G
    		 The presence of related party transactions has been a warning sign in the past.
    H
    		 Potential red flag - minimum funding waiver used in the past
    I
    		 Potential red flag - Was the minimum fund contribution made?
    J
    		 Potential red flag - Has there been a change in the actuarial cost method?

    Pension Form 5500

    Data comes from the most recent Lockheed Martin Retirement Plan Form 5500 (Year: 2005) found at www.freeERISA.com. If you have questions or concerns, the best person to ask is your Plan Administrator or your financial advisor.

     # of Participants 
    A
    B
    Beg.of Yr.
    End of Yr.
    % Change
    % Actives
    81,156
    83,447
    2.82%
    42.3%

    Actuarial Value of Assets
    Current Liability
    C
      D
    Assets/ Liability
    		 Funding Waiver?
    Yes
    No
    $ 6.1 B
    $ 6.3 B
    96%
    X

     Total Contribution
    E
     Total Income 
    Total Expenses
    F
    Contribution to Value %
    Expense to Income Ratio
    $ 0
    0.0%
     $  483.6 M
      $ 332.5 M 
    68.8%

    G
    H
    Related Party Trx?
    Min. Funding Waiver?
    Yes
    No
    Yes
    No
     
    X
    		  
    X

    I
    J
    > Min.Contribution?
    Change in Cost Method?
    Yes
    No
    Yes
    No
    X
    		    
    X

    Please let us know if you have any questions, if you find this guide useful, or if you have any suggestions to help improve it.

     
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