Lockheed Martin Corporation 401(k) match for hourly employees: vests immediately
Lockheed Martin Corporation Hourly Employee Savings Plan Plus · LMT · CIK 936468
The 401(k) employer match
Set by collective bargaining
The Lockheed Martin hourly plan's 401(k) match terms are set by collective-bargaining agreements, so the filing states no single company-wide formula.
The match, vesting and enrollment terms below are for hourly employees: they are read from the Lockheed Martin Corporation Hourly Employee Savings Plan Plus. Lockheed Martin filed four Form 11-K reports for plan year 2025, of which one has been read. The other three reports have not, so this page cannot say what the plans they cover pay.
From the Form 11-K filed June 24, 2026 ↗, covering the plan year ended December 31, 2025. Page data last updated July 28, 2026, when the Form 5500 bulk data was last refreshed. Why filings lag
On this page: what the employer actually paid in · the formula, word for word · when the money becomes yours · who can join · what the plan reports to the DOL · how it compares · what to do next
What the Lockheed Martin hourly plan puts in, and what the plan costs
What Lockheed Martin put into the plan, per active participant
$2,982
Lockheed Martin Corporation put $2,982 into this plan for each of its 6,626 active participants in plan year 2024. This is the whole employer side of the plan: matching money, profit sharing, non-elective and safe-harbor contributions, and reallocated forfeitures. The Form 5500 does not separate them, so this is what the employer put in and not the match.
Lockheed Martin put in less per active participant than 72% of plans with 5,000+ participants in medical devices and other manufacturing. The middle plan in that group of 81 reported $4,432. Medical devices and other manufacturing comes from business code 339900, which Lockheed Martin entered on its own Form 5500. Sponsors pick that code themselves, so a code that does not describe what the employer does ranks the plan against the wrong companies.
Both filings are for the Lockheed Martin Corporation Hourly Employee Savings Plan Plus, which covers hourly employees, so this figure and the terms above describe the same group. Matched to this employer by sponsor name, not by an identifier stated in the filing. This record could cover another plan of the same employer.
What this figure cannot separate: how much Lockheed Martin pays, and how much it puts in
This is dollars, not a rate. A Form 5500 carries no payroll, so the figure reflects both how much the employer puts in and how much the employer pays: two plans running the same formula report different amounts when one pays better. Crossing the peer group with industry holds most of that difference still, and none of it disappears.
This is one plan year, not an average. A true-up, a plan merger or a one-off contribution moves a single year on its own.
Source: DOL Form 5500 for the plan year ended December 31, 2024, EIN 521893632, plan 018 · DOL EFAST2 ↗
What the Lockheed Martin hourly plan puts in
Not stated in the filing
Match terms are set by collective-bargaining agreements, so the filing states no single rate for all employees.
The Form 5500 for this plan reports what Lockheed Martin actually paid in: the figure and its peer comparison are above. It is the whole employer side of the plan on one line, so it answers what went in rather than what the formula promises.
Two places state the terms in full: your plan’s Summary Plan Description, which your employer must provide on request, and your recordkeeper’s site, which for this plan is Empower ↗.
What you contribute to collect all of it
Not stated in the filing
The filing does not state the contribution rate that collects the full employer contribution.
Vesting score
100 out of 100
How fast the employer’s money becomes yours. Higher than 48% of the 253 schedules we have scored.
It measures vesting speed and nothing else. It says nothing about the size of the match, what the plan charges, or the funds inside it.
Share of the employer's money that is the worker's at hire and at each of the first 6 anniversaries: 100%, 100%, 100%, 100%, 100%, 100%, 100%. The score is the average of those 7 readings.
Vesting, word for word
“Substantially all employer contributions are made in cash. Participants are immediately vested in all employer contributions.”
The wait before the match starts and the year-end true-up appear above when the filing states them. Neither is part of the score, and a filing that is silent on one of them is not a plan without it.
What the plan costs, against plans of its size
7th percentile
$9.53 per participant in plan-paid administrative cost, cheaper than 94% of plans with 5,000+ participants.
What is the Lockheed Martin hourly plan's 401(k) match formula?
The Lockheed Martin hourly plan's 401(k) match terms are set by collective-bargaining agreements, so the filing states no single company-wide formula. A bargained plan can run several formulas at once, one per agreement, and each states the same parts: a rate, a band of pay and a ceiling.
| Match formula | 50% of contributions (matched-pay ceiling not stated in the filing) |
|---|---|
| Paid in company stock | No, paid in cash or per your investment elections |
| Conditions | Collective bargaining agreements determine the maximum employee contributions (based on flat dollar amounts) and the employer matching contributions; Sikorsky participants' IMA contributions are matched at 75% |
| Other employer contribution | Certain Sikorsky participants receive an employer nonelective contribution equal to 4% of gross earnings (as defined in the collective bargaining agreement) and/or between $0.75 and $2.00 per hour of service per week |
What the filing says, word for word
“Participants from eligible business units generally receive an employer matching contribution equal to 50% of participant contributions (75% of Sikorsky participants' IMA contributions), subject to certain limitations as stipulated in the Plan document. Certain Sikorsky participants receive an employer nonelective contribution equal to 4% of gross earnings (as defined in the collective bargaining agreement) and/or between $0.75 and $2.00 per hour of service per week, up to 40 hours of service per week and 2,080 hours of service per calendar year.”
Source: Form 11-K filed June 24, 2026, SEC EDGAR, corroborated by the filing's inline-XBRL facts · SEC ↗
What is the Lockheed Martin hourly plan's 401(k) vesting schedule?
The Lockheed Martin hourly plan vests the employer match immediately: 100% is yours as soon as it is paid in. Nothing is forfeited when you leave, which is not true of the two schedules that vest over time.
| Employer match vesting | Immediate: employer match is 100% vested when contributed |
|---|---|
| Your own contributions | Not disclosed in the filing |
| Other employer contributions | Participants are immediately vested in all employer contributions |
Vesting, word for word
“Substantially all employer contributions are made in cash. Participants are immediately vested in all employer contributions.”
Source: Form 11-K filed June 24, 2026, SEC EDGAR · SEC ↗
Who can join the Lockheed Martin hourly plan's 401(k), and is enrollment automatic?
The Lockheed Martin hourly plan's filing does not mention automatic enrollment, which is not the same as the plan having none.
| Plan entry | After completion of the waiting period determined by the applicable collective bargaining agreement |
|---|---|
| Excluded groups | Plan covers hourly employees in groups to which the Plan is extended, including employees in the U.S. and certain U.S. citizens working abroad |
| Automatic enrollment | Not mentioned in the filing (not proof of absence) |
Eligibility, word for word
“Covered employees are eligible to enroll in the Plan after completion of the waiting period determined by their collective bargaining agreement.”
Source: Form 11-K filed June 24, 2026, SEC EDGAR · SEC ↗
What does the Lockheed Martin plan report on Form 5500?
The Lockheed Martin plan reported $1.2B in assets and 13,911 participants for plan year 2024.
Matched to this employer by sponsor name, not by an identifier stated in the filing. This record could cover another plan of the same employer.
| Plan named in the DOL record | Lockheed Martin Corporation Hourly Employee Savings Plan Plus |
|---|---|
| Total plan assets | $1,171,031,160 |
| Participants | 13,911 |
| Recordkeeper | Empower (Recordkeeper); State Street Bank And Trust Company (Trustee) |
| Plan-paid admin cost per participant | $9.53 |
How that cost compares
This plan pays $9.53 per participant. The median across plans in medical devices and other manufacturing is $125.72, from the 1,386 of 1,455 whose Form 5500 yields a per-participant cost.
How does the Lockheed Martin hourly plan's 401(k) match compare?
The Lockheed Martin hourly plan's filing does not state a maximum 401(k) match as a share of pay. Across the 181 companies in our data that do, the median is 4.5% of pay.
Employers worth reading next
Of the six employers below, three file in medical devices and other manufacturing and three vest on the same schedule.
Employer match vests in full after 3 years. Also in medical devices and other manufacturing.
Employer match vests immediately. Also in medical devices and other manufacturing.
Maximum match 7% of pay. Also in medical devices and other manufacturing.
Maximum match 5% of pay. Vests immediately too, like Lockheed Martin.
Maximum match 5% of pay. Vests immediately too, like Lockheed Martin.
Maximum match 6% of pay. Vests immediately too, like Lockheed Martin.
Compare Lockheed Martin Corporation with any company, side by side
What can you do next?
Check your own balance and contribution rate at Empower ↗, the recordkeeper this plan reports.
- Read the Form 11-K on SEC EDGAR ↗
Form 11-K filed June 24, 2026, SEC EDGAR. Every match fact on this page comes from it.
- Changed jobs? Find an old 401(k) ↗
The Department of Labor's Retirement Savings Lost & Found, a free government database.
- This year's IRS contribution limits ↗
The official deferral and catch-up limits every formula operates under.
- Download this data (CSV)
Formula, vesting and source references for this company, one file.
Questions this filing answers
What is Lockheed Martin Corporation's 401(k) match for hourly employees?
The Lockheed Martin Corporation Hourly Employee Savings Plan Plus covers hourly employees. Lockheed Martin Corporation's match terms are set by collective bargaining agreements; the 11-K for the plan year ended December 31, 2025 does not state a single formula. Lockheed Martin Corporation's Form 5500 for plan year 2024 reports $2,982 of employer money per active participant. This is the whole employer side of the plan: matching money, profit sharing, non-elective and safe-harbor contributions, and reallocated forfeitures. The Form 5500 does not separate them, so this is what the employer put in and not the match. Matched to this employer by sponsor name, not by an identifier stated in the filing. This record could cover another plan of the same employer.
When does the Lockheed Martin Corporation 401(k) match vest for hourly employees?
Immediate: employer match is 100% vested when contributed.
Does Lockheed Martin Corporation's 401(k) plan for hourly employees have automatic enrollment?
Not mentioned in the filing (not proof of absence).
Cite: 401(k) Monitor, “Lockheed Martin Corporation 401(k) plan facts for hourly employees”, from SEC Form 11-K accession 0001628280-26-045256, plan year ended 2025-12-31.