Lockheed Martin Blog2020-07-29T11:43:47-05:00

Lockheed Martin Blog

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10 Survival Tips – Working from Home

July 24th, 2020|

Many Lockheed employees are still working from home.  Some have put routines in place and are loving it and other are counting the days until they can get back [...]

Social Security Breakpoint – What is That?

August 14th, 2020|

Receiving regular pension payments during retirement is easy. What isn’t so easy is the way the benefit is calculated. Today we will be breaking down one of the three components of the benefit formula; Social Security breakpoint. Related If you’ll recall the benefit formula, you’ll see that the breakpoint appears in two places: 25% X [...]

How your Lockheed Martin Pension Benefit is Calculated

August 7th, 2020|

Ready for a math lesson? Not to worry, there is no grade and this involves the money you will receive upon retirement (woohoo!). If you were grandfathered into Lockheed Martin’s pension plan before the freeze date, your benefits will be paid out as a set monthly amount occurring regularly. Prior to payout, this benefit amount is first adjusted depending on what survivor [...]

Dual Lockheed Employee Couples and the Pension Survivor Decision

July 31st, 2020|

Are you a Lockheed employee married or partnered to another Lockheed employee? Do you know how being dual Lockheed employees affects your decision on your pension survivor benefit?  If not, then keep reading because you’re about to find out. Related The pension survivor benefit was designed to allow a Lockheed employee’s surviving spouse or partner [...]

10 Survival Tips – Working from Home

July 24th, 2020|

Many Lockheed employees are still working from home.  Some have put routines in place and are loving it and other are counting the days until they can get back to the office.  Here are 10 tips to help you survive working from home. Related Get up at your usual time and get ready for the [...]

Should you have an IRA in Addition to a 401(k)?

July 17th, 2020|

If you are looking to have even more retirement savings built up besides the already generous Lockheed Martin 401(k), then the addition of an IRA may be just for you. As a quick refresher, an Individual Retirement Account is a retirement investment account that isn’t tied to a company, but does allow contributions and contains tax benefits. This discussion will be centered [...]

Why have a Roth 401(k)

July 10th, 2020|

Have you ever wondered why people invest into the Roth 401(k) rather than the traditional tax deductible 401(k) plan?  If so, you’re reading the right blog to find out! Related Traditionally, employers only offered a tax deductible 401(k) plan to their employees. But now, most employers also offer a Roth 401(k) plan. Employees have learned [...]

Should you Choose the Single Life Pension Option?

July 3rd, 2020|

Are you ready for the single life?! No no, not in terms of ditching your spouse and reliving the bachelor/bachelorette days. While maybe not as exciting, this single life is in reference to Lockheed’s pension. Pensions are a tremendous retirement vehicle but unlike a 401(k), they have several payout options. One of the choices is called the “single life” option. With this [...]

Retiring from Lockheed Martin – What to do with your PTO?

June 26th, 2020|

To use your PTO or not, that is the question. Many retirees face this issue and don’t know if they should use their PTO before they retire or let Lockheed pay it out to them. How do you decide which route to take? You talk to your financial advisor and consider these following ideas. Using your PTO can help extend your retirement [...]

Lockheed’s 401(k) Safety Net

June 19th, 2020|

There they go again, looking out for their employees! Yep, Lockheed has systems in place to make sure their employees are saving for retirement, even when the employee forgets. How does that happen, you ask? We’re happy to explain. When a new employee, rehire, or newly eligible employee surpasses their first 30 days on the job, the employee can often be so [...]

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