INTEREST RATE
WHAT DOES PPA STAND FOR?
PENSION PROTECTION ACT
WHAT PAYMENT OPTIONS DOES CP SALARIED AND NEW HOURLY HAVE?
SLA
JOINT AND SURVIVOR
10 CERTAIN AND CONTINUOUS
SOCIAL SECURITY LEVEL INCOME AGE 62 OPTIONS
CAN RETROACTIVE LUMP SUMS BE ROLLED OVER?
DEPENDS ON THE PAYMENT OPTION THAT IS ELECTED. THE PAYMENT IS A CATCH UP PAYMENT, FOR EXAMPLE IF PTP ELECTED SLA RETROACTIVE PAYMENT WOULD NOT BE LUMP SUM BECAUSE SLA PAYMENT IS NOT ROLLOVER PAYMENT. IF PTP ELECT PERIOD CERTAIN THAN THAT CAN BE ROLLED OVER.
WHAT INFORMATION DO WE NEED FOR SURVIVING SPOUSE?
Full name of spouse.
Spouse date of birth
Spouse’s Social Security number
Spouse’s Mailing Address
Does the spouse also work for Raytheon (Ray-Ray)?
Phone number
WHICH PAYMENT OPTIONS DOES THE INTEREST RATE RUN PARALLEL TO?
CERTAIN AND CONTINUOUS
JOINT AND SURVIVOR
DOES E-SYSTEM HAVE A LUMP SUM PAYMENT OPTION?
NO
A PTP IS TERM VESTED AND RECEIVED A LETTER ADVISING THEY ARE LATE STARTING THEIR PENSION, WHAT SHOULD BE DONE?
Participant received the letter because they are passed their NRET and the Representative should offer to request a package for them or guide them through the RTX Pension Service Center Website Retire Online option.
WHO DOES THE CALLER CONTACT IN ODER TO PROCESS A DEATH FOR A PTP THAT IS PROJECT BATON WITH NO RECENT PAYMENT?
PRUDENTIAL 800-621-1089
WHICH PAYMENT OPTIONS IS THE RELATIONSHIP INVERSE (AS THE RATES GO UP THE BENEFIT DECREASES AND AS THE RATES DOWN THE BENEFIT INCREASES)
PERIOD CERTAIN
TEMPORARY MODIFIED CASH REFUND
LUMP SUM BENEFITS
IS CERTAIN AND CONTINUOUS OFFERED TO TERM VESTED PTP?
NO, NOT OFFERED FOR RTIS PTPS
WHAT IS THE DIFFERENCE BETWEEN A RASD AND A CASD?
The current annuity start date is just like the retroactive annuity start date except the CASD is more recent than the RASD. Therefore, the retroactive lump sum payment may not be offered.
What do we need to authenticate for a deceased ptp and there is no surviving sp?
Raytheon Participant’s EIN and the last four digits of the social security number.
If the caller does not know their employee identification number, then please ask for their Social Security Number (SSN).
Raytheon Participant’s full name.
Raytheon Participant’s Full Address (including apt# (as applicable) and zip code).
Raytheon Participant’s DOB.
WHAT DATE MUST PAPERWORK BE SUBMITTED TO GET 2022 RATE FOR RTIS?
12/31/2022
WHICH PLAN CAN ANYONE BE THE BENEFICIARY IN THE JOINT AND SURVIVOR OPTION?
RAYTHEON COMPANY PENSION SALARIED AND NEW HOURLY- ANYONE PTP WISHES AS LONG AS IT DOES NOT REDUCE THE PTP BENEFIT BY MORE THAN 50%
CAN BOTH RASD AND CASD BE TAKEN?
If the participant is eligible for both, they must choose one or the other.
CAN A DEATH BE REPORTED IF CALLER DOES NOT HAVE EIN OR SSN?
NO, CASE WOULD HAVE TO BE DOCUMENTATED UNDER ALL 999999999. WE ARE TO ADVISE TO CONTACT PSC WITH PROPER IDENTIFYING INFORMATION?