If you worked for Raytheon, United Technologies or Pratt & Whitney, your pension history depends on which legacy company you came from. Here's what RTX's filings say.
Where the RTX Corporation (Raytheon) pension stands
RTX's largest plans are generally closed to new participants. Legacy UTC non-union accruals stopped December 31, 2019. Legacy Raytheon non-union participants stopped earning under the historical pay-and-service formula on December 31, 2022 and earn cash balance credits after that. At December 31, 2023 RTX merged the remaining Raytheon plans into the RTX Consolidated Pension Plan without changing anyone's benefit formula.
Lump sums and insurer transfers
In December 2025 RTX completed a buy-out conversion of a group annuity contract with Prudential, transferring about $2.3 billion of obligations for about 60,000 retirees and beneficiaries, roughly a third of the plan's retirees. Prudential now pays those benefits. RTX's 10-Ks for 2022 through 2024 report no annuity transfer.
What a lump sum is worth in 2026
When a private plan pays a lump sum, it can't be smaller than the IRS 417(e) present value. Plans that use November rates for 2026 apply the November 2025 segment rates: 4.07% for payments in years 1 to 5, 5.15% for years 6 to 20 and 6.01% after that, with the IRS 2026 mortality table from Notice 2025-40. On those inputs, a $3,000 monthly benefit starting at 65 has a minimum lump sum of about $442,500. Your plan's lookback month can differ, so check your Summary Plan Description, and run your own benefit through the lump sum calculator.
PBGC coverage
Benefits still in a private single-employer plan are insured by the PBGC. For a plan that terminates in 2026, PBGC guarantees up to $7,789.77 a month for a straight-life annuity starting at 65, less for earlier starts or survivor forms. Benefits moved to an insurer leave the PBGC system and rely on the insurer and state guaranty associations instead.
Social Security
RTX Corporation (Raytheon) jobs paid into Social Security, so the Windfall Elimination Provision never applied to these pensions, and WEP was repealed anyway for benefits payable after December 2023. If the pension covers your basic expenses, delaying Social Security toward 70 raises the one income source that adjusts for inflation. Model it with the Social Security calculator.
The RTX Corporation (Raytheon) employer page lists the filings behind every date and dollar figure here.