Searches and Hires

Lockheed Martin flies with Empower as record keeper for 401(k) plans

Lockheed Martin Corp., Bethesda, Md., hired Empower Retirement as record keeper for its 10 401(k) plans, spokeswoman Laura Toole confirmed in an email Tuesday.

Empower will become the plans' record keeper on Jan. 1, the company disclosed in an 8-K filing with the SEC on Monday. A blackout period for participants begins at 4 p.m. EST on Dec. 26 and ends at 8 a.m. EST on Jan. 9.

According to the company's most recent 11-K filing, the plans' current record keeper is Voya Financial. A reason for the change was not provided.

The plans had a total of $33 billion in 401(k) plan assets as of Sept. 30, according to Pensions & Investments data.

Ms. Toole declined to provide any information beyond the 8-K filing.