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Dear colleagues,
I’d just got a letter from Raytheon Technologies stating that starting 2022 Fidelity service for managing RAYSIP will be discontinued and transferred to Alight Solutions. I believe this is a follow up of the Raytheon and UTC merger, since Alight formerly manager such plans for the United Technologies. Both these companies had got somewhat different benefits, and obviously those benefits plans should be realigned to each other.
Unfortunately, not much details is provided in the letter about potential changes for Raytheon retirees. In particular, nothing is said about currently active pension funds/plans, if those will be moved as well. Please let me know if extra details are already known.
Thank you advance,
Vladimir Shkunov -
I received the same letter. Raytheon has disclosed nothing about the conversion other than what what was in the mailing. Raytheon Benefits Center (RBC) will begin disclosing info to us in November (they did not say beginning or end of November).
I also found the following with a google search for
Alight solutions negotiating recordkeeper with Raytheon
It’s a link to a PDF of the pionline (Pensions&Investments) issue containing an interview with the combined company’s chief investment officer:
Raytheon Technologies overcomes challenges in merging retirement plans
FEBRUARY 22, 2021 12:00:00 AM
United Technologies and Raytheon’s merger presented challenges for CIO Robin Diamonte and her staff in merging the firms’ retirement plans.Here’s a link to a pdf of the http://www.pionline.com issue from February 22
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Hi Michael,
My experience may or may not help you. I worked for legacy Raytheon and had a legacy Hughes Aircraft pension. I discovered that the Alight website was only a “front-end” to my retirement plan’s website, so the Alight website would pass-through my Alight user-id and Alight password. The legacy retirement plan website had different “rules” for the user ID and password than the Alight website and my connection attempt would fail. I needed to speak directly with a retirement plan specialist, who was not an Alight representative, and ask them to change the email address that the retirement plan had on file for me. After this, then I asked them to send me a password reset link. I then used the reset link to set a password that matched my Alight password. Success at last. My problems aside, my experiences with the legacy retirement support has always been professional and effective. My experiences with Alight have been less than satisfactory. In calling Alight, you must (politely) insist that you be connected with the specialist for your plan. This will not be an Alight rep. And be prepared to wait a long time. Take care.
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