| Retirement Programs
Savings Plan
Employees can generally contribute 2 to 40 percent of earnings through convenient payroll deductions either before or after taxes. Certain restrictions apply based on salary. You receive a 60 percent match from the company on the first 6 percent of your contributions each payroll period. You will have the opportunity to direct your contributions into nineteen investment options, including nine core options plus ten mutual fund options. The company matched contributions to your account are made through the Employee Stock Ownership Plan (ESOP) fund. The ESOP invests in shares of UTC Series A ESOP Convertible Preferred Stock. United Technologies Corporation salaried employees are immediately eligible to participate in the Employee Savings Plan with the company match contributions beginning one year after your hire date.
| Employee Retirement Plan
You will begin accruing benefits under the UTC Employee Retirement Plan on the later of your hire date or the January 1st after you turn 21. The plan is fully paid by UTC; no contributions will be deducted from your pay. Your retirement benefit is expressed as a cash balance account that grows based on your earnings, age and an annual interest rate. You become vested in your retirement plan benefit after you complete five years of continuous service or reach age 65 as an active employee.
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