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Space Systems Division Benefits
Investment and Savings Plan (ISP)
These are some of the highlights:
 You can contribute up to 25% (subject to IRS limitations) of your base pay to the plan - on a before-tax and/or after-tax basis. If you are at least age 50, you can also elect to make catch-up contributions in accordance with IRS guidelines.
You will be automatically enrolled in the Plan at a 2% before-tax contribution rate. If you wish to change your contributions — either to zero or to a higher percentage, you can change your contribution rate at any time.
For every dollar you contribute, the Company will match it with fifty cents - up to the first six percent of your base pay that you save.
The Company contributes an additional 1/2 of 1% of your base pay - the "floor contribution" — whether or not you contribute to the Plan.
You direct your contributions and Company contributions made on your behalf to one or more of 14 investment funds, including Company stock.
Company and employee contributions are invested in the Target Retirement Fund aligned with your year of birth unless you make another election.
You are immediately 100% vested in your own contributions and the "floor" contribution. You vest 20% per year in Company matching contributions, and are 100% vested after five years of service.
You can change your own contribution amounts, reallocate your account balances, borrow from your account, or make withdrawals from your account while working for ITT. (Special rules apply to contributions to the ITT Industries Stock Fund and withdrawals of before-tax savings.)
The Plan includes Financial Engines, an online investment advisory tool, and other tools to help you manage your account.
The Plan includes a self-directed brokerage option as an investment choice.
The Plan accepts rollovers of account balances from another employer's qualified pension or savings plan.
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