Company: BWXT
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0001486957-25-000016
Chunk: 44

Company: BWX Technologies, Inc.
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 44
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Retirement Savings Plan" or "RSP"). All of our Named Executives participated in the RSP in 2024.Under this plan we provide a company non-elective contribution ranging from 3% to 8% of an employee's base salary based on an employee's service with the company (the "Service Based Contribution") as well as a company match of 50% of the first 6% of an employee's base salary deferrals, both to IRC limits. Company Service Based Contributions and match under the RSP are subject to three-year cliff-vesting based on an employee's hire date. We also maintain a non-qualified Excess Retirement Savings Plan ("ERSP") for which our Named Executives and other specified BWX Technologies, Inc. executives are eligible.

Our Compensation Committee established the ERSP to (1) more closely align our executive retirement plans with general and industry market practices, (2) ensure the competitiveness of retirement benefits for our executives who are not eligible to participate in our Pension Plans, and (3) restore benefits that would otherwise be provided under our RSP absent IRC limits on eligible compensation, employee deferrals and employer contributions. The ERSP largely contains the same principal features as our RSP with the exception of IRC deferral and contribution limits, and participation, if elected, commences once RSP employee pre-tax and/or Roth deferral limits are met. Under the ERSP we provide a company non-elective contribution ranging from 3% to 8% of an employee's base salary based on an employee's service with the company (the "Service Based Contribution") as well as a company match of 50% of the first 6% of an employee's base salary deferrals. Company Service Based Contributions and match under the ERSP are subject to three-year cliff-vesting based on an employee's hire date.

All of our Named Executives participated in our ERSP in 2024 with respect to base salary deferrals. Our obligations under the ERSP are unfunded and plan benefits are payable from the general assets of the Company. While the ERSP allows for the deferral of base salary, and deferral of up to 100% of restricted stock units and performance restricted stock units; only base salary deferrals are eligible for a company match or Service Based Contributions.

Through December 31, 2023, BWX Technologies, Inc. maintained an active non-qualified deferred compensation plan known as the Supplemental Executive Retirement Plan ("SERP"). This