Lowe's Companies, Inc. 401(k) Review & Grade
Lowes 401(k) Plan
Mooresville, NCRetail Trade271,956 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$718Employer $ per active participant
$1,533Employee $ saved per active participant
0.01%Direct admin cost, % of plan assets
$8.6BNet plan assets, end of year
$61,071Average balance per account
Score breakdown
- Employer generosity27.2 / 5054th percentile for employer $ per participant
- Low cost23.6 / 2594th percentile for low admin cost vs. same-size plans
- Employee saving7.1 / 1547th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score61 / 100 · Grade B
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 54th |
| Lower admin cost | 94th |
| Employee saving | 47th |
| Peers that auto-enroll | 32% |
Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Lowe's Companies put in about $718 per active participant, more than the typical peer ($689). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $195,258,548 |
| Participant (employee) contributions | $416,792,880 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $1,136,505 |
| Contract administrator fees | $1,136,505 |
| Benefits paid out | $1,120,849,220 |
| Net assets, start / end of year | $8.1B / $8.6B |
| Active participants, start / end of year | 280,261 / 263,650 |
| Participants with account balances | 140,573 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Deloitte & Touche LLP |
| Employer stock held by plan | $3,473,952,642 |
Largest service providers (Schedule C)
| Principal Life Insurance Company | $1,136,347 reported compensation |
| Metropolitan Life Insurance Company | $116,239 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250711181121NAL0006540737001, received 2025-07-11, EIN 56-0578072, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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