Lowes Companies, Inc.benefits
Lowes Welfare Plan · MOORESVILLE, NC · plan year 2024
Previously filed as Lowes Companies Inc. Same employer identification number; renames and acquisitions are why old benefits and 401(k) accounts get lost.
Lowes Companies, Inc.'s benefits plans covered 297,740 active participants in 2024, providing health · life · dental · vision · short-term disability · long-term disability · death benefits. Insurance premiums totaled $153,785,058. Insurance brokers and agents were paid $14,310,456 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 9.3% of premiums. That is $48 per covered person, in the bottom quarter of employer plans that report broker pay. Brokers were paid 4.7x the $3,073,730 reported for 2023.
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Source: DOL Form 5500 Schedule A, plan year 2024, EIN 560578072 · Verify on EFAST2 · Amounts are as reported by the plan sponsor.