401(k) Important Information
Important Information about Your 401(k) Plan:
- You must enroll to use the 401(k) plan. You can change your contribution percentage, elect to withdraw from plan participation, or change how your account balance is invested at any time.
- When you are eligible, you will receive a letter mailed to your home address with enrollment instructions. You can access your balance and account information and make changes to your account through My Lowe’s Life or by calling 1-800-SAVE123 (1-800-728-3123). Your quarterly 401(k) plan account statements will be made available to you electronically.
- You make contributions to the 401(k) plan on a pre-tax basis. Contributions to the plan are not considered taxable income until you take them out of the plan.
- You are always 100% vested in the total amount of your account balance. This means you have full ownership of your account balance and can take it with you if you leave Lowe’s.
- Changes to your contribution percentage or investment elections for both current balances and future contributions can be made at any time on My Lowe’s Life or by calling 1-800-SAVE123 (1-800-728-3123). Your change will take effect on the first day of the following payroll period or as soon as administratively feasible.