About This Handbook
The Foundations for Success handbook describes the Lowe's benefit plan options offered under the Lowe's Welfare Plan, Lowe's 401(k) Plan and Lowe's Employee Stock Purchase Plan. Depending on your employment status (full-time, part-time, seasonal or temporary) at any of the Lowe's affiliate or subsidiary companies, you may be eligible to participate in some or all of these benefit plan options. For ease of reference, the terms "Lowe's" and "the Company" are used throughout this book for each of these companies, both individually and collectively. Lowe's Companies, Inc., serves as the Plan Sponsor for each company under the intra-company management arrangement. Refer to Plan Administration for details on the individual companies and the respective states in which they do business, as well as the specific claims and appeals administrators for each of the benefit plans.
Because Lowe's feels these benefit plans are an important part of your personal security and success, the Company shares in the cost of many of the benefit plans. Others are entirely paid for by the employee. You are encouraged to take time and become familiar with each of these benefits by reading the plan descriptions contained in this publication. The more you learn about the benefit plans, the better you will be able to make the selections that meet your personal and family needs and the better you will understand the benefits available during a time of need.
Lowe's provides health and welfare benefits as component benefits of the Lowe's Welfare Plan. This handbook describes the health and welfare benefit plans offered under the Lowe's Welfare Plan. Please note that Lowe's will update this handbook by issuing you a Summary of Material Modifications, or SMM. Lowe's intends for this book (as updated by any future SMM), and any handbook or certificate of coverage issued to you by an insurance carrier to constitute your official Summary Plan Description, or SPD, for the Lowe's Welfare Plan.
Although this handbook is intended to provide a thorough description of benefit plans provided by the Lowe's Welfare Plan, if there is a difference between this handbook and the information contained in the HMO/POS book or insurance certificate of coverage, the HMO/POS book or insurance certificate of coverage will control. If there is a difference between the SPD and the official plan document for the Lowe's Welfare Plan, the Lowe's Welfare Plan document will control.
This handbook also describes the Lowe's 401(k) Plan and Employee Stock Purchase Plan benefits and is the official SPD for these plans.
Lowe's has established each of the benefit plans with the expectation that they will be continued indefinitely. Nevertheless, Lowe's reserves the right to amend or terminate each or all of its benefit plans and change required contributions at any time and for any reason. The right to amend or terminate each plan applies to all coverage hereunder, including coverage for active, retired and disabled employees, their dependents and, if applicable, survivors.
As described more fully herein, certain benefit plans include a subrogation/benefit offset provision whereby benefits under this Plan may be reduced by amounts paid (or payable) from another source. Where such provisions apply, certain action may be required on your (or your covered dependents) part to help secure the Plan's equitable right of recovery.
If you have questions or need additional information about these benefit plans, please ask your Human Resources (HR) Manager or call Lowe's HR Shared Services at 1-888-HRINFO5 (1-888-474-6365), or write to:
1000 Lowes Boulevard
Mooresville, NC 28117
Remember, however, that the official Plan documents control, and only the Plan Administrator can interpret the Plan.