Back to top
FORM 5500 DATA

Loews Corporation Employees' Savings Plan

Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan03/01/1969
  • Net Assets as of 12/31/2019 $281,995,969
  • Plan Number23
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants3,478
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits1,385
  • Subtotal4,863
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits4
  • Total4,867
  • Total number of participants as of 01/01/20194,862
  • Number of participants with account balances3,850
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address667 Madison Avenue
  • CityNew York
  • StateNY
  • Zip10065
  • Telephone(212) 521-2000
  • EIN13-2646102
  • Industry Code551112

Plan Administrator Information

  • Administrator NameLoews Corporation Benefits Committee
  • Address667 Madison Avenue
  • CityNew York
  • StateNY
  • Zip10065
  • Telephone(212) 521-2000
  • Administrator EIN13-2856855

Audit Information

  • Audit StatusAudited
  • AuditorDeloitte & Touche LLP
  • Auditor EIN13-3891517
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
2J Code section 401(k) feature A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
2K Code section 401(m) arrangement Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
2R Brokerage Window Participant-directed brokerage accounts provided as an investment option under the plan.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? Yes $9,266
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $10,000,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $74,028,315
Contributions $19,532,391
Cash Contributions $19,532,391
Cash from Employers $6,422,243
Cash from Participants $12,144,394
Others (including rollovers) $965,754
Noncash Contributions $0
Total Earnings on Investments $54,490,479
Total Interest $271,263
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $271,263
Interest from Other Investments $0
Total Dividends $5,782,406
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $0
Aggregate Proceeds $0
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $0
Real Estate $0
Other $0
Net investment gain (loss) from common/collective trusts $1,879,266
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $46,557,544
Other Income $5,445
Expenses $23,859,049
Total Benefit Payments $23,508,950
Directly to participants or beneficiaries, including direct rollovers $23,508,950
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $16,568
Interest expense $0
Total Administrative Expenses $333,531
Professional Fees $68,062
Contract Administrator Fees $263,939
Investment Advisory and management fees $0
Other Administrative Fees $1,530
Net Income $50,169,266
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $281,995,969 $231,826,703 21.64%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $297,664 $0 0.0%
Employer Contributions $297,664 $0 0.0%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $0 $0 0.0%
Interest-bearing cash $0 $0 0.0%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $0 $0 0.0%
Preferred $0 $0 0.0%
Common $0 $0 0.0%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $5,207,658 $4,587,872 13.51%
Value of interest in common/collective trusts $131,638,582 $12,959,331 915.78%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $141,036,107 $211,030,937 -33.17%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $3,815,958 $3,248,563 17.47%
Employer-related Investments $0 $0 0.0%
Employer Securities $0 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $0 $0 0.0%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $281,995,969 $231,826,703 21.64%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • T. Rowe Price

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
T. Rowe Price Recordkeeping and information management (computing, tabulating, data processing, etc.), Trustee (bank, trust company, or similar financial institution), Securities brokerage, Participant loan processing, Other services, Direct payment from the plan, Other commissions, Redemption fees, Securities brokerage commissions and fees, Other fees NONE $263,939 $0 $263,939
Deloitte & Touche LLP Accounting (including auditing), Direct payment from the plan NONE $68,062 $0 $68,062
Total $332,001 $0 $332,001

Indirect Compensation

There are no service providers with indirect compensation listed for this plan.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Retirement 2025 Trust Fund T. Rowe Price Trust Company DFE: Common/Collective Trust $19,774,203
Retirement 2030 Trust Fund T. Rowe Price Trust Company DFE: Common/Collective Trust $17,916,998
Retirement 2035 Trust Fund T. Rowe Price Trust Company DFE: Common/Collective Trust $17,692,466
Retirement 2040 Trust Fund T. Rowe Price Trust Company DFE: Common/Collective Trust $17,633,551
Retirement 2045 Trust Fund T. Rowe Price Trust Company DFE: Common/Collective Trust $13,122,226
Retirement 2020 Trust Fund T. Rowe Price Trust Company DFE: Common/Collective Trust $12,684,561
T. Rowe Price Stable Value Fund T. Rowe Price Trust Company DFE: Common/Collective Trust $12,543,414
Retirement 2050 Trust Fund T. Rowe Price Trust Company DFE: Common/Collective Trust $7,429,695
Retirement 2015 Trust Fund T. Rowe Price Trust Company DFE: Common/Collective Trust $5,070,186
Retirement 2055 Trust Fund T. Rowe Price Trust Company DFE: Common/Collective Trust $4,727,713
Retirement 2010 Trust Fund T. Rowe Price Trust Company DFE: Common/Collective Trust $1,407,993
Retirement 2060 Trust Fund T. Rowe Price Trust Company DFE: Common/Collective Trust $823,229
Retirement 2005 Trust Fund T. Rowe Price Trust Company DFE: Common/Collective Trust $812,347
Total $131,638,582

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.