The 401(k) plan (administered by Empower Retirement)

The 401(k) Plan helps you save for retirement through your own pre-tax, after-tax, Roth 401(k) and/or catch-up contributions combined with Lubrizol's matching contributions.

You may contribute up to 75% of your eligible compensation on a before-tax or after-tax basis. The amount you contribute to your traditional 401(k) and Roth 401(k) individually, or on a combined basis, may not exceed the maximum contribution allowable under IRS 401(k) rules - $20,500 in 2022, and $22,500 in 2023.

Newly hired employees will automatically be enrolled in the plan within 30 days of hire at 6% of eligible compensation on a before-tax basis.  New hires may choose to opt-out of auto-enrollment or elect higher levels of contributions at any time.

Beginning in the year you turn age 50, you may elect to make catch-up contributions in before-tax and/or Roth 401(k) of up to $6,500 in 2022, and $7,500 in 2023.

The 401(k) Plan makes the following employer contributions:

401(k) Match: Lubrizol matches your contributions dollar-for-dollar on the first 6% of eligible pay you make to the plan. You are automatically 100% vested in your own and company matching contributions.

Age-Weighted Defined Contribution (AWDC): This contribution funded entirely by Lubrizol on your behalf. Annual contributions to your account are made according to a formula based on your age and employment as of each year-end (see below). Participants will vest in The Lubrizol Corporation Age-Weighted Defined Contribution Plan equally over three (3) years.


(as of December 31)

Core Contribution
(% of eligible pay)

35 and younger


36 – 40


41 – 45


46 – 50


51 – 55


56 – 60


61 and older



You may change your investment choices and your savings deferral amount at any time. If the change is done prior to 4:00 p.m. it will be reflected at the start of the next business day. With a few restrictions, balances accumulated in these funds may be transferred between funds as often as every stock market business day.


Empower Retirement is the plan’s record-keeper and can provide details including plan balances, transactions, investment fund prospectuses, elections, etc.

Comprehensive Financial Planning is available to all eligible employees at no cost. A CFP® professional at Empower can help you create a long-term plan to help achieve your financial goals. Your personalized plan will include an in-depth evaluation of the key pillars of your financial picture including education expenses, insurance needs, retirement, estate and tax planning and other financial goals.

This service is available through our retirement plan provider, Empower Retirement. See contact information below.

You may contact or access Empower below:

  • By Phone: 1-833-698-0797 (weekdays between 8 a.m. and 10 p.m. ET and Saturdays from 9 a.m. to 5:30 p.m. ET)
  • Participant Website:
  • Certified Financial Planning: