Plan Snapshot
- Plan Sponsor: Verizon Business Global LLC
- Sponsor EIN: 900357488
- Sponsor Address: ONE VERIZON WAY,, BASKING RIDGE, NJ, 07920
- Plan Type: DB
- Total Participants: 0
- Total Assets: $35,865
Key Plan Design Features
- Auto-Enrollment: No
- Auto-Escalation: No
- Allows Roth Contributions: No
- Participant Loans: No
- Participant-Directed Investments: No
- ERISA Section 404(c) Fiduciary Safe Harbor: No
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2024 | 0 | $35,865 | $0 | $0 |
| 2023 | 0 | $3.5M | $0 | $0 |
| 2022 | 16 | $46.1M | $0 | $0 |
Service Providers (Schedule C)
Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).
| Provider Name | Role | Direct Compensation | Indirect Compensation | Total Fees |
|---|---|---|---|---|
| VERIZON COMMUNICATIONS INC. | EMPLOYER | $438,850 | — | $438,850 |
| AON CONSULTING INC. | NONE | $86,029 | — | $86,029 |
| MITCHELL & TITUS, LLP | NONE | $34,711 | — | $34,711 |
| DUANE MORRIS LLP | NONE | $13,598 | — | $13,598 |
| PACIFIC INVESTMENT MANAGEMENT | NONE | $7,019 | — | $7,019 |
| THE BANK OF NEW YORK MELLON | NONE | $5,170 | — | $5,170 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- AON CONSULTING INC. — NONE
- MITCHELL & TITUS, LLP — NONE
- DUANE MORRIS LLP — NONE
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $585,377
- Estimated Expense Ratio: 1632.168% of plan assets
Historical Administrative Expenses
Breakdown of administrative expense categories reported on Form 5500 filings.
| Year | Total Admin Expenses | Investment Mgmt Fees | Contract Admin Fees | IQPA Audit Fees | Professional Fees |
|---|---|---|---|---|---|
| 2024 | $630,592 | $7,019 | — | $70,576 | — |
| 2023 | $858,654 | $51,256 | — | $49,321 | — |
| 2022 | $347,139 | $81,559 | — | — | $127,060 |