# Verizon Communications INC. 401(k) Plan
Source: https://planprovider.pro/companies/verizon-communications-inc-232259884-580

> Verizon Communications INC.'s 401(k) plan: 68,030 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Verizon Communications INC.

- **Sponsor EIN:** 232259884

- **Sponsor Address:** ONE VERIZON WAY,, BASKING RIDGE, NJ, 07920

- **Plan Type:** 401(k)

- **Plan Number:** 580

- **Total Participants:** 68,030

- **Total Assets:** $237.8M

## 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|68,030|$237.8M|$1.3B|$259.9M|

| 2023|74,904|$224.2M|$1.3B|$261.5M|

| 2022|81,811|$205.8M|$1.2B|$261.1M|

## 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|

| GRANTHAM,MAYO,VAN OTTERLOO&CO (GMO)|Other Service Provider|$325,922|—|$325,922|

| ALLIANCE BERNSTEIN LP.|Other Service Provider|$201,965|—|$201,965|

| THE BANK OF NEW YORK MELLON|Custodian / Trustee|$119,143|—|$119,143|

| COMPSYCH|Other Service Provider|—|$110,920|$110,920|

| AON HEWITT INVESTMENT|Other Service Provider|$98,339|—|$98,339|

| VERIZON COMMUNICATIONS INC.|Other Service Provider|$29,717|—|$29,717|

| THOMPSON HINE LLP|ERISA Attorney|$8,784|—|$8,784|

### Verified Provider Profiles

Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:

- [THOMPSON HINE LLP](https://planprovider.pro/provider/thompson-hine-llp) — ERISA Attorney

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $894,790

- **Estimated Expense Ratio:** 0.376% 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|$2,957,469|$618,732|$32,095|—|—|

| 2023|$2,535,615|$529,305|$22,760|—|—|

| 2022|$2,384,036|$490,355|$101,152|—|$49,251|

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