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: 582
- Total Participants: 0
- Total Assets: $465.9M
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 | $465.9M | $34.2M | $11.5M |
| 2023 | 0 | $465.8M | $30.0M | $10.6M |
| 2022 | 0 | $451.5M | $35.6M | $10.8M |
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 | $874,086 | — | $874,086 |
| ALLIANCE BERNSTEIN LP. | Other Service Provider | $541,647 | — | $541,647 |
| AON HEWITT INVESTMENT | Other Service Provider | $263,734 | — | $263,734 |
| THE BANK OF NY MELLON | Custodian / Trustee | $240,447 | — | $240,447 |
| VERIZON COMMUNICATIONS INC. | Other Service Provider | $79,697 | — | $79,697 |
| THOMPSON HINE LLP | ERISA Attorney | $23,557 | — | $23,557 |
| STANDISH MELLON ASSET | Other Service Provider | $5,706 | — | $5,706 |
| MELLON INVESTMENTS | Other Service Provider | $5,341 | — | $5,341 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- 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: $2,034,215
- Estimated Expense Ratio: 0.437% 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 | $23,236 | — | $23,236 | — | — |
| 2023 | $14,460 | — | $14,460 | — | — |
| 2022 | $16,094 | — | $16,094 | — | — |