# Verizon Communications INC. Health & Welfare Plan
Source: https://planprovider.pro/companies/verizon-communications-inc-232259884-588

> Verizon Communications INC.'s Health & Welfare plan: 11,772 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:** Health & Welfare

- **Plan Number:** 588

- **Total Participants:** 11,772

- **Total Assets:** $51,872

## 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|11,772|$51,872|$647.9M|$70.3M|

| 2023|12,080|$295,840|$620.5M|$66.4M|

| 2022|12,632|$525,125|$585.4M|$65.2M|

## 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|

| COMPSYCH|Other Service Provider|—|$37,540|$37,540|

## Plan Fees & Expenses

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

- **Total Service Provider Fees:** $37,540

- **Estimated Expense Ratio:** 72.370% 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|$1|—|—|—|—|

| 2023|—|—|—|—|—|

| 2022|$3|—|—|—|—|

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