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: 004
- Total Participants: 15,009
- Total Assets: $3.7B
Key Plan Design Features
- Auto-Enrollment: Yes
- Auto-Escalation: No
- Allows Roth Contributions: Yes
- Participant Loans: No
- Participant-Directed Investments: Yes
- ERISA Section 404(c) Fiduciary Safe Harbor: Yes
Plan Financials by Year
| Year | Participants | Total Assets | Employer Contrib. | Employee Contrib. |
|---|---|---|---|---|
| 2025 | 15,009 | $3.7B | $0 | $0 |
| 2024 | 11,674 | $3.4B | $51.5M | $108.4M |
| 2023 | 12,015 | $3.2B | $51.2M | $107.6M |
| 2022 | 12,505 | $2.9B | $51.3M | $107.9M |
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 |
|---|---|---|---|---|
| FIDELITY INVESTMENTS INSTITUTIONAL | Recordkeeper | $412,880 | — | $412,880 |
| VERIZON COMMUNICATIONS INC. | Other Service Provider | $176,843 | — | $176,843 |
| AON CONSULTING, INC | Other Service Provider | $61,560 | — | $61,560 |
| MITCHELL TITUS LLP | Other Service Provider | $61,285 | — | $61,285 |
| DUANE MORRIS | Other Service Provider | $42,973 | — | $42,973 |
| DONNELLEY FINANCIAL LLC | Other Service Provider | $21,386 | — | $21,386 |
| ABEL NOSER SOLUTIONS | Other Service Provider | $12,458 | — | $12,458 |
| THOMPSON HINE LLP | Other Service Provider | $12,366 | — | $12,366 |
| CONDUENT HR SERVICES LLC | Other Service Provider | $10,160 | — | $10,160 |
| BLOOMBERG FINANCE | Other Service Provider | $8,112 | — | $8,112 |
| DLA PIPER | Other Service Provider | $6,347 | — | $6,347 |
| KPMG | Other Service Provider | $5,848 | — | $5,848 |
| AYCO | Other Service Provider | $5,481 | — | $5,481 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $837,699
- Estimated Expense Ratio: 0.022% 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 |
|---|---|---|---|---|---|
| 2025 | $322,091,816 | $3,649,131 | $83,049 | $61,285 | — |
| 2024 | $4,775,865 | $4,116,066 | $64,949 | $59,508 | — |
| 2023 | $4,716,767 | $4,089,018 | $73,817 | $57,783 | — |
| 2022 | $5,533,100 | $4,677,301 | $567,157 | — | $77,538 |