# Verizon Communications INC. 401(k) Plan
Source: https://planprovider.pro/companies/verizon-communications-inc-401k-plan-004

> Verizon Communications INC.'s 401(k) plan: 11,674 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)

- **Total Participants:** 11,674

- **Total Assets:** $3.4B

## 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.|

| 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|$477,706|—|$477,706|

| VERIZON COMMUNICATIONS INC.|EMPLOYER|$96,963|—|$96,963|

| MITCHELL TITUS LLP|NONE|$59,508|—|$59,508|

| AON CONSULTING, INC|NONE|$53,030|—|$53,030|

| DONNELLEY FINANCIAL LLC|NONE|$17,153|—|$17,153|

| DUANE MORRIS|NONE|$17,017|—|$17,017|

| ABEL NOSER SOLUTIONS|NONE|$15,093|—|$15,093|

| THOMPSON HINE LLP|NONE|$12,246|—|$12,246|

| BLOOMBERG FINANCE|NONE|$11,656|—|$11,656|

| ALTERNATIVESOFT AG|NONE|$9,068|—|$9,068|

| CONDUENT HR SERVICES LLC|NONE|$7,225|—|$7,225|

| BROADRIDGE|NONE|$5,364|—|$5,364|

### Verified Provider Profiles

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

- [FIDELITY INVESTMENTS INSTITUTIONAL](https://planprovider.pro/provider/fidelity-investments) — RECORDKEEPER

- [MITCHELL TITUS LLP](https://planprovider.pro/provider/mitchell-and-titus-llp) — NONE

- [AON CONSULTING, INC](https://planprovider.pro/provider/alight-solutions) — NONE

- [DUANE MORRIS](https://planprovider.pro/provider/duane-morris-llp) — NONE

- [THOMPSON HINE LLP](https://planprovider.pro/provider/thompson-hine-llp) — NONE

## Plan Fees & Expenses

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

- **Total Service Provider Fees:** $782,029

- **Estimated Expense Ratio:** 0.023% 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|$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|

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[View full interactive plan profile on PlanProvider.Pro](https://planprovider.pro/companies/verizon-communications-inc-401k-plan-004)

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