# Verizon Communications INC. 401(k) Plan
Source: https://planprovider.pro/companies/verizon-communications-inc-401k-plan-011

> Verizon Communications INC.'s 401(k) plan: 12,203 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:** 12,203

- **Total Assets:** $5.8B

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** No

- **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|12,203|$5.8B|$58.0M|$150.3M|

| 2023|12,658|$5.4B|$57.5M|$148.3M|

| 2022|12,824|$4.9B|$57.6M|$175.9M|

## 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|$133,272|—|$133,272|

| MITCHELL & TITUS, LLP|Auditor|—|—|$0|

### 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) — Auditor

## Plan Fees & Expenses

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

- **Total Service Provider Fees:** $133,272

- **Estimated Expense Ratio:** 0.002% 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|$6,476,918|$6,343,646|—|—|—|

| 2023|$6,679,927|$6,500,556|—|—|—|

| 2022|$8,323,256|$8,104,993|$125|—|—|

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[View full interactive plan profile on PlanProvider.Pro](https://planprovider.pro/companies/verizon-communications-inc-401k-plan-011)

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