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: 102
- Total Participants: 112,629
- Total Assets: $31.3B
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 | 112,629 | $31.3B | $0 | $0 |
| 2024 | 63,563 | $29.4B | $462.1M | $828.3M |
| 2023 | 69,218 | $27.8B | $477.5M | $833.5M |
| 2022 | 78,072 | $25.2B | $479.9M | $848.7M |
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 | $2,091,834 | — | $2,091,834 |
| VERIZON COMMUNICATIONS INC. | Other Service Provider | $1,475,803 | — | $1,475,803 |
| BOSTON PARTNERS GLOBAL INVSTRS, INC | Other Service Provider | $1,255,178 | — | $1,255,178 |
| AON HEWITT | Other Service Provider | $519,840 | — | $519,840 |
| JENNISON ASSOCIATES LLC | Other Service Provider | $352,777 | — | $352,777 |
| MORGAN STANLEY INVESTMENT MANAGEMEN | Other Service Provider | $303,584 | — | $303,584 |
| GQG PARTNERS LLC | Other Service Provider | $150,000 | — | $150,000 |
| ABEL NOSER | Other Service Provider | $105,198 | — | $105,198 |
| THOMPSON HINE | Other Service Provider | $104,428 | — | $104,428 |
| DUANE MORRIS | Other Service Provider | $92,739 | — | $92,739 |
| BLOOMBERG FINANCE | Other Service Provider | $68,500 | — | $68,500 |
| MITCHELL AND TITUS LLP | Other Service Provider | $61,285 | — | $61,285 |
| KPMG | Other Service Provider | $58,167 | — | $58,167 |
| DLA PIPER | Other Service Provider | $53,601 | — | $53,601 |
| BNY MELLON | Other Service Provider | $36,765 | — | $36,765 |
| DONNELLEY FINANCIAL LLC | Other Service Provider | $35,902 | — | $35,902 |
| CEM BENCHMARKING | Other Service Provider | $35,000 | — | $35,000 |
| MERCER INVESTMENTS LLC | Other Service Provider | $26,920 | — | $26,920 |
| S&P DOW JONES | Other Service Provider | $20,056 | — | $20,056 |
| WOLFE RESEARCH | Other Service Provider | $19,000 | — | $19,000 |
| BROADRIDGE | Other Service Provider | $12,586 | — | $12,586 |
| EVESTMENT ALLIANCE | Other Service Provider | $12,119 | — | $12,119 |
| AYCO | Other Service Provider | $10,698 | — | $10,698 |
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $6,901,980
- 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 | $3,494,140,904 | $41,944,597 | $588,705 | $61,285 | — |
| 2024 | $56,080,620 | $50,224,604 | $491,928 | $64,508 | — |
| 2023 | $56,641,057 | $49,896,428 | $543,737 | $57,783 | — |
| 2022 | $72,230,063 | $62,790,564 | $8,207,720 | — | $385,715 |