# Verizon Communications INC. 401(k) Plan
Source: https://planprovider.pro/companies/verizon-communications-inc-401k-plan-102

> Verizon Communications INC.'s 401(k) plan: 63,563 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:** 63,563

- **Total Assets:** $29.4B

## 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|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|$2,422,556|—|$2,422,556|

| VERIZON COMMUNICATIONS INC.|EMPLOYER|$846,268|—|$846,268|

| JP MORGAN INVEST. MANAGEMENT, INC.|NONE|$700,000|—|$700,000|

| MORGAN STANLEY INVEST. MGMT. INC.|NONE|$494,946|—|$494,946|

| AON CONSULTING, INC|NONE|$463,872|—|$463,872|

| ARISTOTLE CAPITAL MANAGMENT, LLC|NONE|$436,094|—|$436,094|

| GQG PARTNERS LLC|NONE|$396,038|—|$396,038|

| HARRIS ASSOCIATES L.P.|NONE|$383,780|—|$383,780|

| DUANE MORRIS|NONE|$142,462|—|$142,462|

| ABEL NOSER SOLUTIONS|NONE|$130,270|—|$130,270|

| THOMPSON HINE|NONE|$106,465|—|$106,465|

| BLOOMBERG FINANCE|NONE|$102,197|—|$102,197|

| ALTERNATIVESOFT AG|NONE|$80,342|—|$80,342|

| MITCHELL AND TITUS LLP|NONE|$64,508|—|$64,508|

| PROSKAUER|NONE|$63,023|—|$63,023|

| BROADRIDGE|NONE|$46,399|—|$46,399|

| BNY MELLON|NONE|$36,508|—|$36,508|

| DONNELLEY FINANCIAL LLC|NONE|$34,444|—|$34,444|

| CEM BENCHMARKING|NONE|$34,000|—|$34,000|

| WOLFE RESEARCH|NONE|$19,000|—|$19,000|

| AYCO|NONE|$17,184|—|$17,184|

| EVESTMENT ALLIANCE|NONE|$11,078|—|$11,078|

| KPMG|NONE|$10,873|—|$10,873|

| MERCER INVESTMENTS LLC|NONE|$9,840|—|$9,840|

| WOLTERS KLUWER|NONE|$5,156|—|$5,156|

### 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

- [JP MORGAN INVEST. MANAGEMENT, INC.](https://planprovider.pro/provider/jp-morgan-asset-management) — NONE

- [MORGAN STANLEY INVEST. MGMT. INC.](https://planprovider.pro/provider/morgan-stanley) — NONE

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

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

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

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

- [KPMG](https://planprovider.pro/provider/kpmg-llp) — NONE

## Plan Fees & Expenses

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

- **Total Service Provider Fees:** $7,057,303

- **Estimated Expense Ratio:** 0.024% 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|$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|

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