# Verizon Communications INC. DB Plan
Source: https://planprovider.pro/companies/verizon-communications-inc-plan-016-9884

> Verizon Communications INC.'s DB plan: 21,270 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:** DB

- **Total Participants:** 21,270

- **Total Assets:** $5.7B

## Key Plan Design Features

- **Auto-Enrollment:** No

- **Auto-Escalation:** No

- **Allows Roth Contributions:** No

- **Participant Loans:** No

- **Participant-Directed Investments:** No

- **ERISA Section 404(c) Fiduciary Safe Harbor:** No

## Plan Financials by Year

| Year|Participants|Total Assets|Employer Contrib.|Employee Contrib.|

| 2024|21,270|$5.7B|$481.1M|$0|

| 2023|22,644|$10.9B|$311.9M|$0|

| 2022|23,778|$10.9B|$200.0M|$0|

## 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|

| CONDUENT INCORPORATED|NONE|$8,637,715|—|$8,637,715|

| AON CONSULTING INC.|NONE|$545,132|—|$545,132|

| VERIZON COMMUNICATIONS INC.|EMPLOYER|$404,100|—|$404,100|

| DATABANK IMX LLC|NONE|$345,154|—|$345,154|

| PRINCIPAL BANK|NONE|$312,622|—|$312,622|

| DUANE MORRIS LLP|NONE|$71,033|—|$71,033|

| DELAWARE CHARTER GUARANTEE|NONE|$58,964|—|$58,964|

| MITCHELL & TITUS, LLP|NONE|$43,157|—|$43,157|

| THE AYCO COMPANY L.P.|NONE|$9,024|—|$9,024|

| SEDGWICK CLAIMS|NONE|$6,350|—|$6,350|

### Verified Provider Profiles

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

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

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

- [DELAWARE CHARTER GUARANTEE](https://planprovider.pro/provider/principal-financial-group-inc) — NONE

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

## Plan Fees & Expenses

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

- **Total Service Provider Fees:** $10,433,251

- **Estimated Expense Ratio:** 0.183% 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|$21,781,914|—|$2,382,454|$43,157|—|

| 2023|$22,956,133|—|$3,099,519|$55,620|—|

| 2022|$21,501,803|—|—|—|$8,757,659|

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[View full interactive plan profile on PlanProvider.Pro](https://planprovider.pro/companies/verizon-communications-inc-plan-016-9884)

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