Plan Snapshot
- Plan Sponsor: Verizon Corporate Services Group INC.
- Sponsor EIN: 131675522
- Sponsor Address: ONE VERIZON WAY,, BASKING RIDGE, NJ, 07920
- Plan Type: DB
- Total Participants: 9,117
- Total Assets: $1.6B
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 | 9,117 | $1.6B | $80.0M | $0 |
| 2023 | 11,147 | $2.9B | $53.4M | $0 |
| 2022 | 12,474 | $2.9B | $0 | $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 | $3,874,485 | — | $3,874,485 |
| AON CONSULTING INC. | NONE | $327,890 | — | $327,890 |
| VERIZON COMMUNICATIONS INC. | EMPLOYER | $261,643 | — | $261,643 |
| DATABANK IMX LLC | NONE | $142,109 | — | $142,109 |
| PRINCIPAL BANK | NONE | $82,133 | — | $82,133 |
| DUANE MORRIS LLP | NONE | $65,630 | — | $65,630 |
| MITCHELL & TITUS, LLP | NONE | $43,157 | — | $43,157 |
| DELAWARE CHARTER GUARANTEE | NONE | $14,876 | — | $14,876 |
Verified Provider Profiles
Direct links to verified profiles of matched retirement plan providers on PlanProvider.Pro:
- AON CONSULTING INC. — NONE
- DUANE MORRIS LLP — NONE
- MITCHELL & TITUS, LLP — NONE
- DELAWARE CHARTER GUARANTEE — NONE
Plan Fees & Expenses
Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.
- Total Service Provider Fees: $4,811,923
- Estimated Expense Ratio: 0.293% 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 | $11,081,733 | — | $1,223,342 | $43,157 | — |
| 2023 | $11,336,994 | — | $1,392,004 | $55,620 | — |
| 2022 | $11,221,744 | — | — | — | $3,971,726 |