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401(k) Retirement Plan · Active

VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES

VERIZON COMMUNICATIONS INC.·EIN 232259884
ONE VERIZON WAY, · BASKING RIDGE, NJ 07920
Plan year
2024
Plan #
004
Industry
Filing ACK
202506250745…
Prospect flagsNo flags tripped

Summary metrics

Total assets (EOY)
$3449.9M
$230,748 per participant
Active participants
15,222
83.1% participation
Participation rate
83.1%
88th percentile
Annual return
13.43%
27th percentile
Admin expense
0.18%
% of assets
Flag timeline

Issue history by plan year

Tripped years: 0Watched years: 0
Section 02

How this plan compares

Peer groupIndustry51, Assets>$1B, Participants>=10,000, Snapshot2024
  • Participant contribution
    $9,28729th pctile
  • Employer contribution
    $4,41032nd pctile
  • Participation rate
    83.1%88th pctile
  • Assets per participant
    $230,74861st pctile
  • Expense efficiency
    $40922nd pctile
  • Annual return
    13.43%27th pctile
Overall peer rank

Averaged across 6 normalized metrics within the selected peer group.

Fee trend
Return trend
Section 03

10-year trajectory2021 - 2024

How plan year 2024 played out
Asset flow
+$249.91M
Start of year to end of year
Section 04

Asset composition

End-of-year allocation
Cash drag vs peers
Section 04

Service providers

Top 10 of 12 by compensation
ProviderService typeCompensation
FIDELITY INVESTMENTS INSTITUTIONAL
Service code 15
Recordkeeping
$477,706
VERIZON COMMUNICATIONS INC.
Service code 14
Plan Administrator
$96,963
MITCHELL TITUS LLP
Service code 10
Accounting
$59,508
AON CONSULTING, INC
Service code 16
Consulting
$53,030
DONNELLEY FINANCIAL LLC
Service code 10
Accounting
$17,153
DUANE MORRIS
Service code 29
Legal
$17,017
ABEL NOSER SOLUTIONS
Service code 27
Advisory (Plan)
$15,093
THOMPSON HINE LLP
Service code 29
Legal
$12,246
BLOOMBERG FINANCE
Service code 27
Advisory (Plan)
$11,656
ALTERNATIVESOFT AG
Service code 27
Advisory (Plan)
$9,068
Section 05

Plan features & details

Show features, contributions, expenses, fidelity bond & compliance
Pension benefit codes2E2F2G2I2J2K2O2S2T3H
Plan features
  • 2E
    Profit-sharing
    Profit-sharing plan.
  • 2F
    ERISA section 404(c) plan
    This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
  • 2G
    Total participant-directed account plan
    Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
  • 2I
    Stock bonus
    Stock bonus plan.
  • 2J
    Code section 401(k) feature
    Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
  • 2K
    Code section 401(m) arrangement
    Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
  • 2O
    ESOP other than a leveraged ESOP
    Employee stock ownership plan that is not leveraged.
  • 2S
    Automatic enrollment
    Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
  • 2T
    Default investment account
    Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
  • 3H
    Controlled group member
    Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Contributions
Employer total$51,478,712
Participant total$108,416,014
Employer / P$4,410
Participant / P$9,287
Expenses
Admin expenses$4,775,865
Per participant$409.10
% of assets0.14%
Fidelity bond
Coverage amount$100,000,000
% of assets2.90%Below ERISA §412 10% minimum
Section 06

Other plans under this sponsor

Same EIN ·232259884
Plan #102$29,376,133,902
VERIZON SAVINGS PLAN FOR MANAGEMENT EMPLOYEES
Plan #011$5,752,649,703
VERIZON SAVINGS & SECURITY PLAN FOR NEW YORK AND NEW ENGLAND ASSOCIATES
Plan #016$5,695,652,215
VERIZON PENSION PLAN FOR ASSOCIATES
Plan #105$316,433,826
VERIZON SAVINGS AND SECURITY PLAN FOR WEST REGION HOURLY EMPLOYEES