401(k) Retirement Plan · Active
VERIZON SAVINGS & SECURITY PLAN FOR NEW YORK AND NEW ENGLAND ASSOCIATES
VERIZON COMMUNICATIONS INC.·EIN 232259884
ONE VERIZON WAY, · BASKING RIDGE, NJ 07920
Plan year
2024
Plan #
011
Industry
Filing ACK
202506250746…
Prospect flagsNo flags tripped
Summary metrics
Total assets (EOY)
$5752.6M
$344,305 per participant
Active participants
17,055
80.6% participation
Participation rate
80.6%
85th percentile
Annual return
13.73%
39th percentile
Admin expense
0.16%
% of assets
Flag timeline
Issue history by plan year
Tripped years: 0Watched years: 0
2021
Clean
2022
Clean
2023
Clean
2024
Clean
CleanWatchedTripped (shade = count)
Section 02
How this plan compares
Peer groupIndustry51, Assets>$1B, Participants>=10,000, Snapshot2024
- Participant contribution$12,31749th pctile
- Employer contribution$4,75437th pctile
- Participation rate80.6%85th pctile
- Assets per participant$344,30576th pctile
- Expense efficiency$53117th pctile
- Annual return13.73%39th pctile
Overall peer rank
- Bottom quartile
- Mid
- Top quartile
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
+$394.80M
Start of year to end of year
Section 04
Asset composition
End-of-year allocation
Cash drag vs peers
Plan cash
0.0%
Peer average
0.4%
In line with peersPeer marker at 0.4%
Section 04
Service providers
Top 1 by compensation
| Provider | Service type | Compensation |
|---|---|---|
FIDELITY INVESTMENTS INSTITUTIONAL Service code 15 | Recordkeeping | $133,272 |
Section 05Plan features & details
ShowHide features, contributions, expenses, fidelity bond & compliancePension benefit codes2E2F2G2I2J2K2O2T3H
Section 05
Plan features & details
ShowHide features, contributions, expenses, fidelity bond & compliance
Pension benefit codes2E2F2G2I2J2K2O2T3H
Plan features
- 2EProfit-sharingProfit-sharing plan.
- 2FERISA section 404(c) planThis plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
- 2GTotal participant-directed account planParticipants 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.
- 2IStock bonusStock bonus plan.
- 2JCode section 401(k) featureCash 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.
- 2KCode section 401(m) arrangementEmployee 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.
- 2OESOP other than a leveraged ESOPEmployee stock ownership plan that is not leveraged.
- 2TDefault investment accountTotal or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
Contributions
Employer total$58,014,566
Participant total$150,306,581
Employer / P$4,754
Participant / P$12,317
Expenses
Admin expenses$6,476,918
Per participant$530.76
% of assets0.11%
Fidelity bond
Coverage amount$100,000,000
% of assets1.74%Below ERISA §412 10% minimum
Section 06
Other plans under this sponsor
Same EIN ·232259884