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401(k) Retirement Plan · Active

VERIZON PENSION PLAN FOR ASSOCIATES

VERIZON COMMUNICATIONS INC.·EIN 232259884
ONE VERIZON WAY, · BASKING RIDGE, NJ 07920
Plan year
2024
Plan #
016
Industry
Filing ACK
202510081536…
Prospect flagsNo flags tripped

Summary metrics

Total assets (EOY)
$5695.7M
$0 per participant
Active participants
37,982
60.8% participation
Participation rate
60.8%
39th percentile
Annual return
-2.42%
0th percentile
Admin expense
0.68%
% 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
    $00th pctile
  • Employer contribution
    $22,61795th pctile
  • Participation rate
    60.8%39th pctile
  • Assets per participant
    $00th pctile
  • Expense efficiency
    $1,0247th pctile
  • Annual return
    -2.42%0th 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
-$5.24B
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 by compensation
ProviderService typeCompensation
CONDUENT INCORPORATED
Service code 36
Recordkeeping fees; Copying and dupli...
$8,637,715
AON CONSULTING INC.
Service code 11
Actuarial
$545,132
VERIZON COMMUNICATIONS INC.
Service code 14
Plan Administrator
$404,100
DATABANK IMX LLC
Service code 15
Recordkeeping
$345,154
PRINCIPAL BANK
Service code 13
Contract Administrator
$312,622
DUANE MORRIS LLP
Service code 29
Legal
$71,033
DELAWARE CHARTER GUARANTEE
Service code 13
Contract Administrator
$58,964
MITCHELL & TITUS, LLP
Service code 10
Accounting
$43,157
THE AYCO COMPANY L.P.
Service code 17
Pension Consulting
$9,024
SEDGWICK CLAIMS
Service code 17
Pension Consulting
$6,350
Section 05

Plan features & details

Show features, contributions, expenses, fidelity bond & compliance
Pension benefit codes1A3H1E
Plan features
  • 1A
    Benefits are primarily pay related
    Benefits under the plan are primarily determined with reference to a participant's pay (e.g. final-average-pay formula).
  • 3H
    Controlled group member
    Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
  • 1E
    Section 401(h) arrangement
    Plan contains separate accounts under Code section 401(h) to provide employee health benefits.
Contributions
Employer total$481,071,250
Participant total$0
Employer / P$22,617
Participant / P$0
Expenses
Admin expenses$21,781,914
Per participant$1,024.07
% of assets0.38%
Fidelity bond
Coverage amount$100,000,000
% of assets1.76%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 #004$3,449,908,718
VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES
Plan #105$316,433,826
VERIZON SAVINGS AND SECURITY PLAN FOR WEST REGION HOURLY EMPLOYEES