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Retirement plan

VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES

VERIZON COMMUNICATIONS INC.EIN 23-2259884Plan #004PY 2015
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ONE VERIZON WAY,, MAIL CODE VC34W419 - BASKING RIDGE, NJ 07920908-559-3757
Other plans on this EIN
4 filings
#102Retirement-$20.13B assets#011Retirement-$4.67B assets#002Retirement-$3.83B assets#105Retirement-$1.11B assets
Prospect flagsNo flags tripped

Filing contacts

From the Form 5500, federal record
Plan sponsor & administrator signer
JONATHAN HAYES
Signed 07/21/2016
(908) 559-3757
Plan administrator entity
CHAIRPERSON OF THE VEBC
EIN 300940361
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Summary metrics

Total assets (EOY)
$2636.6M
-7.9% from 2016
Total participants
23,078
+5.1% from 2016
Average account balance
$118,878
-13.1% from 2016
Annual return
2.12%
-9.37 pp from 2016

Benchmarks

See 45 peers
Peer group
Industry51 - Information
Plan typeDefined contribution
Participants>=10,000
Cohort45 peers
Snapshot2015
Participant deferral / active EE
$5,535
median $4,044
Employer contribution / active EE
$2,970
median $2,161
Participation rate
94.7%
median 87.5%
Avg account balance
$118,878
median $87,544
Admin fee / account holder
$160
median $54
Annual return
2.12%
median 0.84%
Overall peer rank
59th percentileavg across 6 metrics

Analytics

2015 - 2024
Total assets (EOY)
Plan-year ending balance
$3.45B
Average account balance
Total assets / participants with a balance (line 6g)
$231K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
14,951
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
97.7%
Contributions (total)
Employer and participant dollars contributed each year
$159.89M
Contributions per participant
Average employer and participant contribution per enrolled participant
$14K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+13.43%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$319
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
  • Mutual / pooled
  • Stocks
  • Bonds
  • Cash
  • Real estate
  • Loans

Service providers

Top 10 by compensation
ProviderService typeCompensation
FIDELITY INVESTMENTS INSTITUTIONAL1+ years
Service code 15 · EIN 04-2647786
Recordkeeping
$727,030
VERIZON COMMUNICATIONS1+ years
Service code 14 · EIN 23-2259884
Plan Administrator
$182,785
XEROX CORPORATION1+ years
Service code 16 · EIN 16-0468020
Consulting
$50,542
MITCHELL & TITUS LLP1+ years
Service code 10 · EIN 13-2781641
Accounting
$48,245
FACTSET1+ years
Service code 16 · EIN 13-3362547
Consulting
$37,141
THOMPSON HINE LLP1+ years
Service code 29 · EIN 34-0575300
Legal
$15,615
BLOOMBERG1+ years
Service code 16 · EIN 13-3417984
Consulting
$15,301
PRICEWATEROUSECOOPERS1+ years
Service code 16 · EIN 13-4008324
Consulting
$12,152
ZENO1+ years
Service code 16 · EIN 95-4154420
Consulting
$10,433
CEM1+ years
Service code 38 · EIN 98-0180257
Participant Communication
$6,250

Top hat statement on fileNQDC

Filed September 28, 1999 (most recent of 3 filings on file)

This is a legacy paper filing. Plan administrator and contact details are recorded in the original filing, which has not been digitised into structured fields.

Open the filing PDF

Plan features & details

Pension benefit codes2E2F2H2I2J2K2O3H3I
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).
  • 2H
    Partial participant-directed account plan
    Participants have the opportunity to direct the investment of a portion 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.
  • 3H
    Controlled group member
    Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
  • 3I
    Employer securities investment required
    Plan requiring that all or part of employer contributions be invested and held at least for a limited period in employer securities.

Opportunity flags

0 tripped
No flags tripped for this filing year. This plan looks clean.

Expense breakdown

Schedule H Part II
Admin total
$3.5M
$207 / participant
  • Investment mgmt$2M68.4%
  • Contract admin$873K24.7%
  • Other / not subdivided$245K6.9%
% of EOY assets
0.134%
all-in expense ratio
Categories reported
2 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Unqualified opinion

Auditor signed off without reservation - the cleanest possible opinion.

Auditor firm
MITCHELL & TITUS, LLP
Auditor EIN
132781641
Audit fees
(not subdivided)
Opinion code
Unqualified