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Retirement plan

VERIZON PENSION PLAN FOR MID-ATLANTIC AND SOUTH ASSOCIATES

VERIZON COMMUNICATIONS INC.EIN 23-2259884Plan #018PY 2017
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ONE VERIZON WAY, - BASKING RIDGE, NJ 07920908-559-3342
Other plans on this EIN
6 filings
#102Retirement-$24.49B assets#016Retirement-$10.69B assets#011Retirement-$5.35B assets#004Retirement-$3.06B assets#105Retirement-$417.7M assets#017Retirement-$186.3M assets
Prospect flagsHigh retiree %

Filing contacts

From the Form 5500, federal record
Plan sponsor & administrator signer
KEVIN CAMMARATA
Signed 10/13/2018
(908) 559-3342
Plan administrator entity
VERIZON EMPLOYEE BENEFITS COMMITTEE
EIN 384008214
How to read this page

Summary metrics

Total assets (EOY)
$5336.7M
-13.5% from 2017
Total participants
64,184
+3.6% from 2017
Average account balance
$0
No prior year
Annual return
12.16%
+479.21 pp from 2017

Benchmarks

See 240 peers
Peer group
Industryany (size+type match)
Plan typeDefined benefit
Participants>=10,000
Cohort240 peers
Snapshot2017
Participant deferral / active EE
$0
median $34
Employer contribution / active EE
$39,221
median $8,645
Participation rate
0.0%
median 0.0%
Avg account balance
$0
median $14,491,905
Admin fee / account holder
$0
median $81,210
Annual return
12.16%
median 13.24%
Overall peer rank
58th percentileavg across 6 metrics

Analytics

2016 - 2018
Total assets (EOY)
Plan-year ending balance
$0
Average account balance
Total assets / participants with a balance (line 6g)
$83K
Not enough data
2 years with per-participant data
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
48,886
Not enough data
2 years with headcount on file
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
0.0%
Not enough data
2 years with eligibility data
Contributions (total)
Employer and participant dollars contributed each year
$600.00M
Not enough data
2 years with contributions on file
Contributions per participant
Average employer and participant contribution per enrolled participant
$39K
Not enough data
2 years with per-participant contribution data
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
-91.46%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$0
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
Not enough data
2 years with F_SCH_H allocation on file

Service providers

Top 10 by compensation
ProviderService typeCompensation
XEROX CORPORATION2+ years
Service code 36 · EIN 16-0468020
Recordkeeping fees; Copying and dupli...
$2,668,954
CONDUENT INCORPORATED1 year
Service code 36 · EIN 81-2983623
Other services; Recordkeeping fees; D...
$2,208,852
AON CONSULTING INC.2+ years
Service code 11 · EIN 22-2232264
Actuarial
$592,429
WELLS FARGO & COMPANY2+ years
Service code 13 · EIN 94-1347393
Contract Administrator
$355,786
VERIZON COMMUNICATIONS INC.1 year
Service code 13 · EIN 23-2259884
Contract Administrator
$280,634
DATABANK IMX LLC2+ years
Service code 15 · EIN 25-1921937
Recordkeeping
$149,260
MITCHELL & TITUS, LLP2+ years
Service code 10 · EIN 13-2781641
Accounting
$62,042
DUANE MORRIS LLP1 year
Service code 29 · EIN 23-1392502
Legal
$29,532
REED SMITH LLP1 year
Service code 29 · EIN 25-0749630
Legal
$18,338
METROPOLITAN LIFE INSURANCE1 year
Service code 12 · EIN 13-5581829
Claims processing; Direct payment fro...
$16,000

Enrolled actuary

1 attachment
SB

DANIEL F. MCFALL

AON CONSULTING, INC.
Enrollment #1704341
4 OVERLOOK POINT
LINCOLNSHIRE, IL 60069
(847) 295-5000
Signed 2018-09-13

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 codes1A3H
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)).

Opportunity flags

1 tripped
  • InformationalHigh retiree %

    Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.

Expense breakdown

Schedule H Part II
Admin total
$11.0M
$717 / participant
  • Other / not subdivided$11M100.0%
% of EOY assets
0.206%
all-in expense ratio
Categories reported
0 / 9
subdivided buckets used

Audit opinion

Schedule H Part III
Disclaimer opinion

Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.

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