Retirement plan
VERIZON SAVINGS AND SECURITY PLAN FOR WEST HOURLY EMPLOYEES
VERIZON COMMUNICATIONS INC.EIN 23-2259884Plan #105PY 2015
ONE VERIZON WAY,, MAIL CODE VC34W419 - BASKING RIDGE, NJ 07920908-559-3757
Other plans on this EIN
4 filingsProspect flagsNo flags tripped
Filing contacts
From the Form 5500, federal recordPlan administrator entity
VERIZON EMPLOYEE BENEFITS COMMITTEE VERIZON COMMUNICATIONS INC
EIN 232259884
Summary metrics
Total assets (EOY)
$1105.9M
+159.5% from 2016
Total participants
13,529
+183.4% from 2016
Average account balance
$87,911
-4.1% from 2016
Annual return
2.01%
+52.15 pp from 2016
Benchmarks
Peer group
Industryany (size+type match)
Plan typeDefined contribution
Participants5,000-9,999
Cohort960 peers
Snapshot2015
73
Participant deferral / active EE
$5,778
median $2,863
63
Employer contribution / active EE
$2,558
median $1,467
56
Participation rate
88.6%
median 84.4%
77
Avg account balance
$87,911
median $45,342
8
Admin fee / account holder
$142
median $34
70
Annual return
2.01%
median 0.87%
Overall peer rank
58of 100
58th percentileavg across 6 metrics
Analytics
2015 - 2024
Total assets (EOY)
Plan-year ending balance
$316.43M
Average account balance
Total assets / participants with a balance (line 6g)
$129K
Participants with account balance
Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.
2,448
Eligible Participants and Participation
Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.
92.8%
Contributions (total)
Employer and participant dollars contributed each year
$5.75M
Contributions per participant
Average employer and participant contribution per enrolled participant
$13K
Asset flow
BOY + contributions + return - distributions = EOY
Year
Annual return
Diverging bars; negative years highlighted
+13.48%
Admin fee / account holder
Total admin expenses / participants with a balance (line 6g)
$229
Asset composition
Cash / stocks / bonds / mutual funds / real estate / loans over time
- Mutual / pooled
- Stocks
- Bonds
- Cash
- Real estate
- Loans
Service providers
Top 10 of 12 by compensation
| Provider | Service type | Compensation |
|---|---|---|
FIDELITY INVESTMENTS FIRST CO1+ years Service code 15 · EIN 04-2647786 | Recordkeeping | $308,240 |
VERIZON COMMUNICATIONS1+ years Service code 14 · EIN 23-2259884 | Plan Administrator | $86,567 |
XEROX CORPORATION1+ years Service code 16 · EIN 16-0468020 | Consulting | $62,465 |
MITCHELL AND TITUS LLP1+ years Service code 10 · EIN 13-2781641 | Accounting | $48,245 |
FACTSET1+ years Service code 16 · EIN 13-3362547 | Consulting | $16,806 |
RR DONNELLEY1+ years Service code 16 · EIN 88-0222636 | Consulting | $16,263 |
THOMPSON HINE LLP1+ years Service code 29 · EIN 34-0575300 | Legal | $7,031 |
BLOOMBERG1+ years Service code 16 · EIN 13-3417984 | Consulting | $6,919 |
CEM1+ years Service code 38 · EIN 98-0180257 | Participant Communication | $6,250 |
D. BRENANAN RILEY1+ years Service code 29 · EIN 76-0634363 | Legal | $6,070 |
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.
Plan features & details
Pension benefit codes2E2F2H2J2K2O3H3I
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).
- 2HPartial participant-directed account planParticipants 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.
- 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.
- 3HControlled group memberPlan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).
- 3IEmployer securities investment requiredPlan 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
$1.8M
$216 / participant
- Investment mgmt$1M67.3%
- Contract admin$380K21.2%
- Other / not subdivided$205K11.5%
% of EOY assets
0.162%
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