Retirement plan

VERIZON MANAGEMENT PENSION PLAN

Name: VERIZON CORPORATE SERVICES GROUP INC. - VERIZON MANAGEMENT PENSION PLAN (2017) Form 5500
Creator: VERIZON CORPORATE SERVICES GROUP INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, VERIZON MANAGEMENT PENSION PLAN, VERIZON CORPORATE SERVICES GROUP INC.

VERIZON CORPORATE SERVICES GROUP INC.EIN 13-1675522Plan #001PY 2017

ONE VERIZON WAY, - BASKING RIDGE, NJ 07920908-559-3342LinkedIn1-10 employeesmotion pictures and film

Prospect flagsHigh retiree %

How to read this page

Total assets (EOY)

$4665M

-15.0% from 2016

Total participants

86,187

+9.4% from 2016

Average account balance

No prior year

Annual return

23.31%

-2.45 pp from 2016

Benchmarks

See 240 peers

Peer group

Industryany (size+type match)

Plan typeDefined benefit

Participants>=10,000

Cohort240 peers

Snapshot2017

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$1.64B

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$47K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

25,685

Not enough data

1 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

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$80.00M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

-2.60%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

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Service providers

Top 10 of 11 by compensation

Provider	Service type	Compensation
XEROX CORPORATION3+ years Service code 36 · EIN 16-0468020	Other services; Recordkeeping fees; D...	$2,334,500
CONDUENT HR CONSULTING, LLC1 year Filed as: CONDUENT INCORPORATED Service code 36 · EIN 81-2983623	Direct payment from the plan; Recordk...	$2,256,496
AON CONSULTING3+ years Filed as: AON CONSULTING INC Service code 11 · EIN 22-2232264	Actuarial	$1,077,610
VERIZON COMMUNICATIONS INC.1 year Service code 13 · EIN 23-2259884	Contract Administrator	$350,356
DATABANK IMX LLC3+ years Service code 15 · EIN 25-1921937	Recordkeeping	$163,138
WELLS FARGO BANK, N.A.3+ years Filed as: WELLS FARGO & CO Service code 13 · EIN 94-1347393	Contract Administrator	$143,390
WILLCOX & SAVAGE, P.C.1 year Service code 29 · EIN 54-0976999	Legal	$41,610
MITCHELL & TITUS, LLP3+ years Service code 10 · EIN 13-2781641	Accounting	$30,789
LEWIS ROCA ROTHGERBER CHRISTIE2 years Service code 29 · EIN 86-0095078	Legal	$19,903
AYCO1 year Filed as: THE AYCO COMPANY L.P. Service code 16 · EIN 33-1187432	Consulting	$6,744

Enrolled actuary

1 attachment

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Plan features & details

Pension benefit codes1A1C1E1I3H

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).
1C
Cash balance or similar plan
A cash balance formula in a defined benefit plan that expresses the accrued benefit in terms more common to a defined contribution plan such as a hypothetical account balance or single sum amount (includes personal account plan pension equity plan life cycle plan and cash account plan).
1E
Section 401(h) arrangement
Plan contains separate accounts under Code section 401(h) to provide employee health benefits.
1I
Frozen plan
As of the last day of the plan year the plan provides that no participant will get any new benefit accrual whether because of service or compensation.
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

$11.6M

$514 / participant

Investment mgmt$7M59.5%
Other / not subdivided$5M40.5%

% of EOY assets

0.249%

all-in expense ratio

Categories reported

1 / 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

Metric

This plan

Peer set

Industry

Size

Avg account balance

$14,491,905-100.0%

$256,121-100.0%

$14,491,905-100.0%

Participation rate

0.0%

5.3%-5.3pp

37.7%-37.7pp

5.3%-5.3pp

Annual return

23.31%

1057.21%-1033.9pp

9.60%+13.7pp

1057.21%-1033.9pp

Employer contribution / active EE

$3,624

$14,374-74.8%

$45,595-92.1%

$14,374-74.8%

Participant deferral / active EE

$351-100.0%

$255-100.0%

$351-100.0%

Admin fee / account holder

$81,210-100.0%

$9,523-100.0%

$81,210-100.0%

Provider

Service type

Compensation

XEROX CORPORATION3+ years

Service code 36 · EIN 16-0468020

Other services; Recordkeeping fees; D...

$2,334,500

CONDUENT HR CONSULTING, LLC1 year

Filed as: CONDUENT INCORPORATED

Service code 36 · EIN 81-2983623

Direct payment from the plan; Recordk...

$2,256,496

AON CONSULTING3+ years

Filed as: AON CONSULTING INC

Service code 11 · EIN 22-2232264

Actuarial

$1,077,610

VERIZON COMMUNICATIONS INC.1 year

Service code 13 · EIN 23-2259884

Contract Administrator

$350,356

DATABANK IMX LLC3+ years

Service code 15 · EIN 25-1921937

Recordkeeping

$163,138

WELLS FARGO BANK, N.A.3+ years

Filed as: WELLS FARGO & CO

Service code 13 · EIN 94-1347393

Contract Administrator

$143,390

WILLCOX & SAVAGE, P.C.1 year

Service code 29 · EIN 54-0976999

Legal

$41,610

MITCHELL & TITUS, LLP3+ years

Service code 10 · EIN 13-2781641

Accounting

$30,789

LEWIS ROCA ROTHGERBER CHRISTIE2 years

Service code 29 · EIN 86-0095078

Legal

$19,903

AYCO1 year

Filed as: THE AYCO COMPANY L.P.

Service code 16 · EIN 33-1187432

Consulting

$6,744

VERIZON MANAGEMENT PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

VERIZON MANAGEMENT PENSION PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Enrolled actuary

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion