Verizon Communications Inc. 401(k) Review & Grade
Verizon Savings Plan for Management Employees
Basking Ridge, NJInformation66,390 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$6,960Employer $ per active participant
$12,476Employee $ saved per active participant
0.20%Direct admin cost, % of plan assets
$29.4BNet plan assets, end of year
$248,321Average balance per account
Score breakdown
- Employer generosity39.7 / 5079th percentile for employer $ per participant
- Low cost4.6 / 2518th percentile for low admin cost vs. same-size plans
- Employee saving9.8 / 1566th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score64 / 100 · Grade B
This plan vs. peers
Peers: Information plans with 10,000+ active participants (30 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 79th |
| Lower admin cost | 18th |
| Employee saving | 66th |
| Peers that auto-enroll | 60% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Verizon Communications put in about $6,960 per active participant, more than the typical peer ($5,217). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Direct plan expenses (0.20% of assets) are well above similar-size plans (0.09%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $462,054,878 |
| Participant (employee) contributions | $828,259,862 |
| Other contributions (incl. rollovers in) | – |
| Administrative expenses paid from the plan | $56,080,620 |
| Contract administrator fees | $491,928 |
| Investment advisory & management fees | $50,224,604 |
| Other admin expenses | $113,717 |
| Benefits paid out | $3,402,219,664 |
| Net assets, start / end of year | $27.8B / $29.4B |
| Active participants, start / end of year | 69,218 / 63,563 |
| Participants with account balances | 118,299 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Mitchell & Titus, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $2,422,556 reported compensation |
| Verizon Communications Inc. | $846,268 reported compensation |
| JP Morgan Invest. Management, Inc. | $700,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250625074519NAL0011196096001, received 2025-06-25, EIN 23-2259884, plan #102, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.