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Company:
Verizon Communications, Inc.
Plan:
Verizon Savings Plan for Management Employees
 

Verizon Communications, Inc.

85 Plan:

 
 
85
35
70
90
0
10
20
30
40
50
60
70
80
90
100
For the average 401k participant, the 5 point difference between this plan's BrightScope Rating (85) and the top rated plan (90) could equate to:
[How is this calculated?]
5 additional years of work
Up to $7,300 in lost retirement savings.
The delay in retirement calculations apply solely to this defined contribution plan and do not take into account other retirement plans and programs offered by this employer.

 

Retirement Plan Description

Verizon Savings Plan for Management Employees is a defined contribution plan with a profit-sharing component, 401k feature, ESOP component, and leveraged ESOP component. This plan has a BrightScope Rating of 85, placing it in the top 15% of all plans in its peer group. This plan is also in the top 15% of plans for Account Balances, Company Generosity, Salary Deferral, and Total Plan Cost. Verizon Savings Plan for Management Employees currently has over 75,900 active participants and over $11.7B in plan assets.


 Investment Menu Statistics

No. of Investment Options
66
Plan Average: 20
Largest Funds in this 401k: based on % allocation of assets
1. Verizon Communications, Inc. Common Stock 26%
2. BNY Mellon Daily Liquidity Stock Index 8%
3. Verizon Management Income 4%

 Retirement Plan Details

Address One Verizon Way, Mail Code Vc63n009
Basking Ridge, NJ 07920 
Industry Information
Administrator Donna Chiffriller
Net Plan Assets $11,700,000,000
Total Participants 76,000
Avg Account Balance $160,000

 Compare Other Companies in Peer Group

Microsoft 84.2
American Express Company 82.2
Citigroup 78.7
Edward D. Jones & Co. 77.2
Comcast 68.5
Time Warner Cable 66.3

  Plan Service Providers

Recordkeeper Fidelity
Investment Adviser Verizon
Administration Verizon
Consultant Curcio Webb
Administration Aon Hewitt
Legal Counsel Covington & Burling
Legal Counsel D. Brennan Reilly Pc
Consultant Mercer (Marsh & McLennan)
Legal Counsel Proskauer Rose LLP
Auditor Mitchell & Titus, LLP