Overview

Plan Rating

BrightScope Rating
84
Lowest Rating in Peer Group
Average Rating in Peer Group
Highest Rating in Peer Group
0102030405060708090100
Lowest in Peer Group (43)
Average in Peer Group (79)
Highest in Peer Group (91)

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 84. This plan is in the top 15% of plans for Account Balances, Company Generosity, Participation Rate, Salary Deferral, and Total Plan Cost. Verizon Savings Plan for Management Employees currently has over 144,500 active participants and over $20.4B in plan assets.

Did you know?

For the average 401k participant, the 7 point difference between this plan's BrightScope Rating (84) and the top rated plan (91) could equate to:
7
Additional years of work
*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. How is this calculated?

Plan Details

Plan Details Relevant details about the plan and the plan sponsor, including the address and industry of the plan sponsor and the size of the plan in assets and participants.

 
Plan data accurate as of 12/31/2014
Plan data has been audited by an Independent Qualified Public Accountant (IQPA).
Address One Verizon Way, Mail Code Vc34e249
  • Location
    Basking Ridge , NJ
  • 07920
  • Industry
    Information
  • Administrator
    Jonathan Hayes
  • Net Plan Assets
    $20,400,000,000
  • Total Participants
    140,000
  • Avg Account Balance
    $140,000

Plan Components

Component Ratings

Design

Total Plan Cost:
Lowest Fees
Company Generosity:
Great

Performance

Participation Rate:
Great
Salary Deferrals:
Great
Account Balance:
Great

Design

Total Plan Cost:
Low Fees
Company Generosity:
Great

Performance

Participation Rate:
Great
Salary Deferrals:
Above Average
Account Balance:
Above Average

Peer Group Plans

Company Rating
Microsoft 86.0
Fmr LLC 85.8
Citigroup 79.5
AT&T 79.0
JPMorgan Chase Bank 74.1
State Farm Mutual Automobile Insurance Company 71.1
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Investments

Investment Menu Stats

# of Investment Options

59

(Plan Average: 20)

Largest Funds in this Plan Allocation of Assets 1 YR Rank in Category
Verizon Communications, Inc. Common Stock 23%
N/A
BNY Mellon Daily Liquidity Stock Index 10%
N/A
Fidelity Stable Value Fund 6%
N/A
Fund hidden
100%
Fund hidden
100%
Fund hidden
100%
Fund hidden
100%
View all funds in this plan

Providers

Plan Service Providers

SERVICE PROVIDER
Recordkeeper
Fidelity
Investment Adviser
Verizon
Administration
Verizon
Consultant
Xerox HR Solutions, LLC
Consultant
Bloomberg Inc.
Consultant
FactSet Research Systems Inc.
Legal Counsel
Thompson Hine
Consultant
R.R. Donnelley
Consultant
Standard & Poors Investment Advisory Services LLC
Legal Counsel
Covington & Burling
Consultant
Zeno Consulting
Legal Counsel
Duane Morris
Consultant
Evestment Alliance LLC
Legal Counsel
Kirkpatrick & Lockhart
Auditor
Mitchell & Titus, LLP

Articles and Questions

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