Employers › Verizon Communications › plan 102
Recordkeeping fees per participant · Verizon Savings Plan for Management Employees · plan year 2024
$34.85
Higher than 51% of the 790 plans over $1B that report it.
= $4,122,379 / 118,299
Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20250625074519NAL0011196096001, received 2025-06-25
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250625074519NAL0011196096001, received 2025-06-25
Percentiles compare this plan with the Schedule H plans over $1B in assets of the same plan year, excluding final filings; shown only where at least 50 comparable plans report the figure. Plan year 2024-01-01 to 2024-12-31, filing received 2025-06-25.
Administrative expenses excluding investment management, per participant
$49.50
Higher than 58% of the 1,045 plans over $1B that report it.
= $5,856,016 / 118,299
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250625074519NAL0011196096001, received 2025-06-25
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250625074519NAL0011196096001, received 2025-06-25
Administrative expenses per participant
$474.06
Higher than 99% of the 1,076 plans over $1B that report it.
= $56,080,620 / 118,299
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250625074519NAL0011196096001, received 2025-06-25
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250625074519NAL0011196096001, received 2025-06-25
Administrative expenses as a share of assets
0.191%
Higher than 98% of the 1,076 plans over $1B that report it.
= $56,080,620 / $29,376,133,902
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250625074519NAL0011196096001, received 2025-06-25
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250625074519NAL0011196096001, received 2025-06-25
Employer contributions per participant
$3,906
Higher than 53% of the 1,135 plans over $1B that report it.
= $462,054,878 / 118,299
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250625074519NAL0011196096001, received 2025-06-25
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250625074519NAL0011196096001, received 2025-06-25
Employer share of total contributions
35.8%
Higher than 60% of the 1,135 plans over $1B that report it.
= $462,054,878 / $1,290,314,740
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250625074519NAL0011196096001, received 2025-06-25
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250625074519NAL0011196096001, received 2025-06-25
98.7% of this plan's assets are held in a master trust. Costs reported at the trust level and allocated by the plan's share: administrative expenses $52,076,707 ($914.27 per participant including the plan's own Schedule H). Benchmarks and percentiles use the plan's own Schedule H only.
2E profit-sharing · 2F ERISA 404(c) plan · 2G fully participant-directed · 2I · 2J 401(k) feature · 2K 401(m) arrangement · 2O ESOP-related feature · 2S pre-approved plan document · 2T default investment (QDIA) · 3H controlled-group sponsor · Form 5500, line 8a; TYPE_PENSION_BNFT_CODE pos 81; filing 20250625074519NAL0011196096001, received 2025-06-25
| Field | Value | Source |
|---|---|---|
| Plan sponsor | VERIZON COMMUNICATIONS INC. | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Plan name | VERIZON SAVINGS PLAN FOR MANAGEMENT EMPLOYEES | Form 5500, line 1a; PLAN_NAME pos 16; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Sponsor EIN / plan number | 23-2259884 / 102 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Sponsor location | BASKING RIDGE, NJ | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Industry (business code) | 517000, Information | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Plan year | 2024-01-01 to 2024-12-31 | Form 5500, Part I plan year; FORM_PLAN_YEAR_BEGIN_DATE pos 2; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Filing received | 2025-06-25 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Participants, beginning of year | 126,153 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Active participants | 63,563 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Participants, end of year | 119,145 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Participants with an account balance | 118,299 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Total assets, beginning of year | $27,825,640,157 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Total assets, end of year | $29,376,133,902 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Net assets, end of year | $29,376,133,902 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Total income | $5,009,876,937 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Net income | $1,550,493,745 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Employer contributions | $462,054,878 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Participant contributions | $828,259,862 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Total contributions | $1,290,314,740 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Benefit payments | $3,402,219,664 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Total expenses (incl. benefit payments) | $3,459,383,192 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Total administrative expenses | $56,080,620 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Contract administrator fees | $491,928 | Schedule H, line 2i(2); CONTRACT_ADMIN_FEES_AMT pos 106; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Recordkeeping fees | $4,122,379 | Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| IQPA audit fees | $64,508 | Schedule H, line 2i(4); IQPA_AUDIT_FEES_AMT pos 161; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Investment advisory and management fees | $50,224,604 | Schedule H, line 2i(5); INVST_MGMT_FEES_AMT pos 107; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Administrative expenses excluding investment management | $5,856,016 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Held in master trusts | $29,007,154,545 | Schedule H, line 1c(11) col (b); INT_MASTER_TR_EOY_AMT pos 53; filing 20250625074519NAL0011196096001, received 2025-06-25 |
| Independent auditor | MITCHELL & TITUS, LLP | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250625074519NAL0011196096001, received 2025-06-25 |
Position = column in the DOL layout for form year 2024. Filing 20250625074519NAL0011196096001, received 2025-06-25.
| Provider | Relationship | Service codes | Direct compensation | Indirect |
|---|---|---|---|---|
| FIDELITY INVESTMENTS INSTITUTIONALrecordkeeper | RECORDKEEPER | 15 Recordkeeping and information management; 37 Participant loan processing; 38 Participant communication; 50 Direct payment from the plan; 52 Investment management fees paid indirectly by plan; 62 Float revenue; 64 Recordkeeping fees; 65 Account maintenance fees | $2,422,556 | no |
| VERIZON COMMUNICATIONS INC. | EMPLOYER | 14 Plan administrator; 27 Investment advisory (plan); 28 Investment management; 50 Direct payment from the plan | $846,268 | no |
| JP MORGAN INVEST. MANAGEMENT, INC. | NONE | 28 Investment management; 50 Direct payment from the plan | $700,000 | no |
| MORGAN STANLEY INVEST. MGMT. INC. | NONE | 28 Investment management; 50 Direct payment from the plan | $494,946 | no |
| AON CONSULTING, INC | NONE | 16 Consulting (general); 50 Direct payment from the plan | $463,872 | no |
| ARISTOTLE CAPITAL MANAGMENT, LLC | NONE | 28 Investment management; 50 Direct payment from the plan | $436,094 | no |
| GQG PARTNERS LLC | NONE | 28 Investment management; 50 Direct payment from the plan | $396,038 | no |
| HARRIS ASSOCIATES L.P. | NONE | 28 Investment management; 50 Direct payment from the plan | $383,780 | no |
| DUANE MORRIS | NONE | 29 Legal; 50 Direct payment from the plan | $142,462 | no |
| ABEL NOSER SOLUTIONS | NONE | 27 Investment advisory (plan); 50 Direct payment from the plan | $130,270 | no |
| THOMPSON HINE | NONE | 29 Legal; 50 Direct payment from the plan | $106,465 | no |
| BLOOMBERG FINANCE | NONE | 27 Investment advisory (plan); 50 Direct payment from the plan | $102,197 | no |
| ALTERNATIVESOFT AG | NONE | 27 Investment advisory (plan); 50 Direct payment from the plan | $80,342 | no |
| MITCHELL AND TITUS LLP | NONE | 10 Accounting (including auditing); 50 Direct payment from the plan | $64,508 | no |
| PROSKAUER | NONE | 29 Legal; 50 Direct payment from the plan | $63,023 | no |
| BROADRIDGE | NONE | 38 Participant communication; 50 Direct payment from the plan | $46,399 | no |
| BNY MELLON | NONE | 27 Investment advisory (plan); 50 Direct payment from the plan | $36,508 | no |
| DONNELLEY FINANCIAL LLC | NONE | 10 Accounting (including auditing); 16 Consulting (general); 49 Other services; 50 Direct payment from the plan | $34,444 | no |
| CEM BENCHMARKING | NONE | 38 Participant communication; 50 Direct payment from the plan | $34,000 | no |
| WOLFE RESEARCH | NONE | 49 Other services; 50 Direct payment from the plan | $19,000 | no |
| AYCO | NONE | 16 Consulting (general); 50 Direct payment from the plan | $17,184 | no |
| EVESTMENT ALLIANCE | NONE | 27 Investment advisory (plan); 50 Direct payment from the plan | $11,078 | no |
| KPMG | NONE | 10 Accounting (including auditing); 16 Consulting (general); 50 Direct payment from the plan | $10,873 | no |
| MERCER INVESTMENTS LLC | NONE | 49 Other services; 50 Direct payment from the plan | $9,840 | no |
| WOLTERS KLUWER | NONE | 29 Legal; 50 Direct payment from the plan | $5,156 | no |
Schedule C Part I line 2: name (a), service codes (b), relationship (c), direct compensation paid by the plan (d), indirect compensation received (e). Filing 20250625074519NAL0011196096001, received 2025-06-25.
VERIZON MASTER SAVINGS TRUST (EIN 232259884, PN 020): plan interest $29,007,154,545, 74.6% of the trust. The trust's own filing (20250922070418NAL0002030595001, received 2025-09-22) reports net assets $38,895,217,413, administrative expenses $69,828,801, recordkeeping fees $0, investment management fees $59,647,113 and 30 Schedule C providers.
| Provider (trust level) | Service codes | Paid by the trust | Allocated to this plan |
|---|---|---|---|
| FIDELITY INVESTMENTS INSTITUTIONALrecordkeeper | 28 37 51 52 64 65 | $9,845,551 | $7,342,584 |
| BOSTON PARTNERS GLOBAL INVESTORS | 28 51 52 55 | $5,234,311 | $3,903,628 |
| JP MORGAN | 27 28 51 | $4,980,125 | $3,714,062 |
| ALLIANCEBERNSTEIN L.P. | 27 51 52 68 | $4,283,642 | $3,194,641 |
| MORGAN STANLEY INVESTMENT MGMT | 28 51 52 68 | $3,775,523 | $2,815,698 |
| PACIFIC INVESTMENT MANAGEMENT CO | 28 51 52 99 | $2,813,225 | $2,098,038 |
| LOOMIS, SAYLES & COMPANY, L.P. | 28 51 52 68 | $2,747,006 | $2,048,654 |
| SANDS CAPITAL MANAGEMENT, LLC | 28 51 52 68 | $2,434,292 | $1,815,439 |
| WELLINGTON MANAGEMENT COMPANY LLP | 28 51 52 68 | $2,278,250 | $1,699,066 |
| JENNISON ASSOCIATES LLC | 28 51 52 56 68 | $2,011,393 | $1,500,050 |
| NEWTON INVESTMENT | 28 51 52 71 | $1,980,741 | $1,477,191 |
| BARROW HANLEY GLOBAL INVESTORS | 27 28 51 52 68 | $1,798,026 | $1,340,926 |
| ARISTOTLE CAPITAL MANAGEMENT, LLC | 28 51 52 68 71 | $1,717,269 | $1,280,700 |
| HARRIS ASSOCIATES L.P. | 28 51 52 68 | $1,544,067 | $1,151,529 |
| GQG PARTNERS LLC | 28 51 52 68 | $1,536,995 | $1,146,255 |
Schedule D Part I of the plan's filing; the trust's Schedule H and Schedule C. Allocation = the plan's interest divided by the trust's net assets.
| Figure | 2023 | 2024 | Change |
|---|---|---|---|
| Total assets | $27,825,640,157 | $29,376,133,902 | 5.6% |
| Participants with a balance | 125,451 | 118,299 | -5.7% |
| Administrative expenses | $56,641,057 | $56,080,620 | -1.0% |
| Recordkeeping fees per participant | $39.20 | $34.85 | -11.1% |
| Employer contributions | $477,467,200 | $462,054,878 | -3.2% |
Prior filing 20240625123152NAL0007310161001, received 2024-06-25; the plan years are contiguous.