Employers › Verizon Communications › plan 105
Recordkeeping fees per participant · Verizon Savings and Security Plan for West Region Hourly Employees · plan year 2024
$34.46
Higher than 30% of the 1,697 plans $250M to 1B that report it.
= $84,347 / 2,448
Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20250625074723NAL0011200560001, received 2025-06-25
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250625074723NAL0011200560001, received 2025-06-25
Percentiles compare this plan with the Schedule H plans $250M to 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
$98.81
Higher than 76% of the 2,324 plans $250M to 1B that report it.
= $241,890 / 2,448
derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250625074723NAL0011200560001, received 2025-06-25
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250625074723NAL0011200560001, received 2025-06-25
Administrative expenses per participant
$229.16
Higher than 92% of the 2,405 plans $250M to 1B that report it.
= $560,975 / 2,448
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250625074723NAL0011200560001, received 2025-06-25
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250625074723NAL0011200560001, received 2025-06-25
Administrative expenses as a share of assets
0.177%
Higher than 89% of the 2,407 plans $250M to 1B that report it.
= $560,975 / $316,433,826
Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250625074723NAL0011200560001, received 2025-06-25
assets_eoy: Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250625074723NAL0011200560001, received 2025-06-25
Employer contributions per participant
$728
Higher than 5% of the 2,457 plans $250M to 1B that report it.
= $1,782,536 / 2,448
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250625074723NAL0011200560001, received 2025-06-25
participants_with_balance: Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250625074723NAL0011200560001, received 2025-06-25
Employer share of total contributions
31.0%
Higher than 49% of the 2,459 plans $250M to 1B that report it.
= $1,782,536 / $5,752,048
Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250625074723NAL0011200560001, received 2025-06-25
total_contrib: Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250625074723NAL0011200560001, received 2025-06-25
99.0% 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 $562,307 ($458.86 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 20250625074723NAL0011200560001, received 2025-06-25
| Field | Value | Source |
|---|---|---|
| Plan sponsor | VERIZON COMMUNICATIONS INC. | Form 5500, Part II line 2a; SPONSOR_DFE_NAME pos 19; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Plan name | VERIZON SAVINGS AND SECURITY PLAN FOR WEST REGION HOURLY EMPLOYEES | Form 5500, line 1a; PLAN_NAME pos 16; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Sponsor EIN / plan number | 23-2259884 / 105 | Form 5500, line 2b; SPONS_DFE_EIN pos 44; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Plan type | single-employer | Form 5500, Part I line A; TYPE_PLAN_ENTITY_CD pos 4; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Sponsor location | BASKING RIDGE, NJ | Form 5500, line 2a; SPONS_DFE_MAIL_US_STATE pos 25; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Industry (business code) | 517000, Information | Form 5500, line 2d; BUSINESS_CODE pos 46; filing 20250625074723NAL0011200560001, 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 20250625074723NAL0011200560001, received 2025-06-25 |
| Filing received | 2025-06-25 | Form 5500, EFAST2 receipt date; DATE_RECEIVED pos 102; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Final filing | no | Form 5500, Part I line B; FINAL_FILING_IND pos 8; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Amended filing | no | Form 5500, Part I line B; AMENDED_IND pos 7; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Participants, beginning of year | 2,705 | Form 5500, line 5; TOT_PARTCP_BOY_CNT pos 71; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Active participants | 430 | Form 5500, line 6a(2); TOT_ACTIVE_PARTCP_CNT pos 72; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Participants, end of year | 2,479 | Form 5500, line 6f; TOT_ACT_RTD_SEP_BENEF_CNT pos 77; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Participants with an account balance | 2,448 | Form 5500, line 6g(2); PARTCP_ACCOUNT_BAL_CNT pos 78; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Total assets, beginning of year | $300,686,286 | Schedule H, Part I line 1f col (a); TOT_ASSETS_BOY_AMT pos 30; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Total assets, end of year | $316,433,826 | Schedule H, Part I line 1f col (b); TOT_ASSETS_EOY_AMT pos 61; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Net assets, end of year | $316,433,826 | Schedule H, line 1l col (b); NET_ASSETS_EOY_AMT pos 67; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Total income | $46,912,812 | Schedule H, Part II line 2d; TOT_INCOME_AMT pos 97; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Net income | $15,747,540 | Schedule H, line 2k; NET_INCOME_AMT pos 111; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Employer contributions | $1,782,536 | Schedule H, Part II line 2a(1)(A); EMPLR_CONTRIB_INCOME_AMT pos 68; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Participant contributions | $3,969,512 | Schedule H, line 2a(1)(B); PARTICIPANT_CONTRIB_AMT pos 69; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Total contributions | $5,752,048 | Schedule H, line 2a(3); TOT_CONTRIB_AMT pos 72; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Benefit payments | $30,530,360 | Schedule H, line 2e(4); TOT_DISTRIB_BNFT_AMT pos 101; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Total expenses (incl. benefit payments) | $31,165,272 | Schedule H, line 2j; TOT_EXPENSES_AMT pos 110; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Total administrative expenses | $560,975 | Schedule H, line 2i(12) total administrative expenses; TOT_ADMIN_EXPENSES_AMT pos 109; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Contract administrator fees | $5,859 | Schedule H, line 2i(2); CONTRACT_ADMIN_FEES_AMT pos 106; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Recordkeeping fees | $84,347 | Schedule H, line 2i(3); OTH_RECORDKEEPING_FEES_AMT pos 160; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| IQPA audit fees | $59,508 | Schedule H, line 2i(4); IQPA_AUDIT_FEES_AMT pos 161; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Investment advisory and management fees | $319,085 | Schedule H, line 2i(5); INVST_MGMT_FEES_AMT pos 107; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Administrative expenses excluding investment management | $241,890 | derived, admin_expenses (2i(12)) minus invst_mgmt_fees (2i(5)), floored at 0; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Held in master trusts | $313,209,821 | Schedule H, line 1c(11) col (b); INT_MASTER_TR_EOY_AMT pos 53; filing 20250625074723NAL0011200560001, received 2025-06-25 |
| Independent auditor | MITCHELL & TITUS, LLP | Schedule H, Part III line 3a; ACCOUNTANT_FIRM_NAME pos 116; filing 20250625074723NAL0011200560001, received 2025-06-25 |
Position = column in the DOL layout for form year 2024. Filing 20250625074723NAL0011200560001, 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 | $141,100 | no |
| MITCHELL AND TITUS LLP | NONE | 10 Accounting (including auditing); 50 Direct payment from the plan | $59,058 | no |
| DONNELLEY FINANCIAL LLC | NONE | 10 Accounting (including auditing); 16 Consulting (general); 49 Other services; 50 Direct payment from the plan | $12,436 | no |
| VERIZON COMMUNICATIONS INC. | EMPLOYER | 14 Plan administrator; 27 Investment advisory (plan); 28 Investment management; 50 Direct payment from the plan | $7,196 | no |
| BOSTON PARTNERS GLOBAL INVSTRS, INC | NONE | 28 Investment management; 50 Direct payment from the plan | $6,453 | no |
| AON CONSULTING | NONE | 16 Consulting (general); 50 Direct payment from the plan | $5,308 | 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 20250625074723NAL0011200560001, received 2025-06-25.
VERIZON MASTER SAVINGS TRUST (EIN 232259884, PN 020): plan interest $313,209,821, 0.8% 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 | $79,283 |
| BOSTON PARTNERS GLOBAL INVESTORS | 28 51 52 55 | $5,234,311 | $42,150 |
| JP MORGAN | 27 28 51 | $4,980,125 | $40,103 |
| ALLIANCEBERNSTEIN L.P. | 27 51 52 68 | $4,283,642 | $34,495 |
| MORGAN STANLEY INVESTMENT MGMT | 28 51 52 68 | $3,775,523 | $30,403 |
| PACIFIC INVESTMENT MANAGEMENT CO | 28 51 52 99 | $2,813,225 | $22,654 |
| LOOMIS, SAYLES & COMPANY, L.P. | 28 51 52 68 | $2,747,006 | $22,121 |
| SANDS CAPITAL MANAGEMENT, LLC | 28 51 52 68 | $2,434,292 | $19,603 |
| WELLINGTON MANAGEMENT COMPANY LLP | 28 51 52 68 | $2,278,250 | $18,346 |
| JENNISON ASSOCIATES LLC | 28 51 52 56 68 | $2,011,393 | $16,197 |
| NEWTON INVESTMENT | 28 51 52 71 | $1,980,741 | $15,950 |
| BARROW HANLEY GLOBAL INVESTORS | 27 28 51 52 68 | $1,798,026 | $14,479 |
| ARISTOTLE CAPITAL MANAGEMENT, LLC | 28 51 52 68 71 | $1,717,269 | $13,829 |
| HARRIS ASSOCIATES L.P. | 28 51 52 68 | $1,544,067 | $12,434 |
| GQG PARTNERS LLC | 28 51 52 68 | $1,536,995 | $12,377 |
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 | $300,686,286 | $316,433,826 | 5.2% |
| Participants with a balance | 2,671 | 2,448 | -8.3% |
| Administrative expenses | $626,884 | $560,975 | -10.5% |
| Recordkeeping fees per participant | $40.24 | $34.46 | -14.4% |
| Employer contributions | $1,829,917 | $1,782,536 | -2.6% |
Prior filing 20240625123311NAL0010412384001, received 2024-06-25; the plan years are contiguous.