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401k Plan overview

Plan NameVERIZON PENSION PLAN FOR NEW YORK & NEW ENGLAND ASSOCIATES
Plan identification number 012

VERIZON PENSION PLAN FOR NEW YORK & NEW ENGLAND ASSOCIATES Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily flat dollar (includes dollars per year of service)
  • Covered by PBGC - Plan is covered under the PBGC insurance program (see ERISA section 4021).
  • Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

401k Sponsoring company profile

VERIZON COMMUNICATIONS INC. has sponsored the creation of one or more 401k plans.

Company Name:VERIZON COMMUNICATIONS INC.
Employer identification number (EIN):232259884
NAIC Classification:517000

Additional information about VERIZON COMMUNICATIONS INC.

Jurisdiction of Incorporation: Virginia Secretary of State
Incorporation Date: 1988-04-26
Company Identification Number: F057483
Legal Registered Office Address: 4701 Cox Rd Ste 285

Glen Allen
United States of America (USA)
23060-6808

More information about VERIZON COMMUNICATIONS INC.

Form 5500 Filing Information

Submission information for form 5500 for 401k plan VERIZON PENSION PLAN FOR NEW YORK & NEW ENGLAND ASSOCIATES

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0122010-01-01DONNA CHIFFRILLER DONNA CHIFFRILLER2011-09-15
0122009-01-01DONNA CHIFFRILLER
0122007-01-01DONNA CHIFFRILLER
0122006-01-01DONNA CHIFFRILLER

Plan Statistics for VERIZON PENSION PLAN FOR NEW YORK & NEW ENGLAND ASSOCIATES

401k plan membership statisitcs for VERIZON PENSION PLAN FOR NEW YORK & NEW ENGLAND ASSOCIATES

Measure Date Value
2010
Total participants, beginning-of-year2010-01-0194,039
Total number of active participants reported on line 7a of the Form 55002010-01-010
Number of retired or separated participants receiving benefits2010-01-010
Number of other retired or separated participants entitled to future benefits2010-01-010
Total of all active and inactive participants2010-01-010
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2010-01-010
Total participants2010-01-010
Number of participants with account balances2010-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2010-01-01169
2009
Total participants, beginning-of-year2009-01-0195,403
Total number of active participants reported on line 7a of the Form 55002009-01-0128,651
Number of retired or separated participants receiving benefits2009-01-0139,321
Number of other retired or separated participants entitled to future benefits2009-01-0120,559
Total of all active and inactive participants2009-01-0188,531
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2009-01-015,508
Total participants2009-01-0194,039
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2009-01-01511
2007
Total participants, beginning-of-year2007-01-0194,824
Total number of active participants reported on line 7a of the Form 55002007-01-0132,980
Number of retired or separated participants receiving benefits2007-01-0139,521
Number of other retired or separated participants entitled to future benefits2007-01-0115,731
Total of all active and inactive participants2007-01-0188,232
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2007-01-015,047
Total participants2007-01-0193,279
Number of participants with account balances2007-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2007-01-010
2006
Total participants, beginning-of-year2006-01-0197,776
Total number of active participants reported on line 7a of the Form 55002006-01-0135,035
Number of retired or separated participants receiving benefits2006-01-0140,354
Number of other retired or separated participants entitled to future benefits2006-01-0114,378
Total of all active and inactive participants2006-01-0189,767
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2006-01-015,057
Total participants2006-01-0194,824
Number of participants with account balances2006-01-010
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2006-01-010

Financial Data on VERIZON PENSION PLAN FOR NEW YORK & NEW ENGLAND ASSOCIATES

Measure Date Value
2010
Total unrealized appreciation/depreciation of assets2010-11-30$0
Total transfer of assets from this plan2010-11-30$6,643,532,868
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-11-30$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2010-11-30$33,258,266
Total income from all sources (including contributions)2010-11-30$605,622,399
Total loss/gain on sale of assets2010-11-30$0
Total of all expenses incurred2010-11-30$1,749,633,700
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2010-11-30$1,736,987,032
Total contributions o plan (from employers,participants, others, non cash contrinutions)2010-11-30$0
Value of total assets at end of year2010-11-30$0
Value of total assets at beginning of year2010-11-30$7,820,802,435
Total of administrative expenses incurred including professional, contract, advisory and management fees2010-11-30$12,646,668
Total interest from all sources2010-11-30$0
Total dividends received (eg from common stock, registered investment company shares)2010-11-30$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2010-11-30No
Administrative expenses professional fees incurred2010-11-30$329,826
Was this plan covered by a fidelity bond2010-11-30Yes
Value of fidelity bond cover2010-11-30$100,000,000
If this is an individual account plan, was there a blackout period2010-11-30No
Were there any nonexempt tranactions with any party-in-interest2010-11-30No
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2010-11-30$33,258,266
Administrative expenses (other) incurred2010-11-30$4,878,530
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2010-11-30No
Value of net income/loss2010-11-30$-1,144,011,301
Value of net assets at end of year (total assets less liabilities)2010-11-30$0
Value of net assets at beginning of year (total assets less liabilities)2010-11-30$7,787,544,169
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2010-11-30No
Were any loans by the plan or fixed income obligations due to the plan in default2010-11-30No
Were any leases to which the plan was party in default or uncollectible2010-11-30No
Investment advisory and management fees2010-11-30$0
Value of interest in master investment trust accounts at end of year2010-11-30$0
Value of interest in master investment trust accounts at beginning of year2010-11-30$7,820,802,435
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2010-11-30No
Was there a failure to transmit to the plan any participant contributions2010-11-30No
Has the plan failed to provide any benefit when due under the plan2010-11-30No
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2010-11-30$1,736,987,032
Contract administrator fees2010-11-30$7,438,312
Was the provided the required notice or one of the exceptions to providing the black out period notice applied under 29 CFR 2520.101-32010-11-30No
Did the plan have assets held for investment2010-11-30No
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2010-11-30No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2010-11-30Yes
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2010-11-30Yes
Opinion of an independent qualified public accountant for this plan2010-11-30Disclaimer
Accountancy firm name2010-11-30MITCHELL AND TITUS LLP
Accountancy firm EIN2010-11-30132781641

Form 5500 Responses

2010
2010-01-01Type of plan entitySingle employer plan
2010-01-01Submission has been amendedNo
2010-01-01This submission is the final filingYes
2010-01-01This return/report is a short plan year return/report (less than 12 months)Yes
2010-01-01Plan is a collectively bargained planYes
2010-01-01Plan funding arrangement – TrustYes
2010-01-01Plan benefit arrangement - TrustYes
2009
2009-01-01Type of plan entitySingle employer plan
2009-01-01Submission has been amendedNo
2009-01-01This submission is the final filingNo
2009-01-01This return/report is a short plan year return/report (less than 12 months)No
2009-01-01Plan is a collectively bargained planYes
2009-01-01Plan funding arrangement – TrustYes
2009-01-01Plan benefit arrangement - TrustYes
2007
2007-01-01Type of plan entitySingle employer plan
2007-01-01Submission has been amendedYes
2007-01-01This submission is the final filingNo
2007-01-01This return/report is a short plan year return/report (less than 12 months)No
2007-01-01Plan is a collectively bargained planYes
2007-01-01Plan funding arrangement – TrustYes
2007-01-01Plan benefit arrangement - TrustYes
2006
2006-01-01Type of plan entitySingle employer plan
2006-01-01Submission has been amendedYes
2006-01-01This submission is the final filingNo
2006-01-01This return/report is a short plan year return/report (less than 12 months)No
2006-01-01Plan is a collectively bargained planYes
2006-01-01Plan funding arrangement – TrustYes
2006-01-01Plan benefit arrangement - TrustYes

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