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401k Plan overview

Plan NameVERIZON PENSION PLAN FOR ASSOCIATES
Plan identification number 016

VERIZON PENSION PLAN FOR ASSOCIATES Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • Code section 401(h) arrangement - Plan contains separate accounts under Code section 401(h) to provide employee health benefits.
  • 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 ASSOCIATES

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0162017-01-01KEVIN CAMMARATA KEVIN CAMMARATA2018-10-13
0162016-01-01KEVIN CAMMARATA KEVIN CAMMARATA2017-10-06

Plan Statistics for VERIZON PENSION PLAN FOR ASSOCIATES

401k plan membership statisitcs for VERIZON PENSION PLAN FOR ASSOCIATES

Measure Date Value
2017
Total participants, beginning-of-year2017-01-0178,206
Total number of active participants reported on line 7a of the Form 55002017-01-0117,009
Number of retired or separated participants receiving benefits2017-01-0143,179
Number of other retired or separated participants entitled to future benefits2017-01-019,211
Total of all active and inactive participants2017-01-0169,399
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-015,680
Total participants2017-01-0175,079
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-010
2016
Total participants, beginning-of-year2016-01-0185,832
Total number of active participants reported on line 7a of the Form 55002016-01-0118,180
Number of retired or separated participants receiving benefits2016-01-0144,934
Number of other retired or separated participants entitled to future benefits2016-01-019,343
Total of all active and inactive participants2016-01-0172,457
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-015,749
Total participants2016-01-0178,206
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-012

Financial Data on VERIZON PENSION PLAN FOR ASSOCIATES

Measure Date Value
2018
Total unrealized appreciation/depreciation of assets2018-12-31$0
Total transfer of assets to this plan2018-12-31$4,911,408,746
Total transfer of assets from this plan2018-12-31$1,473,072
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2018-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2018-12-31$0
Total income from all sources (including contributions)2018-12-31$-254,582,042
Total loss/gain on sale of assets2018-12-31$0
Total of all expenses incurred2018-12-31$1,027,112,220
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2018-12-31$1,015,114,848
Total contributions o plan (from employers,participants, others, non cash contrinutions)2018-12-31$0
Value of total assets at end of year2018-12-31$14,319,671,163
Value of total assets at beginning of year2018-12-31$10,691,429,751
Total of administrative expenses incurred including professional, contract, advisory and management fees2018-12-31$11,997,372
Total interest from all sources2018-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2018-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2018-12-31No
Administrative expenses professional fees incurred2018-12-31$4,823,430
Was this plan covered by a fidelity bond2018-12-31Yes
Value of fidelity bond cover2018-12-31$100,000,000
If this is an individual account plan, was there a blackout period2018-12-31No
Were there any nonexempt tranactions with any party-in-interest2018-12-31No
Administrative expenses (other) incurred2018-12-31$7,173,942
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2018-12-31No
Value of net income/loss2018-12-31$-1,281,694,262
Value of net assets at end of year (total assets less liabilities)2018-12-31$14,319,671,163
Value of net assets at beginning of year (total assets less liabilities)2018-12-31$10,691,429,751
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2018-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2018-12-31No
Were any leases to which the plan was party in default or uncollectible2018-12-31No
Value of interest in master investment trust accounts at end of year2018-12-31$13,887,206,009
Value of interest in master investment trust accounts at beginning of year2018-12-31$9,694,129,751
Value of interest bearing cash (including money market accounts and certificates of deposits) at end of year2018-12-31$432,465,154
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2018-12-31No
Was there a failure to transmit to the plan any participant contributions2018-12-31No
Has the plan failed to provide any benefit when due under the plan2018-12-31No
Employer contributions (assets) at beginning of year2018-12-31$997,300,000
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2018-12-31$1,015,114,848
Did the plan have assets held for investment2018-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2018-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2018-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2018-12-31Yes
Opinion of an independent qualified public accountant for this plan2018-12-31Disclaimer
Accountancy firm name2018-12-31MITCHELL & TITUS, LLP
Accountancy firm EIN2018-12-31132781641
2017
Total unrealized appreciation/depreciation of assets2017-12-31$0
Total transfer of assets from this plan2017-12-31$4,366,885
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2017-12-31$0
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2017-12-31$50,161,134
Total income from all sources (including contributions)2017-12-31$2,225,556,237
Total loss/gain on sale of assets2017-12-31$0
Total of all expenses incurred2017-12-31$837,242,395
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2017-12-31$824,152,541
Total contributions o plan (from employers,participants, others, non cash contrinutions)2017-12-31$997,300,000
Value of total assets at end of year2017-12-31$10,691,429,751
Value of total assets at beginning of year2017-12-31$9,357,643,928
Total of administrative expenses incurred including professional, contract, advisory and management fees2017-12-31$13,089,854
Total interest from all sources2017-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2017-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2017-12-31No
Administrative expenses professional fees incurred2017-12-31$5,218,948
Was this plan covered by a fidelity bond2017-12-31Yes
Value of fidelity bond cover2017-12-31$100,000,000
If this is an individual account plan, was there a blackout period2017-12-31No
Were there any nonexempt tranactions with any party-in-interest2017-12-31No
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at beginning of year2017-12-31$50,161,134
Administrative expenses (other) incurred2017-12-31$7,870,906
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2017-12-31No
Value of net income/loss2017-12-31$1,388,313,842
Value of net assets at end of year (total assets less liabilities)2017-12-31$10,691,429,751
Value of net assets at beginning of year (total assets less liabilities)2017-12-31$9,307,482,794
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2017-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2017-12-31No
Were any leases to which the plan was party in default or uncollectible2017-12-31No
Value of interest in master investment trust accounts at end of year2017-12-31$9,694,129,751
Value of interest in master investment trust accounts at beginning of year2017-12-31$7,272,091,928
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2017-12-31No
Was there a failure to transmit to the plan any participant contributions2017-12-31No
Has the plan failed to provide any benefit when due under the plan2017-12-31No
Contributions received in cash from employer2017-12-31$997,300,000
Employer contributions (assets) at end of year2017-12-31$997,300,000
Employer contributions (assets) at beginning of year2017-12-31$2,085,552,000
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2017-12-31$824,152,541
Did the plan have assets held for investment2017-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2017-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2017-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2017-12-31Yes
Opinion of an independent qualified public accountant for this plan2017-12-31Disclaimer
Accountancy firm name2017-12-31MITCHELL & TITUS, LLP
Accountancy firm EIN2017-12-31132781641
2016
Total unrealized appreciation/depreciation of assets2016-12-31$0
Total transfer of assets to this plan2016-12-31$1,112,343
Total transfer of assets from this plan2016-12-31$331,842,055
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-12-31$50,161,134
Total liabilities at beginning of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-12-31$0
Total income from all sources (including contributions)2016-12-31$2,605,370,003
Total loss/gain on sale of assets2016-12-31$0
Total of all expenses incurred2016-12-31$994,392,002
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2016-12-31$939,673,354
Total contributions o plan (from employers,participants, others, non cash contrinutions)2016-12-31$2,085,552,000
Value of total assets at end of year2016-12-31$9,357,643,928
Value of total assets at beginning of year2016-12-31$8,027,234,505
Total of administrative expenses incurred including professional, contract, advisory and management fees2016-12-31$54,718,648
Total interest from all sources2016-12-31$0
Total dividends received (eg from common stock, registered investment company shares)2016-12-31$0
Has a resolution to terminate the plan been adopted during the plan year or any prior plan year2016-12-31No
Administrative expenses professional fees incurred2016-12-31$4,440,307
Was this plan covered by a fidelity bond2016-12-31Yes
Value of fidelity bond cover2016-12-31$100,000,000
If this is an individual account plan, was there a blackout period2016-12-31No
Were there any nonexempt tranactions with any party-in-interest2016-12-31No
Value of other receiveables (less allowance for doubtful accounts) at beginning of year2016-12-31$19,327,446
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2016-12-31$50,161,134
Administrative expenses (other) incurred2016-12-31$50,278,341
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2016-12-31No
Value of net income/loss2016-12-31$1,610,978,001
Value of net assets at end of year (total assets less liabilities)2016-12-31$9,307,482,794
Value of net assets at beginning of year (total assets less liabilities)2016-12-31$8,027,234,505
Did the plan have a loss casued by fraud or dishonesty (regardless whether reimbursed by fidelity bond)2016-12-31No
Were any loans by the plan or fixed income obligations due to the plan in default2016-12-31No
Were any leases to which the plan was party in default or uncollectible2016-12-31No
Value of interest in master investment trust accounts at end of year2016-12-31$7,272,091,928
Value of interest in master investment trust accounts at beginning of year2016-12-31$7,792,987,059
Were any plan transactions or series of transactions in excess of 5% of the current value of the plan assets2016-12-31No
Was there a failure to transmit to the plan any participant contributions2016-12-31No
Has the plan failed to provide any benefit when due under the plan2016-12-31Yes
Contributions received in cash from employer2016-12-31$2,085,552,000
Employer contributions (assets) at end of year2016-12-31$2,085,552,000
Employer contributions (assets) at beginning of year2016-12-31$214,920,000
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2016-12-31$939,673,354
Did the plan have assets held for investment2016-12-31Yes
Did the plan hold any assets whose current value was neither redily determinable on an established market nor set by an independent third party appraiser2016-12-31No
Were all the plan assets eitehr distributed to particpants/beneficiaries, transferred to another plan or brought under the control of the PBGC2016-12-31No
Accountant perfomed limited scope audit pursuant to 29 CFR 2520.103-8 and/or 103-12(d)2016-12-31Yes
Opinion of an independent qualified public accountant for this plan2016-12-31Disclaimer
Accountancy firm name2016-12-31MITCHELL & TITUS, LLP
Accountancy firm EIN2016-12-31132781641

Form 5500 Responses

2017
2017-01-01Type of plan entitySingle employer plan
2017-01-01Submission has been amendedNo
2017-01-01This submission is the final filingNo
2017-01-01This return/report is a short plan year return/report (less than 12 months)No
2017-01-01Plan is a collectively bargained planYes
2017-01-01Plan funding arrangement – TrustYes
2017-01-01Plan benefit arrangement - TrustYes
2016
2016-01-01Type of plan entitySingle employer plan
2016-01-01Submission has been amendedNo
2016-01-01This submission is the final filingNo
2016-01-01This return/report is a short plan year return/report (less than 12 months)No
2016-01-01Plan is a collectively bargained planYes
2016-01-01Plan funding arrangement – TrustYes
2016-01-01Plan benefit arrangement - TrustYes

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