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GTE SOUTHWEST INC. PLAN FOR HOURLY-PAID EMPLOYEES' PENSIONS 401k Plan overview

Plan NameGTE SOUTHWEST INC. PLAN FOR HOURLY-PAID EMPLOYEES' PENSIONS
Plan identification number 018

GTE SOUTHWEST INC. PLAN FOR HOURLY-PAID EMPLOYEES' PENSIONS Benefits

401k Plan TypeDefined Benefit Pension
Plan Features/Benefits
  • Benefits are primarily pay related
  • 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

Form 5500 Filing Information

Submission information for form 5500 for 401k plan GTE SOUTHWEST INC. PLAN FOR HOURLY-PAID EMPLOYEES' PENSIONS

Plan id# Filing Submission Date Name of Administrator Date Administrator SignedName of Company SponsorDate Sponsor Signed
0182017-01-01KEVIN CAMMARATA KEVIN CAMMARATA2018-10-13
0182016-01-01KEVIN CAMMARATA KEVIN CAMMARATA2017-10-06

Plan Statistics for GTE SOUTHWEST INC. PLAN FOR HOURLY-PAID EMPLOYEES' PENSIONS

401k plan membership statisitcs for GTE SOUTHWEST INC. PLAN FOR HOURLY-PAID EMPLOYEES' PENSIONS

Measure Date Value
2017
Total participants, beginning-of-year2017-01-0166,502
Total number of active participants reported on line 7a of the Form 55002017-01-0115,298
Number of retired or separated participants receiving benefits2017-01-0137,303
Number of other retired or separated participants entitled to future benefits2017-01-017,678
Total of all active and inactive participants2017-01-0160,279
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2017-01-013,905
Total participants2017-01-0164,184
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2017-01-012
2016
Total participants, beginning-of-year2016-01-014,256
Total number of active participants reported on line 7a of the Form 55002016-01-0116,214
Number of retired or separated participants receiving benefits2016-01-0138,615
Number of other retired or separated participants entitled to future benefits2016-01-017,687
Total of all active and inactive participants2016-01-0162,516
Number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits2016-01-013,986
Total participants2016-01-0166,502
Participants that terminated employment during the plan year with accrued benefits that were less than 100% vested2016-01-010

Financial Data on GTE SOUTHWEST INC. PLAN FOR HOURLY-PAID EMPLOYEES' PENSIONS

Measure Date Value
2018
Total unrealized appreciation/depreciation of assets2018-12-31$0
Total transfer of assets to this plan2018-12-31$1,421,262
Total transfer of assets from this plan2018-12-31$4,745,739,346
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$0
Total income from all sources (including contributions)2018-12-31$-126,704,521
Total loss/gain on sale of assets2018-12-31$0
Total of all expenses incurred2018-12-31$465,658,759
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2018-12-31$455,578,418
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$0
Value of total assets at beginning of year2018-12-31$5,336,681,364
Total of administrative expenses incurred including professional, contract, advisory and management fees2018-12-31$10,080,341
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$4,205,007
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$5,875,334
Did the receive any noncash contributions whose value was neither redily determinable on an established market nor set by an independent third party appraiser2018-12-31No
Value of net income/loss2018-12-31$-592,363,280
Value of net assets at end of year (total assets less liabilities)2018-12-31$0
Value of net assets at beginning of year (total assets less liabilities)2018-12-31$5,336,681,364
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$0
Value of interest in master investment trust accounts at beginning of year2018-12-31$4,736,681,364
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 end of year2018-12-31$0
Employer contributions (assets) at beginning of year2018-12-31$600,000,000
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2018-12-31$455,578,418
Did the plan have assets held for investment2018-12-31No
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 PBGC2018-12-31Yes
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$1,023,196
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$36,929,058
Total income from all sources (including contributions)2017-12-31$1,210,238,078
Total loss/gain on sale of assets2017-12-31$0
Total of all expenses incurred2017-12-31$452,590,482
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2017-12-31$441,619,650
Total contributions o plan (from employers,participants, others, non cash contrinutions)2017-12-31$600,000,000
Value of total assets at end of year2017-12-31$5,336,681,364
Value of total assets at beginning of year2017-12-31$4,616,986,022
Total of administrative expenses incurred including professional, contract, advisory and management fees2017-12-31$10,970,832
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$4,326,835
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$36,929,058
Administrative expenses (other) incurred2017-12-31$6,643,997
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$757,647,596
Value of net assets at end of year (total assets less liabilities)2017-12-31$5,336,681,364
Value of net assets at beginning of year (total assets less liabilities)2017-12-31$4,580,056,964
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$4,736,681,364
Value of interest in master investment trust accounts at beginning of year2017-12-31$3,932,476,022
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$600,000,000
Employer contributions (assets) at end of year2017-12-31$600,000,000
Employer contributions (assets) at beginning of year2017-12-31$684,510,000
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2017-12-31$441,619,650
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$3,495,501,503
Total transfer of assets from this plan2016-12-31$274,687,498
Total liabilities at end of year (benefit claims payable, operating payabales, acquisition indebtedness and other liabilities)2016-12-31$36,929,058
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$723,316,759
Total loss/gain on sale of assets2016-12-31$0
Total of all expenses incurred2016-12-31$34,850,418
Benefit payments and payments to participlants,beneficiaries,insurance carriers and others2016-12-31$34,305,459
Total contributions o plan (from employers,participants, others, non cash contrinutions)2016-12-31$684,510,000
Value of total assets at end of year2016-12-31$4,616,986,022
Value of total assets at beginning of year2016-12-31$670,776,618
Total of administrative expenses incurred including professional, contract, advisory and management fees2016-12-31$544,959
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$196,945
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
Other liabilities (not benefit claims, operating payabales oe acquisition indebtedness) at end of year2016-12-31$36,929,058
Administrative expenses (other) incurred2016-12-31$348,014
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$688,466,341
Value of net assets at end of year (total assets less liabilities)2016-12-31$4,580,056,964
Value of net assets at beginning of year (total assets less liabilities)2016-12-31$670,776,618
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$3,932,476,022
Value of interest in master investment trust accounts at beginning of year2016-12-31$670,776,618
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 plan2016-12-31No
Contributions received in cash from employer2016-12-31$684,510,000
Employer contributions (assets) at end of year2016-12-31$684,510,000
Benefit payments and payments to provide benefits directly to participlants or beneficiaries including direct rollovers2016-12-31$34,305,459
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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