401(k) · DOL Form 5500 · 2024

Verizon Communications Inc. 401(k) Plan

Data updated 2026-08-06

$316M
Total assets: 466
Participants: 96th
Percentile by assets: $679,043
Avg per participant

Official DOL plan name: Verizon Savings and Security Plan for West Region Hourly Employees · Sponsored by Verizon Communications Inc. · New Jersey · Information & Media

$316M in assets, 466 participants

Verizon Communications Inc.'s Verizon Savings and Security Plan for West Region Hourly Employees reported $316M in total assets and 466 participants in its 2024 DOL Form 5500 filing, ranking in the 96th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

96th percentile by assets (of 116,472 plans)
#2,533 in Information & Media (2,712 peers)

Where Verizon Savings and Security Plan for West Region Hourly Employees sits by assets

Verizon Savings and Security Plan for West Region Hourly Employees sits in the top 5% of all filed plans by assets, $316M for 466 participants (~$679,043/participant), up 5.2% in 2024.

$316M
total plan assets (2024 EOY): 466
covered participants: 96th
percentile by assets (of 116,472 plans): $679,043
avg assets per participant

Verizon Savings and Security Plan for West Region Hourly Employees reported net income rose from $9M in the plan year 2023 filing to $16M in the plan year 2024 filing.
Verizon Savings and Security Plan for West Region Hourly Employees end-of-year assets rose from $301M in the plan year 2023 filing to $316M in the plan year 2024 filing.
Verizon Savings and Security Plan for West Region Hourly Employees reported participants fell from 484 in the plan year 2023 filing to 466 in the plan year 2024 filing.

See the national 2023→2024 release diff →

State

New Jersey

Industry

Information & Media

Verizon Savings and Security Plan for West Region Hourly Employees vs the 2024 asset distribution

By assets, Verizon Savings and Security Plan for West Region Hourly Employees outranks 96% of the 116,472 plans that filed a Form 5500 for the 2024 plan year, and holds roughly 3.2x the national average plan size of $100M (730 average participants).

Scale-class filing particulars (2024)

Total Assets (Beginning of Year)	$301M
Net Assets (End of Year)	$316M
Net Income	$16M
Employer EIN	232259884
Plan Effective Date	1993-09-01
Filing Status	FILING RECEIVED

Sponsor Plan History (Verizon Communications Inc.)

Total plan assets by year, all Verizon Communications Inc. plans on file

Year	Plans	Participants	Total Assets
2022	5	130,329	$44.2B
2023	5	127,663	$47.6B
2024	5	117,006	$44.6B

Nearby 401(k) Plans in New Jersey

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Verizon Savings and Security Plan for West Region Hourly Employees vs. nearby 401(k) plans in New Jersey, assets vs. participants

JPMorgan Chase 401(k) Savings Plan $52.9B · 185,532
Verizon Savings Plan for Management Employees $29.4B · 69,218
Johnson and Johnson Savings Plan $23.6B · 42,583
Ernst & Young Retirement Savings Plan $18.3B · 56,714
Merck US Savings Plan $15.0B · 27,956

Compare Verizon Savings and Security Plan for We… side-by-side with 3 peers →

Similar-Sized 401(k) Plans Nationally

401(k) plans in other states closest to Verizon Savings and Security Plan for West Region Hourly Employees by total assets, not by location.

Sorenson Communications, LLC. 401(k) Profit Sharing Plan (UT) $317M · 7,056
Crown Cork & Seal Company, Inc. 401(k) Retirement Savings Plan (PA) $317M · 2,022
Ionis Pharmaceuticals 401(k) Plan (CA) $316M · 897
Hexion Inc. Retirement Savings Plan (OH) $317M · 723

Frequently Asked Questions

How did Verizon Savings and Security Plan for West Region Hourly Employees assets move in 2024? ▼

Verizon Savings and Security Plan for West Region Hourly Employees grew at a solid clip - up 5.2% during 2024, from $301M to $316M. Reported net income was $16M.

How have Verizon Communications Inc. plan assets changed over time? ▼

Across 3 plan years on file (2022-2024), Verizon Communications Inc.'s sponsor-wide assets grew 0.8%, from $44.2B to $44.6B.

Where does Verizon Savings and Security Plan for West Region Hourly Employees rank by assets among Form 5500 filers? ▼

Verizon Savings and Security Plan for West Region Hourly Employees ranks in the 96th percentile by end-of-year assets among 116,472 plans that reported assets for plan year 2024 (in the top 5% of all filed plans by assets).

Which 401(k) plans are similar in size to Verizon Savings and Security Plan for West Region Hourly Employees? ▼

Among 401(k) plans in other states, the closest by assets is Sorenson Communications, LLC. 401(k) Profit Sharing Plan in UT ($317M, 7,056 participants).

Next read for Verizon Savings and Security Plan for We…

Scale reading

Ways to act on Verizon Savings and Security Plan for West Region Hourly Employees's numbers.

By total assets, Verizon Savings and Security Plan for West Region Hourly Employees ranks in the top 5% of all filed plans by assets. See the largest plans
Compare it side-by-side against 3 similar 401(k) plans in New Jersey. Compare plans
Verizon Communications Inc.'s sponsor-wide assets have grown 0.8% since 2022 across 3 plan years on file. More Information & Media plans

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2024.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 232259884.