VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES
Plan Contact
- Address: ONE VERIZON WAY,,BASKING RIDGE,NJ
- Contact person: KEVIN CAMMARATA
- Phone: (908) 559-2140
Plan General Information
VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES Total Retirement Plan Assets
At the end of 2023, the total retirement plan assets of VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES is $3,199,999,641.00.This plan was established in 1984.
VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES Total Number of Retirement Plan Participants
At the end of 2023, the total number of retirement plan participants in VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES is 16509
VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES Average Participant Retirement Account Value
In 2023, the average participant retirement account value for VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES is $193,833.00
VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES Estimated Average Employee Contribution Amount
In 2023, the estimated average employee contribution amount per participant for VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES is $6,171.00.
VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES Estimated Average Employer Match
In 2023, the estimated average employer match for an employee in VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES is approximately $3,100.00
Investing in this additonal $3,100.00 for 20 years would give you extra $198,408.00, assuming a 10% annual return.
Investing in this additonal $3,100.00 for 20 years would give you extra $198,408.00, assuming a 10% annual return.
VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES Total Employer Contribution and Match Rate
In 2023, VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES allocates $51,180,180.00 to match its employees' contributions, providing an employer match rate of 47.55% of their contributions
VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES Total Retirement Plan Asset Growth Rate
In 2023, the total retirement plan asset growth rate of VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES is 10.20%.
VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES Estimated Aggregate Retirement Account Investment Gain/Loss
In 2023, the estimated aggregate retirement account investment gain/loss for VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES is 13.45%. This measures the effectiveness of the plan participants' investments in the year.
VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES Expense Ratio
In 2023, the investment and administrative expense ratio of VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES is 0.15%.
Enrollment Features
VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES has the following features:Automatic Enrollment: It provides automatic enrollment with elective contributions deducted from payroll.
Default Investments: It uses a default investment account for participants or employees who fail to direct assets in their account.
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