2016 Best in Class 401(k) Plans | Winner
Verizon Communications, Inc.
| Location | Basking Ridge, NJ |
| Asset Size | $20 billion (Savings Plan for Management) |
| Number of Participants | 10,000 or more participants |
| Business | Telecommunications |
| Participation rate | 97% |
| Avg. deferral rate | 7.0% |
| No. of funds offered | 16 |
| Investment Review | Quarterly |
| True-up Match | No |
| Match Vesting Period | 3 years |
| Eligibility | Immediately |
| Default deferral rate | 3% |
| Default investment | Custom TDF |
| Auto escalation | Opt-in |
| Ret. Income offering | None |
| Fee equalization | Not Applicable |
| Match Rate | 100% of first 6% of salary |
| % receiving full match | >75% |
| Max Employer Contribution | 9% |
| Financial education: | |
| Saving/budgeting | x |
| Investing strategies | x |
| College saving | x |
| Credit/debt mgt | x |
| Tax/estate planning | x |
| Retiree health costs/savings options | x |
| Recordkeeper | Fidelity Investments |
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