How many participants are in VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES?

At the end of 2024, VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES reported 15,724 plan participants.

What are the investment options in VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES?

MyPlanIQ tracks the investment lineup for VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES on its investment options page: https://www.myplaniq.com/invest/planinvestments/verizon-savings-security-plan-for-midatlantic-associates/

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Q: What is VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES's employer match?

In 2024, VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES reported $51,478,712 in employer contributions. That is about 47.5% of reported employee contributions.

Q: When was VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES established?

VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES was established in 1984.

VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES

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Contribution & Savings

VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES Average Participant Retirement Account Value

In 2024, the average participant retirement account value for VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES is $219,404.00

VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES is $6,358.00. If you contribute an amount exceeding this, you have saved more than your colleagues. Congratulations! Keep up the good work. Otherwise, you might want to consider contributing more to ensure a better retirement future.
406,969.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,358.00 in VERIZON SAVINGS SECURITY PLAN FOR MID-ATLANTIC ASSOCIATES, assuming a 10%* annual return.

2023 & 2024 401(k) contribution limits by IRS

	Pretax and roth employee contributions	Employee and employer contributions combined	Catch-up contributions (in addition to the employee and employer combined limit, age 50 and over)
401(k) contribution limit for 2023	$22,500	$66,000	$7,500
401(k) contribution limit for 2024	$23,000	$69,000	$7,500

$1,440,056: this is the amount you will have saved 20 years later if you contribute the maximum of $22,500 annually for 20 years, assuming a 10%* annual return.

$4,224,165: for those who can maximize employee and employer annual $66,000 contributions for 20 years, assuming a 10%* annual return, you will be 3 times richer!

Use the 401(k) Savings Calculator to determine how much your contributions will accumulate over time.

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