401(k) savings plan

You contribute. We’ll match up to 6%.

With the Verizon 401(k), you can get a company match of $1 for every $1 you contribute, up to 6% of eligible pay each payroll period.

Verizon will also make matching 401(k) contributions for your qualified student loan payments, up to a combined maximum (with regular matching contributions) of 6% of your eligible pay.

It’s easy to participate in our 401(k):

• Through payroll deductions, you contribute to your 401(k).
• You can start, stop or change your contributions anytime by logging in to your 401(k) account on Fidelity NetBenefits.
• If you’re a new V Teamer, you’ll be automatically enrolled to contribute 6% of your eligible pay on a before-tax basis. You have 45 days from your start date to decline enrollment or elect a different contribution.
• You can make rollover contributions of eligible distributions from your old employer’s plan.
• You design your own investment strategy using a broad range of options.

You can contribute up to 50% of your eligible pay each pay period on a before-tax, Roth and/or regular after-tax basis. You have the option to make separate contribution elections for your base pay and for your bonus or commission pay, if applicable.

If you are considered a highly compensated employee according to IRS limits, your maximum contribution will be lower.

If you will be age 50 or older by the end of the calendar year, you can make additional before-tax and/or Roth catch-up contributions of up to 70% of your eligible pay (subject to the IRS catch-up limit) if either of the following scenarios applies:

• You’re contributing at least 6% of your eligible pay as before-tax and/or Roth 401(k) contributions.
• You’ve reached the IRS limit on before-tax and/or Roth 401(k) contributions for the year.

Everything you contribute is yours: Your contributions are immediately vested, and your company match vests once you’ve completed three years of vesting service.

Contribution types

Before-tax contributions lower your taxable income each pay period. You’ll pay taxes on these contributions and investment earnings when you withdraw funds in retirement.

Roth contributions are deducted from your pay after taxes are withheld. You will not pay taxes on these contributions and investment earnings when you withdraw the funds in retirement, as long as you make your first Roth contribution at least five years before you withdraw funds, and you’re at least age 59½ when you do.

After-tax contributions are deducted from your pay after taxes are withheld. Investment earnings will be taxed when you withdraw funds from your account in retirement.

Over-50 catch-up contributions: If you’re age 50 or older by the end of the year, you can make additional before-tax and/or Roth contributions to your 401(k). Verizon does not match catch-up contributions.

New for 2025: Age 60–63 catch-up contributions: If you’re age 60, 61, 62 or 63, your catch-up contribution limit is higher.

The IRS sets limits on how much you can contribute to your 401(k) each year.

If you reach the annual before-tax and/or Roth contribution limit, your contributions will automatically switch to after-tax for the remainder of the year. You’ll continue to receive the company match on your after-tax contributions.

If you were contributing more than the maximum 6% company match, you can choose whether you want all of your before-tax and/or Roth contributions to switch to after-tax, or limit your after-tax contributions to 6%.