Verizon Pension Plan for Associates

Verizon Pension Plan for Associates

The plan traces to 1929 and operates as the primary retirement vehicle for Verizon Communications Inc. employees. It absorbed the Alltel Corporation Pension Plan and functions through the Verizon Master Pension Trust. Allocations include private equity commitments to Arlington Capital Partners, The Halifax Group, Calera Capital, Blackstone Capital Partners, and KKR Lending Partners. Real estate exposure covers mixed-use properties in the United States, Europe, and Asia. Infrastructure and natural resources portfolios target global physical assets, while hedge fund holdings employ market neutral, event driven, equity long/short, and global macro strategies. The plan also maintains positions in U.S. government securities and corporate debt instruments. Verizon Investment Management Corp executes day-to-day management. The structure includes direct ownership of the Verizon Basking Ridge Headquarters campus and a 100 percent stake in VEBA Partnership N LP. No additional offices are disclosed. The plan maintains relationships with Prudential Insurance Co. of America and RGA Reinsurance Co. for annuity settlements. The plan's architecture centers on its status as a single-sponsor defined benefit vehicle tied directly to Verizon Communications Inc., with investment decisions executed through a wholly owned subsidiary rather than an external advisor network.