Verizon Employee
Offboarding Information

Introduction

Browse relevant information about your separation from Verizon Communications.

401(k) plan

Within 1-2 weeks of your separation from the company, Fidelity will mail a package to your address on file describing your rights under the Verizon Savings Plan.

If your vested account balance is less than $1,000, you will automatically receive a lump sum cash distribution as soon as practicable after you separate from service. You will have an opportunity to elect to roll over this lump sum distribution.

If your vested account balance is $1,000 or greater but not more than $5,000, your account will be automatically rolled over to an IRA with Fidelity unless you request to receive your benefit distribution in the form of a check payable to you or through a direct rollover to another IRA or eligible retirement plan.

If your vested account balance is greater than $5,000, there are several additional distribution options available to you. Below is a brief description of each of the distribution options available through the Plan. Additional information on these options will be included in the package that Fidelity will mail to you.

  1. Leave your account balance in the Verizon Savings Plan – you will continue to choose how you want your accounts invested (subject to 401(k) Plan limitations) and can request a distribution of your account balance at any time. Please note, however, in accordance with IRS requirements, you must begin receiving distributions from the 401(k) Plan no later than April 1st of the year following the year in which you reach age 72.
  2. Roll over your eligible account balance to an IRA or another employer’s eligible retirement plan – you will continue to defer taxes on any rollover amounts, as well as any future investment earnings.
  3. Request a lump sum distribution – your distribution will be paid to you in cash and you will owe income taxes on the taxable portion. You may also owe a 10% penalty tax on the taxable portion of the distribution if you receive it before you reach age 59 ½.
  4. Request installment payments – you can receive annual installments over a 2 – 20 year period provided the number of installments does not exceed your single life expectancy or the combined life expectancy of you and your beneficiary. Installments are paid in cash.


If you have any questions, please contact Fidelity at 1-888-457-9333. Representatives are available to assist you from 8:30 am – midnight on any day that the stock market is open.

Benefit information

Health and insurance benefits: For Benefits related inquiries, please contact the Verizon Benefits Center at 1-855-489-2367.

Transition benefits plan: Verizon is committed to providing you with the information, tools and resources to help you understand the financial impacts of important life events such as retiring. BenefitsConnection is the source of personalized information about your Verizon pension. Using BenefitsConnection, you can access information about your pension benefit, change your beneficiary, run pension benefit estimates, initiate your retirement and more.

Change of address

To update your address, please visit verizon.com/benefitsconnection or contact the Verizon Benefits Center at 1-855-489-2367. Keeping your address up to date will ensure that you receive future correspondence in a timely manner.

Continuing legal obligations

You have a continuing legal obligation to maintain the confidentiality of Verizon Proprietary Information after your separation from Verizon.

Educational assistance

If you are enrolled in the Tuition Assistance Program at the time of termination, you may be responsible for reimbursing the Company for any assistance/professional development benefits extended on your behalf. If your termination status requires repayment, you will be contacted directly with information on how much is owed and payment options.

Employee phone program

Employees leaving Verizon and who do not qualify for the retiree phone program discount  are not required to take action on their Employee Phone Program (EPP) account.  The discount will be removed automatically and the account converted to consumer through a process initiated by Human Resources (HR). All account transitions from employee to consumer are subject to current retail consumer pricing, contracts, device payment agreements and guidelines. Qualifying retirees will automatically convert to the eligible retiree discount.

The Employee Phone Program discounts are removed within 30 days after the end of the month in which you are off payroll.

If an employee is separated from Verizon and has an existing device payment agreement:

  • The account is converted to Personal End user (PE) with the existing loan balance.
  • The loan must continue to be paid or the account runs the risk of collection.
  • Employee requests to cancel the service, the outstanding loan balance must be paid (there is no ETF for device payment agreements).

For questions regarding your account, please contact Customer Service at 1-800-922-0204.

Employment verification services

To prove employment, follow the instructions below:

1. Give the verifier your Employer Code 10303

2. Give the verifier your Social Security Number

3. The verifier would contact THE WORK NUMBER at 1-800-367-5690 or navigate to www.theworknumber.com and follow the prompts to obtain an employment verification.

If the verifier has not used THE WORK NUMBER, they need to go to www.theworknumber.com to register. Verifiers may also contact The Work Number Client Service Center for additional assistance at 1-800-367-5690.

As a former employee, you may view your information at www.theworknumber.com. If this is your first time using THE WORK NUMBER, you will need to register by creating your employee unique credentials.

Payroll information

Payroll Information


For garnishments: Contact ADP, Inc. at 1-866-324-5191.


Payroll/paycheck/re-payment: When an employee separates from Verizon for any reason, final pay is processed promptly in accordance with applicable state law.


If you were enrolled in direct deposit at the time of separation, your final check will be issued via direct deposit. Your direct deposit remains active 60 days after leaving the company.

In the event the employee is overpaid, Verizon reserves the right to request repayment of the overpaid amount within the state statutory guidelines.


Please contact Global Payroll at globalpayroll@verizonwireless.com if you have any questions.


Payroll documents: The Work History Site provides former US-based employees with self-service options. Please review this job aid for assistance with logging in.


Self-service options available through the Work History Site:

  • View Historical Paychecks
  • Electronic Consent form - Opt in to receive an electronic copy of your W2/1095C forms
  • W2 - View Current and previous 4 years of W-2 and tax statements

Employee business expense and corporate cards

For questions about employee business expense and Corporate Cards, contact your former manager.

Unemployment

You may be eligible to receive an unemployment insurance instructions document based on your main work location.

Exit Survey

After your supervisor submits your separation, you will receive a system generated invitation to participate in our exit survey. This email will be sent to your work email address. Please work with your supervisor to set 15 minutes aside in a private location to take the survey prior to your last day on payroll. Participation in this survey is voluntary.