Retiree
information

All the information you need on healthcare is available to you on BenefitsConnection (user ID and password required). BenefitsConnection allows you to review your coverage, make changes and enroll and review the Benefits Library (which contains Summary Plan Descriptions (SPDs) and other benefit materials).

It’s also important to keep your personal information up-to-date to ensure you receive Verizon communications and year-end tax information in a timely manner. Go to BenefitsConnection to review and/or change your address, e-mail and beneficiaries.

Anytime Enrollment can help you more effectively manage your retiree benefits and make choices that will offer the best value for you and your family.

With Anytime Enrollment, you can change your coverage any time during the year for any reason and any number of times. Your new coverage will be effective on the first day of the month following a 30-day waiting period. (Example: Election is made on April 15. New election coverage will be effective on June 1.)

We each have a role to play in preserving and improving our health and Verizon provides information, tools and resources you can use for better health. We make it easy for you to access your health and wellness information in one centralized location through WellConnect – a dynamic health and wellness portal that provides you with personalized information and powerful tools to help you live a healthier lifestyle.

Explore your personalized Be Well resources offered through WellConnect (User ID and password required):

• Preventive care
• Eating smart
• Weight management
• Flu prevention
• Tobacco cessation
• Anthem resources (for Anthem members only)
• Video library
• VZ health focus (Your health news)

You can review your current or historical pension payment information at Pension benefits payments.

• Pension check mailing schedule 2024 (PDF)
• Pension payment direct deposit schedule 2024 (PDF)

Two options to sign up for or change direct deposit:

1. Go to BenefitsConnection. Under "Pension" select “Pension Payment Summary.” Click "Update" to go to the pension payment institution & allocation screen. Follow the instructions to add information required for direct deposit.
2. Submit a direct deposit authorization form (PDF). If the Verizon Benefits Center receives your request by the 10^th day of the month, your next payment will be made by Direct Deposit to the account you designate as of the first of the following month.

Pension check inquiries: Please wait until the 7^th business day of the month to inquire about the status of a pension check and/or deposit advice. Before the 7^th business day, most inquiries can only be answered by providing you with the date the check was mailed. Additionally, the Verizon Benefits Center cannot stop payment or reissue pension checks before the 7^th business day of the month.

To process transactions and review account information, visit Fidelity NetBenefits. A user ID and password is required.

View the 2024 tax bulletin (PDF). All tax statements are mailed out no later than January 31 of the current year. If you have not received your tax statement by mid - February, you can print copies of your tax forms(s) at Principal benefits payments website.

If you had retiree life insurance coverage greater than $50,000 during 2023, a portion of the amount over $50,000 will be reported to the government as taxable income.

If you have a domestic partner on file who does not qualify to be a tax dependent, the value of the Verizon medical and/or dental coverage provided to your domestic partner (and to children of your domestic partner) during 2023 will be reported as taxable income on your 2023 Form W-2. These amounts are located in box 12 of your W-2.

If you became age 59½ during the previous year, you may have received two tax forms based on two distribution codes. A distribution code of 2 is for the period of time when you were less than 59½ and a distribution code of 7 is for the period of time after you turned 59½. Distribution codes are determined based on your age and type of payment you're receiving. For additional information visit the IRS website.

If you are enrolled in Medicare Part B coverage, monthly premiums are deducted from your Social Security check. In some cases, Verizon reimburses you for a portion of these premium costs.

If you are eligible, the Verizon Benefits Center will automatically enroll you for reimbursement once you become eligible for Medicare. Payments will be made on a quarterly basis in January, April, July and October either through direct deposit or by paper check -- each of which will cover the payment for the prior three months depending on when you become Medicare eligible. If you are not already having your payments directly deposited into your bank account, you must enroll for direct deposit to receive your payments electronically. If you choose not to enroll for direct deposit, a paper check will be mailed to your address on file.

Two options to sign up for or change direct deposit:

1. Go to BenefitsConnection. Under "Pension" select “Pension Payment Summary.” Click "Update" to go to the pension payment institution & allocation screen. Follow the instructions to add information required for direct deposit.
2. Submit a direct deposit authorization form (PDF). If the Verizon Benefits Center receives your request by the 10^th day of the month, your next payment will be made by Direct Deposit to the account you designate.