https://www.cnbc.com/amp/2026/07/09/goldman-sachs-asset-management-deals-verizon-lockheed-martin.html
6 replies (most recent on top)
When Verizon took over the former Frontier pension plan, employees paid the price. Verizon uses a different lump‑sum calculation method, and the result is about a 6% reduction compared to what employees had under Frontier’s GATT rate. The same pattern will likely repeat with Goldman Sachs: higher fees, higher costs, and employees absorbing the impact, while nobody says a word.
This does not impact Fidelity. They will remain as the record-keeper and administrator of 401k accounts. The shift to Goldman Sachs is due to the retirement of Laurence Fulton from VIMCO (Verizon Investment Management Corp.), which managed all investment strategies internally. By moving that role outside of Verizon, Goldman Sachs is acting as an Outsourced Chief Investment Officer (OCIO).
https://www.thelayoff.com/t/1kx3v39q2
Keep an eye on the expense ratios in the new 401k funds
@a6 is this only pensions? I saw 401k mentioned. Didn’t know they were shopping that too.
@OP Interesting , but VZ has been getting rid of their pension liabilities for a little while now.
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