As expected Verizon announced their 4G LTE launch details today and we finally learned the pricing. There was speculation that Verizon might introduce data plans based on download speeds, but they went with more traditional tiered plans that match their current 3G data plans.

Verizon’s 4G LTE goes live on Sunday in 38 markets and 60 airports. At launch there will be two USB modems available that will each will cost $99, after a $50 rebate with a two-year contract. Users can choose from two plans of either $50 for 5 GB of data or $80 for 10 GB of data. Overages will run $10 for every GB of data that customers consume.

Download speeds being advertised are what was previously announced. Customers should expect download speeds between 5-12 Mbps and uploads between 2-5 Mbps. Verizon also said that network latency on 4G LTE is half of their existing 3G network.

No details were provided on any specific 4G LTE handsets, but Verizon reiterated they will launch in the first half of the year (maybe as soon as February). Expect more details on Verizon’s 4G handsets at CES in January.

If you want to see if 4G LTE will be available in your city, just hit up Verizon’s official site for more details.