CWA Local 9510's News Blog

Important Information: Effect of Frontier Transaction on Verizon Savings Plans

The Frontier transaction is expected to close July 1, 2010, and will result in Verizon share owners, including the savings plans, receiving shares of Frontier common stock.

If you have a balance in the Verizon Stock Fund in the Savings Plan, your account will receive units in a new Frontier Stock Fund. Since it is not intended to be a long-term investment option in the Savings Plan, the value of the Frontier Stock Fund will be automatically transferred to other investment options as the Fund is liquidated over time. You can also choose to transfer your remaining account value in the Frontier Stock Fund to other Savings Plan investment options at any time. There will be restrictions on certain Savings Plan transactions on July 2, 2010, in order to establish the Frontier Stock Fund and complete related actions.

This document contains important information about the Savings Plan, and should be kept with your Summary Plan Description. Your plan benefits will be determined by the terms of the official plan document. If there is a discrepancy between the SPD as supplemented by this document and the official plan document, the official plan document will govern. Copies of the plan document are available upon written request to the plan administrator at the address provided in the SPD.