-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, KZeLXaupa/JQ0f5tbp/sfPqSgGfRTyzOeeNIn1tRQiGWPSBG2dlo3Wf7hNNWBOzO HE5UFjloe/tjjkh2QkwIew== 0000950132-99-000608.txt : 19990621 0000950132-99-000608.hdr.sgml : 19990621 ACCESSION NUMBER: 0000950132-99-000608 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19981231 FILED AS OF DATE: 19990618 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRONTIER CORP /NY/ CENTRAL INDEX KEY: 0000084567 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 160613330 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: SEC FILE NUMBER: 001-04166 FILM NUMBER: 99648482 BUSINESS ADDRESS: STREET 1: ROCHESTER TEL CENTER STREET 2: 180 S CLINTON AVE CITY: ROCHESTER STATE: NY ZIP: 14646-0995 BUSINESS PHONE: 7167771000 FORMER COMPANY: FORMER CONFORMED NAME: ROCHESTER TELEPHONE CORP DATE OF NAME CHANGE: 19920703 11-K 1 ANNUAL REPORT PURSUANT TO SECTION 15(D) SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 11-K ANNUAL REPORT Pursuant to Section 15(d) of The Securities Exchange Act of 1934 For the Years Ended December 31, 1998 and 1997 Commission File Number 1-4166 FRONTIER CORPORATION EMPLOYEES' RETIREMENT SAVINGS PLAN (Full name of plan) FRONTIER CORPORATION (Name of issuer of securities held pursuant to the plan) 180 South Clinton Avenue Rochester, New York 14646-0700 (Address of principal executive offices) REQUIRED INFORMATION Index to Financial Statements and Schedules Page 1 Report of Independent Accountants Page 2 Statements of Net Assets Available for Benefits, with Fund Information at December 31, 1998 and 1997 Pages 3 - 4 Statement of Changes in Net Assets Available for Benefits, with Fund Information for the Year Ended December 31, 1998 Page 5 Notes to Financial Statements Pages 6 - 9 Schedule of Assets Held for Investment Purposes Schedule I Schedule of Loans or Fixed Income Obligations Schedule II Schedule of Reportable Transactions Schedule III
The following exhibit is filed as part of this Report. Consent of Independent Accountants Frontier Corporation Employees' Retirement Savings Plan Financial Statements December 31, 1998 and 1997 Frontier Corporation Employees' Retirement Savings Plan Index to Financial Statements Page 1 - ------------------------------------------------------------------------------ Report of Independent Accountants Page 2 Statements of Net Assets Available for Benefits, with Fund Information at December 31, 1998 and 1997 Pages 3 - 4 Statement of Changes in Net Assets Available for Benefits, with Fund Information for the Year Ended December 31, 1998 Page 5 Notes to Financial Statements Pages 6 - 9 Line 27a - Schedule of Assets Held for Investment Purposes Schedule I Line 27b - Schedule of Loans or Fixed Income Obligations Schedule II Line 27d - Schedule of Reportable Transactions Schedule III * * * * * * * * Other schedules required by Section 2520 103-10 of the Department of Labor Rules and Regulations for Reporting and Disclosure under ERISA have been omitted because they are not applicabble. Page 2 Report of Independent Accountants February 26, 1999 To the Participants and Administrator of the Frontier Corporation Employees' Retirement Savings Plan In our opinion, the accompanying statements of net assets available for benefits, with fund information, and the related statement of changes in net assets available for benefits, with fund information present fairly, in all material respects, the net assets available for benefits of the Frontier Corporation Employees' Retirement Savings Plan at December 31, 1998 and 1997, and the changes in net assets available for benefits for the year ended December 31, 1998, in conformity with generally accepted accounting principles. These financial statements are the responsibility of the Plan's management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with generally accepted auditing standards which require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for the opinion expressed above. Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The additional information included in Schedules I, II and III is presented for purposes of additional analysis and is not a required part of the basic financial statements but is additional information required by the Employee Retirement Income Security Act of 1974 ("ERISA"). The fund information in the statements of net assets available for benefits, with fund information, and the statement of changes in net assets available for benefits, with fund information is presented for purposes of additional analysis rather than to present the net assets available for benefits and changes in net assets available for benefits of each fund. Schedules I, II and III and the fund information have been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. /s/ PricewaterhouseCoopers LLP Frontier Corporation Employees' Retirement Savings Plan Statement of Net Assets Available for Benefits, with Fund Information Page 3 - --------------------------------------------------------------------------------
Fund Information at December 31, 1998 -------------------------------------------------------------------------------- Participant Directed -------------------------------------------------------------------------------- Fund A Fund B Fund C Fund D Fund E Assets Investments, at fair value: Registered investment companies - Putnam Income Fund $ 12,899,159 Putnam Global Growth Fund $ 23,481,464 Putnam Voyager Fund $ 52,783,761 Putnam Fund for Growth and Income Putnam Asset Allocation Fund Balanced Portfolio Common trust - Putnam S & P 500 Index Fund $ 37,889,923 Stable Value Fund $ 39,410,558 Frontier Corporation Common Stock Participant loans ------------- ------------ ------------- -------------- ------------- Total investments 12,899,159 23,481,464 52,783,761 39,410,558 37,889,923 ------------- ------------ ------------- -------------- ------------- Receivables: Participants' contributions Employer's contributions Total receivables Net assets available for benefits $ 12,899,159 $ 23,481,464 $ 52,783,761 $ 39,410,558 $ 37,889,923 ============= ============ ============= ============== ============= Fund Information at December 31, 1998 ------------------------------------------------------------------------------------------- Participant Directed ------------------------------------------------------------------------------------------- Participant Fund F Fund G Fund H Loans Other Total Assets Investments, at fair value: Registered investment companies - Putnam Income Fund $ 12,899,159 Putnam Global Growth Fund 23,481,464 Putnam Voyager Fund 52,783,761 Putnam Fund for Growth and Income $ 3,106,035 3,106,035 Putnam Asset Allocation Fund Balanced Portfolio $1,179,075 1,179,075 Common trust - Putnam S & P 500 Index Fund 37,889,923 Stable Value Fund 39,410,558 Frontier Corporation Common Stock $ 79,185,985 79,185,985 Participant loans $ 7,314,405 7,314,405 ------------- ------------- ---------- ------------- --------------- Total investments 79,185,985 3,106,035 1,179,075 7,314,405 257,250,365 ------------- ------------- ---------- ------------- --------------- Receivables: Participants' contributions $ 844,359 844,359 Employer's contributions 1,441,579 1,441,579 -------------- --------------- Total receivables 2,285,938 2,285,938 -------------- --------------- Net assets available for benefits $ 79,185,985 $ 3,106,035 $1,179,075 $ 7,314,405 $ 2,285,938 $ 259,536,303 ============= ============= ========== ============= ============== ===============
The accompanying notes are an integral part of these financial statements. Frontier Corporation Employees' Retirement Savings Plan Statement of Net Assets Available for Benefits, with Fund Information Page 4 - --------------------------------------------------------------------------------
Fund Information at December 31, 1997 ------------------------------------------------------------------------------------- Participant Directed ------------------------------------------------------------------------------------- Fund A Fund B Fund C Fund D Fund E Fund F Assets Investments, at fair value: Registered investment companies - Putnam Income Fund $ 12,539,046 Putnam Global Growth Fund $18,163,092 Putnam Voyager Fund $42,749,688 Putnam Fund for Growth and Income Putnam Asset Allocation Fund Balanced Portfolio Common trust - Putnam S & P 500 Index Fund $28,049,444 Stable Value Fund $36,395,304 Frontier Corporation Common Stock $ 56,678,052 Participant loans ------------ ----------- ----------- ----------- ----------- ------------ Total investments 12,539,046 18,163,092 42,749,688 36,395,304 28,049,444 56,678,052 ------------ ----------- ----------- ----------- ----------- ------------ Receivables: Participants' contributions Employer's contributions Total receivables Net assets available for benefits $ 12,539,046 $18,163,092 $42,749,688 $36,395,304 $28,049,444 $ 56,678,052 ============ =========== =========== =========== =========== ============ Fund Information at December 31, 1997 --------------------------------------------------------------------- Participant Directed --------------------------------------------------------------------- Participant Fund G Fund H Loans Other Total Assets Investments, at fair value: Registered investment companies - Putnam Income Fund $ 12,539,046 Putnam Global Growth Fund 18,163,092 Putnam Voyager Fund 42,749,688 Putnam Fund for Growth and Income $ 1,059,892 1,059,892 Putnam Asset Allocation Fund Balanced Portfolio $460,457 460,457 Common trust - Putnam S & P 500 Index Fund 28,049,444 Stable Value Fund 36,395,304 Frontier Corporation Common Stock 56,678,052 Participant loans $ 6,712,102 6,712,102 ----------- -------------- Total investments 1,059,892 460,457 6,712,102 202,807,077 ------------ -------- ----------- -------------- Receivables: Participants' contributions $1,025,512 1,025,512 Employer's contributions 258,126 258,126 ---------- -------------- Total receivables 1,283,638 1,283,638 ---------- -------------- Net assets available for benefits $ 1,059,892 $460,457 $ 6,712,102 $1,283,638 $ 204,090,715 ============ ======== =========== ========== ==============
The acompanying notes are an integral part of these financial statements. Frontier Corporation Employee's Retirement Savings Plan Statement of Changes in Net Assets Available for Benefits, with Fund Information Page 5 - --------------------------------------------------------------------------------
Fund Information for the Year Ended December 31, 1998 ------------------------------------------------------------------------------------- Participant Directed ------------------------------------------------------------------------------------- Fund A Fund B Fund C Fund D Fund E Fund F Additions Additions to net assets attributed to: Investment income - Interest and dividends $ 802,393 $ 683,623 $ 3,591,356 $ 2,309,982 $ 2,107,975 Realized gain (loss), net 41,813 251,827 1,993,975 $ 2,171,933 3,967,585 Net appreciation (depreciation) in fair value of investments (384,129) 4,318,215 4,782,572 5,971,285 20,007,590 Participant loan interest income Other income 2 772 2,807 37 1,687 44 Contributions - Participants' contributions 1,043,173 2,204,645 5,263,780 1,325,792 3,247,245 3,101,147 Employer's contributions 6,713,805 ----------- ----------- ----------- ----------- ----------- ----------- Total additions 1,503,252 7,459,082 15,634,490 3,635,811 11,392,150 35,898,146 ----------- ----------- ----------- ----------- ----------- ----------- Deductions Deductions from net assets attributed to: Benefits paid to participants 1,143,635 1,870,495 4,663,449 5,602,281 2,795,902 9,096,297 Other expense 1,625 2,947 6,838 3,639 3,708 5,750 ----------- ----------- ----------- ----------- ----------- ----------- Total deductions 1,145,260 1,873,442 4,670,287 5,605,920 2,799,610 9,102,047 ----------- ----------- ----------- ----------- ----------- ----------- Net increase (decrease) prior to fund transfers 357,992 5,585,640 10,964,203 (1,970,109) 8,592,540 26,796,099 Interfund transfers, net (9,010) (450,366) (1,707,199) 4,492,088 1,166,795 (4,287,082) Transfers from (to) other plans 11,131 183,098 777,069 493,275 81,144 (1,084) ----------- ----------- ----------- ----------- ----------- ----------- Net increase 360,113 5,318,372 10,034,073 3,015,254 9,840,479 22,507,933 Net assets available for benefits: Beginning of year 12,539,046 18,163,092 42,749,688 36,395,304 28,049,444 56,678,052 ----------- ----------- ----------- ----------- ----------- ----------- End of year $12,899,159 $23,481,464 $52,783,761 $39,410,558 $37,889,923 $79,185,985 =========== =========== =========== =========== =========== =========== Fund Information for the Year Ended December 31, 1998 ------------------------------------------------------------------- Participant Directed ------------------------------------------------------------------- Participant Fund G Fund H Loans Other Total Additions Additions to net assets attributed to: Investment income - Interest and dividends $ 265,614 $ 34,130 $ 9,795,073 Realized gain (loss), net (14,838) (15,713) 8,396,582 Net appreciation (depreciation) in fair value of investments 37,233 52,179 34,784,945 Participant loan interest income $ 444,792 444,792 Other income 227 116 5,692 Contributions - Participants' contributions 718,047 193,882 $ 844,359 17,942,070 Employer's contributions 1,441,579 8,155,384 ---------- ---------- ---------- ---------- ------------ Total additions 1,006,283 264,594 444,792 2,285,938 79,524,538 ---------- ---------- ---------- ---------- ------------ Deductions Deductions from net assets attributed to: Benefits paid to participants 189,425 30,886 552,716 25,945,086 Other expense 131 39 24,677 ---------- ---------- ---------- ------------ Total deductions 189,556 30,925 552,716 25,969,763 ---------- ---------- ---------- ------------ Net increase (decrease) prior to fund transfers 816,727 233,669 (107,924) 2,285,938 53,554,775 Interfund transfers, net 1,001,872 293,217 783,323 (1,283,638) - Transfers from (to) other plans 227,544 191,732 (73,096) 1,890,813 ---------- ---------- ---------- ---------- ------------ Net increase 2,046,143 718,618 602,303 1,002,300 55,445,588 Net assets available for benefits: Beginning of year 1,059,892 460,457 6,712,102 1,283,638 204,090,715 ---------- ---------- ---------- ---------- ------------ End of year $3,106,035 $1,179,075 $7,314,405 $2,285,938 $259,536,303 ========== ========== ========== ========== ============
Frontier Corporation Employees' Retirement Savings Plan Notes to Financial Statements Years Ended December 31, 1998 and 1997 Page 6 - ------------------------------------------------------------------------------- 1. Description of the Plan The Frontier Corporation Employees' Retirement Savings Plan (the "Plan") is a defined contribution plan established by the Board of Directors of Frontier Corporation (the "Company") effective March 1, 1994. The Plan is subject to the applicable provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"). The Plan provides participants the option of having their basic and supplemental contributions to the Plan made on a salary reduction basis and on a deferred tax basis. The principal provisions of the Plan are described below and are provided for general information purposes only. Participants should refer to the Plan document for a more complete description of the Plan's provisions. During 1998, the Global Center, Inc. 401(k) Plan was merged into this Plan. The transfer of the Global Center assets, $1,276,409, into the Plan was completed in July 1998 and is reflected in the transfer from other plans on the Statement of Changes in Net Assets with Fund Information. During Plan year end December 31, 1997, the RG Data Inc. 401(k) Retirement Plan was merged into the Frontier Corporation Employees' Retirement Savings Plan. Net assets of $512,997 were transferred from this plan during Plan year end December 31, 1997. During Plan year end December 31, 1997, the Plan document was amended to allow the Company's Employee Benefit Committee to transfer participant accounts from plans the participants are no longer eligible to participate in, to a substantially similar 401(k) plan sponsored by Frontier Corporation, or any corporation/business entity in which Frontier Corporation has a 50% or more ownership or profits interest. The transfers resulting from this amendment are reflected in the statement of changes in net assets available for benefits, with fund information as transfers from (to) other plans. Participation All non-bargaining employees, except for temporary, summer and leased employees, are eligible to participate in the Plan upon the first of the month after 30 days of employment. Administration The Plan is administered by the Company's Employee Benefit Committee whose members are appointed by the Company's Board of Directors. The Trustee of the Plan is Putnam Fiduciary Trust Company. Funding Policy Upon enrollment in the Plan, a participant may direct contributions into any of eight investment options. Fund A - Putnam Income Fund - Funds are primarily invested in Corporate bonds and U.S. government and agency obligations. Fund B - Putnam Global Growth Fund - Funds are primarily invested in foreign and domestic common stocks. Fund C - Putnam Voyager Fund - Funds are invested in emerging growth companies and opportunity stocks. Fund D - Stable Value Fund - Funds are invested in a diversified portfolio of high-quality stable value investments offering price stability and liquidity. Page 7 Fund E - Putnam S & P 500 Index Fund - Funds are primarily invested in stocks that comprise the S& P 500 Index. Fund F - Frontier Corporation Common Stock - Funds are invested in common stock of Frontier Corporation. Fund G - Putnam Fund for Growth and Income - Funds are primarily invested in common stocks. Fund H - Putnam Asset Allocation Fund Balanced Portfolio - Funds are invested in stocks, bonds and money market instruments. The shares of stock in Fund F are qualified employer securities as defined by ERISA. Each individual's investment in these funds is recorded in his or her account on a per share basis. All other funds are tracked on a dollar value basis with each fund's activity allocated to participants on a pro rata basis. Therefore the plan does not record activity on a unit value basis. The Plan provides that each participant may voluntarily make contributions through a salary reduction agreement for whatever whole percentage a participant chooses, up to a maximum of 16%, subject to maximum contributions imposed by the Internal Revenue Code under Section 401(k). Individual accounts which record the participants' contributions, the earnings on all contributions and the amount of the participant's interest in each fund are maintained for each participant. The participants' contributions during a month are allocated directly to their individual account when contributions are received by the Trustee. Participants have the option to invest their contributions in any of the funds and may change their allocation between funds at any time. Employer matching contributions equal 100% of participant contributions, up to the first 3% of compensation. In addition, each payroll period, the Company contributes .5% of the payroll period compensation for each of its employees who is a participant in the Plan. During 1998, the Plan was amended to include a profit sharing contribution based on Company performance. In 1998, an additional .5% of employee compensation was contributed under the profit sharing terms. All employer contributions will be invested initially in Fund F. All employer contributions invested in this Fund must remain for five years, while an active participant, after which time the participant may elect to transfer the amounts to any of the other funds or retain the amounts in this Fund. If the participant terminates service with the Company, he or she may elect to transfer the amounts in Fund F to any other funds or retain the amounts in this Fund. Each Plan year, the Company, at its discretion, may contribute additional amounts to participants. Vesting Participants are immediately 100% vested in their individual account and all employer matching contributions and earnings thereon. Page 8 Payment of Benefits Payment of benefits generally begins upon termination of service and attaining normal retirement age (65). A participant may elect to receive either a lump-sum amount equal to the value of his or her vested account balance, or a participant may elect to receive installments over a period not to exceed 20 years. However, a participant who has reached age 59 1/2, but who has not yet terminated employment may withdraw all or a portion of his or her accumulated account balance in accordance with the terms of the Plan. If upon termination of service, a participant does not attain normal retirement age and his or her vested account balance is greater than $5,000 and $3,500 at December 31, 1998 and 1997, respectively, he or she may elect to receive a lump-sum amount, a direct rollover to a qualified plan under Section 401 of the Internal Revenue Code, or a direct rollover to a qualified Individual Retirement Account equal to the value of his or her vested account balance. If the vested account balance is less than $5,000 and $3,500 at December 31, 1998 and 1997, respectively, the balance must be cashed out as soon as administratively practicable. Individual Participant Loans Participant loans cannot exceed the lesser of 50% of the vested amounts in the participant's account or $50,000. A participant may only have two loans outstanding, and they are treated as directed investments by the borrower with respect to his or her account. The interest rate on loans is established based on the prime rate, under current Plan provisions. Interest paid on the loan is credited to the borrower's account and the participant does not share in the income of the Plan's assets with respect to the amounts outstanding. Loans have a term of no more than five years except that a loan may be granted for a period not to exceed 25 years if the proceeds are used to purchase the participant's principal residence. During the Plan year ended December 31, 1998, $3,254,611 in loans were disbursed and principal repayments of $2,471,288 were made. Plan Termination Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, participants will become 100% vested in their accounts. 2. Summary of Significant Accounting Policies The financial statements have been prepared on the accrual basis of accounting. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at year end and the reported investment income and expenses during the Plan year. Actual results could differ from those estimates. Page 9 Contributions and Benefits Paid Contributions are recorded by the Plan when withheld from employees and accrued by the Company. Benefits are recorded when paid. Participants may receive distributions in cash or in common stock of Frontier Corporation for amounts invested in Fund F. Purchases and sales of securities are recorded on the trade date. Administrative Expenses Significant expenses associated with the Plan are paid by the Company. Valuation of Investment Assets Investments in registered investment companies and employer securities are stated at fair value, measured by quoted market prices. Investments in common trust funds are stated at estimated fair values which represent the net asset value of shares held by the Plan at year end. Adjustments for unrealized appreciation or depreciation of such values are included in the operating results of the Plan. 3. Party-in-Interest Transactions The Plan's holdings of Frontier Corporation common stock, the Putnam Investment, Inc. common trust and the five Putnam Investment, Inc. registered investment company funds are party-in-interest investments. As of December 31, 1998 and 1997, the Plan held 2,328,998 and 2,355,452 shares of Frontier Corporation common stock at a fair market value of $79,185,985 and $56,678,052, respectively. Of these shares, 233,816 were contributed by the Company during the Plan year ended December 31, 1998 for all of the Company's contribution categories. During the Plan year ended December 31, 1998, 131,205 shares of Frontier Corporation common stock were distributed to participants. 4. Federal Income Tax Status The Plan Administrator has received a favorable determination letter from the Internal Revenue Service covering the Plan, as amended, stating that the Plan, as designed, is a qualified plan in accordance with Section 401(a) of the Internal Revenue Code, and its corresponding trust is exempt from taxation under Section 501(a) of the Code. The Plan Administrator believes the Plan is being operated as designed and, therefore, maintains its tax- qualified status. Frontier Corporation Employees' Retirement Savings Plan Line 27a - Schedule of Assets Held for Investment Purposes Schedule I - -------------------------------------------------------------------------------
Current Number value at of December 31, Description/Issuer shares Cost 1998 Interests in Registered Investment Companies: * Putnam Income Fund 1,864,039 $ 12,897,243 $ 12,899,159 * Putnam Global Growth Fund 1,886,061 19,717,309 23,481,464 * Putnam Voyager Fund 2,408,017 39,140,870 52,783,761 * Putnam Fund for Growth and Income 151,588 3,141,957 3,106,035 * Putnam Asset Allocation Fund Balanced Portfolio 98,174 1,168,200 1,179,075 ------------- ------------- Total interests in registered investment companies 76,065,579 93,449,494 ------------- ------------- Common Trust: * Putnam S & P 500 Index Fund 1,309,710 21,403,594 37,889,923 ------------- ------------- Common Stock: * Frontier Corporation 2,328,998 57,216,356 79,185,985 ------------- ------------- Participant Loans: Participant loan accounts (rate 6.0% - 11.0%) (maturities range 1999 to 2023) 7,314,405 7,314,405 ------------- ------------- Insurance Company Pooled Separate Account: Stable Value Fund 39,410,558 39,410,558 ------------- ------------- Total investments $ 201,410,492 $ 257,250,365 ------------- -------------
* Denotes party-in interest Frontier Corporation Employees' Retirement Savings Plan Schedule II Line 27b - Schedule of Loans or Fixed Income Obligations Page 1 of 11 - --------------------------------------------------------------------------------
Amount received during Unpaid Original reporting year balance Amount overdue Identity and amount --------------------- at end of Description -------------------- address of obligor of loan Principal Interest year of loan Principal Interest Courtiss, Steven P. 35 Audubon Road, Apt. 51 Weymouth, MA 02188 $ 2,800.00 $ - $ -- $ 2,787.02 Participant loan $ 2,787.02 N/A Katchpole, David 13 Hill House, 4 Edgel London, England SW46ET $ 1,000.00 $ - $ -- $ 1,000.00 Participant loan $ 1,000.00 N/A Mahan, J. W. 30 Kirkby Trail Fairport, NY 14450 $ 3,725.00 $ - $ -- $ 3,513.52 Participant loan $ 3,513.52 N/A Randall, Michelle 1549 Roslyn Street Denver, CO 80020 $ 1,200.00 $ - $ -- $ 1,175.64 Participant loan $ 1,175.64 N/A Coffey, Linda S. 41 Morse Street Dansville, NY 14437 $ 3,800.00 $ - $ -- $ 3,800.00 Participant loan $ 3,800.00 N/A Derider, Robert L. 64 Toni Terrace Rochester, NY 14624 $ 12,300.00 $ - $ -- $ 5,034.03 Participant loan $ 5,034.03 N/A Derider, Robert L. 64 Toni Terrace Rochester, NY 14624 $ 5,600.00 $ - $ -- $ 4,083.36 Participant loan $ 4,083.36 N/A Shannon, Christopher J. 18 Diana Drive Scottsville, NY 14546 $ 8,332.00 $ - $ -- $ 6,736.31 Participant loan $ 6,736.31 N/A DiCiaccio, Rhonda 363 Fisher Road Rochester, NY 14624 $ 450.00 $ - $ -- $ 14.83 Participant loan $ 14.83 N/A Bloom, Jeffery R. 809 South Avenue Rochester, NY 14620 $ 3,700.00 $ - $ -- $ 3,700.00 Participant loan $ 3,700.00 N/A Schwehm, Susan W. 163 South Main Street Apt. #1, Unit 1 Fairport, NY 14450 $ 4,500.00 $ - $ -- $ 2,154.88 Participant loan $ 2,154.88 N/A Schwehm, Susan W. 163 South Main Street Apt. #1, Unit 1 Fairport, NY 14450 $ 8,000.00 $ - $ -- $ 5,710.77 Participant loan $ 5,710.77 N/A Lederman, D. 329 Clarewood Circle Grayslake, IL 60030 $ 6,109.40 $ - $ -- $ 5,885.83 Participant loan $ 5,885.83 N/A Wallace, K. 78 Fenton Road Rochester, NY 14624 $ 9,165.20 $ - $ -- $ 2,520.56 Participant loan $ 2,520.56 N/A
Frontier Corporation Employees' Retirement Savings Plan Schedule II Line 27b - Schedule of Loans or Fixed Income Obligations Page 2 of 11 - --------------------------------------------------------------------------------
Amount received during Unpaid Original reporting year balance Amount overdue Identity and amount --------------------- at end of Description -------------------- address of obligor of loan Principal Interest year of loan Principal Interest Brown, Teresa W. 1180 Watson-Hulburt Road Macedon, NY 14502 $ 6,249.60 $ - $ -- $ 204.44 Participant loan $ 204.44 N/A Nachaczewski, Michael RR1 Box 116 Castleton, VT 05735 $ 3,500.00 $ - $ -- $ 1,108.80 Participant loan $ 1,108.80 N/A Nachaczewski, Michael RR1 Box 116 Castleton, VT 05735 $ 4,500.00 $ - $ -- $ 3,368.80 Participant loan $ 3,368.80 N/A Blanc, Steve W. 17 Kathryns Way Sandown, NH 03873 $ 4,000.00 $ - $ -- $ 3,038.44 Participant loan $ 3,038.44 N/A Strini, Thomas J. 54 Blue Spruce Lane Ballston Lake, NY 12019 $ 10,325.00 $ - $ -- $ 4,582.49 Participant loan $ 4,582.49 N/A Donals, Nancy E. 52 Laney Road Rochester, NY 14620 $ 4,000.00 $ - $ -- $ 739.38 Participant loan $ 739.38 N/A Hancy, Betty J. 339 Center Street Caledonia, NY 14423 $ 2,100.00 $ - $ -- $ 2,100.00 Participant loan $ 2,100.00 N/A Wyand, Marion K. 73 Valley Brook Drive Fairport, NY 14450 $ 12,598.54 $ - $ -- $ 6,472.21 Participant loan $ 6,472.21 N/A Wyand, Marion K. 73 Valley Brook Drive Fairport, NY 14450 $ 14,597.69 $ - $ -- $ 14,438.03 Participant loan $ 14,438.03 N/A Sullivan, Kevin E. 653 Manitou Road Hilton, NY 14468 $ 3,100.00 $ - $ -- $ 1,839.88 Participant loan $ 1,839.88 N/A Sullivan, Kevin E. 653 Manitou Road Hilton, NY 14468 $ 1,100.00 $ - $ -- $ 783.34 Participant loan $ 783.34 N/A Hanlon, Christopher J. 6 Allegheny Avenue Coudersport, PA 16915 $ 3,852.87 $ - $ -- $ 3,809.93 Participant loan $ 3,809.93 N/A Casey, J. 856 Palmer Road Churchville, NY 14428 $ 12,254.53 $ - $ -- $ 1,373.14 Participant loan $ 1,373.14 N/A Levante, Peter G. 8488 Chinkapin Circle Cicero, NY 13039 $ 1,000.00 $ - $ -- $ 1,000.00 Participant loan $ 1,000.00 N/A
Frontier Corporation Employees' Retirement Savings Plan Schedule II Line 27b - Schedule of Loans or Fixed Income Obligations Page 3 of 11 - --------------------------------------------------------------------------------
Amount received during Unpaid Original reporting year balance Amount overdue Identity and amount --------------------- at end of Description -------------------- address of obligor of loan Principal Interest year of loan Principal Interest Guzik, Thomas 19005 East Chenango Circle Aurora, CO 80015 $ 1,273.45 $ - $ -- $ 1,128.82 Participant loan $ 1,128.82 N/A McKnight, Emma 17 Colleen Way Pittsford, NY 14534 $ 8,500.00 $ - $ -- $ 7,582.40 Participant loan $ 7,582.40 N/A Liebel, John H. 40 Buckwheat Drive Fairport, NY 14450 $ 7,000.00 $ - $ -- $ 7,000.00 Participant loan $ 7,000.00 N/A Cromwell, Kathryn L. 75 West Church Street Fairport, NY 14450 $ 450.00 $ - $ -- $ 87.78 Participant loan $ 87.78 N/A Accorso, R. E. 6033 Pittsford-Palmyra Road Fairport, NY 14450 $ 4,999.92 $ - $ -- $ 2,198.81 Participant loan $ 2,198.81 N/A Nageldinger, Robert 5049 Ridge Chapel Road Marion, NY 14505 $ 2,200.00 $ - $ -- $ 51.69 Participant loan $ 51.69 N/A Travis, S. 6300 Sparta-Conesus TL Road Conesus, NY 14435 $ 8,342.88 $ - $ -- $ 8,342.88 Participant loan $ 8,342.88 N/A Tanner, T. S. 1241 Winton Road South Rochester, NY 14618 $ 9,161.68 $ - $ -- $ 3,207.08 Participant loan $ 3,207.08 N/A Lazarek, Daniel G. 4695 North Church Lane Apt. 920 Smyrna, GA 30080 $ 12,632.22 $ - $ -- $ 4,269.76 Participant loan $ 4,269.76 N/A Fontana, Sharon A. 20 Pine Creek Lane Rochester, NY 14626 $ 15,000.00 $ - $ -- $ 14,714.19 Participant loan $ 14,714.19 N/A Heveron, Patrick 33 Helmsford Way Penfield, NY 14526 $ 7,909.14 $ - $ -- $ 1,827.94 Participant loan $ 1,827.94 N/A Heveron, Patrick 33 Helmsford Way Penfield, NY 14526 $ 13,000.00 $ - $ -- $ 13,000.00 Participant loan $ 13,000.00 N/A Ophardt, Andrew P. PO Box 17166 Rochester, NY 14617 $ 3,539.28 $ - $ -- $ 3,332.45 Participant loan $ 3,332.45 N/A Temple, Amy L. 140 Marne Street Rochester, NY 14609 $ 3,200.00 $ - $ -- $ 3,000.16 Participant loan $ 3,000.16 N/A
Frontier Corporation Employees' Retirement Savings Plan Schedule II Line 27b - Schedule of Loans or Fixed Income Obligations Page 4 of 11 - --------------------------------------------------------------------------------
Amount received during Unpaid Original reporting year balance Amount overdue Identity and amount --------------------- at end of Description -------------------- address of obligor of loan Principal Interest year of loan Principal Interest Burke, Alan 565 Holt Road Webster, NY 14580 $ 4,062.24 $ - $ -- $ 515.31 Participant loan $ 515.31 N/A Burke, Alan 565 Holt Road Webster, NY 14580 $ 3,000.00 $ - $ -- $ 66.77 Participant loan $ 66.77 N/A Laurer, Karl J. 88 Dunning Avenue Webster, NY 14580 $ 11,629.11 $ - $ -- $ 4,960.87 Participant loan $ 4,960.87 N/A Laurer, Karl J. 88 Dunning Avenue Webster, NY 14580 $ 455.52 $ - $ -- $ 302.53 Participant loan $ 302.53 N/A Gulati, D. K. 51 Rocking Horse Way Holland, PA 18966 $ 48,670.04 $ - $ -- $ 43,920.61 Participant loan $ 43,920.61 N/A Sorrentino, Timothy J. PO Box 464 Clifton Park, NY 12065 $ 4,000.00 $ - $ -- $ 1,587.18 Participant loan $ 1,587.18 N/A Markoulis, Renee A. 211 Impala Drive Rochester, NY 14609 $ 1,500.00 $ - $ -- $ 1,500.00 Participant loan $ 1,500.00 N/A Graham-Wadeikis, Bethany 2942 Kittering Road Macedon, NY 14502 $ 1,382.08 $ - $ -- $ 80.21 Participant loan $ 80.21 N/A Sullivan, Susan M. 142 Castlebar Road Rochester, NY 14610 $ 5,249.70 $ - $ -- $ 2,709.85 Participant loan $ 2,709.85 N/A Sullivan, Susan M. 142 Castlebar Road Rochester, NY 14610 $ 24,500.00 $ - $ -- $ 24,500.00 Participant loan $ 24,500.00 N/A Osterman, Barbara K. 17 Barrington Hills Pittsford, NY 14534 $ 25,520.88 $ - $ -- $ 23,114.84 Participant loan $ 23,114.84 N/A Teumer, C. R. 1726 Jackson Road Penfield, NY 14526 $ 20,928.16 $ - $ -- $ 20,928.16 Participant loan $ 20,928.16 N/A Robinson, Marcia M. 5625 Laurel Oak Drive Suwanee, GA 30024 $ 8,000.00 $ - $ -- $ 5,816.91 Participant loan $ 5,816.91 N/A Yawman, Philip H. 362 Hartsville Lane Webster, NY 14580 $ 5,060.04 $ - $ -- $ 4,753.31 Participant loan $ 4,753.31 N/A
Frontier Corporation Employees' Retirement Savings Plan Schedule II Line 27b - Schedule of Loans or Fixed Income Obligations Page 5 of 11 - --------------------------------------------------------------------------------
Amount received during Unpaid Original reporting year balance Amount overdue Identity and amount --------------------- at end of Description -------------------- address of obligor of loan Principal Interest year of loan Principal Interest Gaglione J. 753 Raymond Drive Lewiston, NY 14092 $ 15,000.00 $ - $ -- $ 7,651.20 Participant loan $ 7,651.20 N/A Hughes, Elizabeth A. 67 Rahway Lane Rochester, NY 14606 $ 6,323.20 $ - $ -- $ 5,293.10 Participant loan $ 5,293.10 N/A Putnam, David W. Jr. 19 Old Brook Trail Honeoye Falls, NY 14472 $ 14,580.61 $ - $ -- $ 11,250.80 Participant loan $ 11,250.80 N/A Putnam, David W. Jr. 19 Old Brook Trail Honeoye Falls, NY 14472 $ 8,000.00 $ - $ -- $ 7,838.57 Participant loan $ 7,838.57 N/A Nielsen, Robert A. 16 Lynnbrook Road Lynnfield, MA 01940 $ 4,129.88 $ - $ -- $ 1,140.28 Participant loan $ 1,140.28 N/A Barrett, Jerrienne M. 1502 Bristol Parkway Alpharetta, GA 30022 $ 6,815.00 $ - $ -- $ 3,253.71 Participant loan $ 3,253.71 N/A Mendes, M. 35641 Dunthorpe Lane Purcellville, VA 22132 $ 36,801.00 $ - $ -- $ 17,828.28 Participant loan $ 17,828.28 N/A Hvisdas, James M. 269 Randon Terrace Lake Mary, FL 32746 $ 5,000.00 $ - $ -- $ 3,614.00 Participant loan $ 3,614.00 N/A Anderson, Bonita W. 1 Bedford Court Fredericksburg, VA 22406 $ 2,410.00 $ - $ -- $ 2,388.88 Participant loan $ 2,388.88 N/A Baker, James H. 793 Everist Drive Aberdeen, MD 21001 $ 13,243.14 $ - $ -- $ 13,243.14 Participant loan $ 13,243.14 N/A Larson, Robert C. 13150 North 81st Avenue Peoria, AZ 85381 $ 2,800.00 $ - $ -- $ 2,800.00 Participant loan $ 2,800.00 N/A Armstrong, Lawrence W. 33 Scotts Lane Frisco City, AL 36445 $ 3,000.00 $ - $ -- $ 3,000.00 Participant loan $ 3,000.00 N/A Campbell, Robert L. PO Box 61 Dayton, OH 45402 $ 14,677.92 $ - $ -- $ 14,310.05 Participant loan $ 14,310.05 N/A Sniderhan, Tracie L. 1990 Humphrey Birmingham, MI 48009 $ 1,440.70 $ - $ -- $ 698.84 Participant loan $ 698.84 N/A
Frontier Corporation Employees' Retirement Savings Plan Schedule II Line 27b - Schedule of Loans or Fixed Income Obligations Page 6 of 11 - --------------------------------------------------------------------------------
Amount received during Unpaid Original reporting year balance Amount overdue Identity and amount --------------------- at end of Description -------------------- address of obligor of loan Principal Interest year of loan Principal Interest Kasler, D. Todd 817 Bradberry Lane Mathews, NC 28105 $ 3,100.00 $ - $ -- $ 2,660.75 Participant loan $ 2,660.75 N/A Shahabi, Omeed 4424 Ellsworth Drive Edina, MN 55435 $ 4,850.02 $ - $ -- $ 4,850.02 Participant loan $ 4,850.02 N/A Brosamer, Janet L. 1402 1500th Street Lincoln, IL 62656 $ 4,000.00 $ - $ -- $ 4,000.00 Participant loan $ 4,000.00 N/A Krass, Marian L. 1101 Highland Grove Drive Buffalo Grove, IL 60089 $ 1,494.80 $ - $ -- $ 1,046.72 Participant loan $ 1,046.72 N/A Miller, Steven 931 West Argyle Street #2 Chicago, IL 60640 $ 1,358.34 $ - $ -- $ 1,358.34 Participant loan $ 1,358.34 N/A Cleland, Cynthia J. Box 288, RR #1 Tuscola, IL 61953 $ 4,000.00 $ - $ -- $ 4,000.00 Participant loan $ 4,000.00 N/A Rosteck, Debra S. 8470 Pine Cove Drive Commerce Twp, MI 48382 $ 7,000.00 $ - $ -- $ 7,000.00 Participant loan $ 7,000.00 N/A Glowzinski, Patrick J. 10259 Cedar Island Road White Lake, MI 48386 $ 5,545.99 $ - $ -- $ 5,545.99 Participant loan $ 5,545.99 N/A Wagner, Larry G. 312 Balsam Diamondale, MI 48821 $ 2,727.82 $ - $ -- $ 134.33 Participant loan $ 134.33 N/A Loza, Lex T. 7243 Arcola Waterford, MI 48329 $ 1,850.00 $ - $ -- $ 1,850.00 Participant loan $ 1,850.00 N/A Carter, Cinthia A. 22275 Maplewood Drive Southfield, MI 48034 $ 10,500.00 $ - $ -- $ 10,500.00 Participant loan $ 10,500.00 N/A Burck, David M. 7232 Thomas Avenue South Richfield, MN 55423 $ 650.00 $ - $ -- $ 650.00 Participant loan $ 650.00 N/A Smith, Charlemae M. PO Box 19637 Detroit, MI 48219 $ 2,800.00 $ - $ -- $ 2,800.00 Participant loan $ 2,800.00 N/A Posey, Deborah 7712 Summerdale Circle Ypsilanti, MI 48197 $ 15,000.00 $ - $ -- $ 14,131.32 Participant loan $ 14,131.32 N/A
Frontier Corporation Employees' Retirement Savings Plan Schedule II Line 27b - Schedule of Loans or Fixed Income Obligations Page 7 of 11 - --------------------------------------------------------------------------------
Amount received during Unpaid Original reporting year balance Amount overdue Identity and amount --------------------- at end of Description -------------------- address of obligor of loan Principal Interest year of loan Principal Interest Posey, Deborah 7712 Summerdale Circle Ypsilanti, MI 48197 $ 4,000.00 $ - $ -- $ 3,936.56 Participant loan $ 3,936.56 N/A Hollenback, Janet M. 2353 Curdy Road Howell, MI 48843 $ 2,000.00 $ - $ -- $ 2,000.00 Participant loan $ 2,000.00 N/A Scharp, Jo Ann 130 Wilbur Street North Adams, MI 49262 $ 928.78 $ - $ -- $ 30.45 Participant loan $ 30.45 N/A Jayasimha, Madhigubba G. 7693 Palmilla Drive, Apt. 2115 San Diego, CA 92122 $ 705.01 $ - $ -- $ 705.01 Participant loan $ 705.01 N/A Keith, Cynthia 25528 Shiawassee, Apt. 282 Southfield, MI 48034 $ 2,000.00 $ - $ -- $ 1,806.70 Participant loan $ 1,806.70 N/A Keith, Cynthia 25528 Shiawassee, Apt. 282 Southfield, MI 48034 $ 1,000.00 $ - $ -- $ 929.15 Participant loan $ 929.15 N/A Carithers, Betty J. 20826 Botsford Drive Farmington Hills, MI 48336 $ 952.48 $ - $ -- $ 384.18 Participant loan $ 384.18 N/A Rudd, Regina 15739 Holmur Detroit, MI 48238 $ 1,000.00 $ - $ -- $ 719.33 Participant loan $ 719.33 N/A Dalrymple, Vicki 1237 Walnut Dearborn, MI 48124 $ 1,075.80 $ - $ -- $ 972.49 Participant loan $ 972.49 N/A Rosteck, Gary W. 8470 Pine Cove Commerce Twp, MI 48382 $ 11,000.00 $ - $ -- $ 11,000.00 Participant loan $ 11,000.00 N/A Fondaw, Ottavia P. 35259 Leon Livonia, MI 48150 $ 6,000.00 $ - $ -- $ 6,000.00 Participant loan $ 6,000.00 N/A Dorvinen, Cynthia K. 1605 East Cliff Road #122 Burnsville, MN 55337 $ 2,439.75 $ - $ -- $ 2,410.49 Participant loan $ 2,410.49 N/A Tarver, Philip 120 Glynn, Apt. #60 Detroit, MI 48202 $ 1,995.20 $ - $ -- $ 1,995.20 Participant loan $ 1,995.20 N/A Erickson, Sean E. 21095 Gary Drive, Apt. 309 Castro Valley, CA 94546 $ 2,800.00 $ - $ -- $ 2,565.61 Participant loan $ 2,565.61 N/A
Frontier Corporation Employees' Retirement Savings Plan Schedule II Line 27b - Schedule of Loans or Fixed Income Obligations Page 8 of 11 - --------------------------------------------------------------------------------
Amount received during Unpaid Original reporting year balance Amount overdue Identity and amount --------------------- at end of Description -------------------- address of obligor of loan Principal Interest year of loan Principal Interest Erickson, Sean E. 21095 Gary Drive, Apt. 309 Castro Valley, CA 94546 $ 4,547.34 $ - $ -- $ 4,249.08 Participant loan $ 4,249.08 N/A Hobson-Adams, Victoria 15894 Tacoma Detroit, MI 48205 $ 2,985.00 $ - $ -- $ 2,766.90 Participant loan $ 2,766.90 N/A Brown-Boston, Janie D. 6603 North 58th Street Milwaukee, WI 53223 $ 2,100.00 $ - $ -- $ 2,100.00 Participant loan $ 2,100.00 N/A Novak, Nancy 2623 Van Hise Avenue Madison, WI 53705 $ 1,649.34 $ - $ -- $ 1,071.28 Participant loan $ 1,071.28 N/A Novak, Nancy 2623 Van Hise Avenue Madison, WI 53705 $ 2,455.11 $ - $ -- $ 2,110.54 Participant loan $ 2,110.54 N/A Pociask, Susan M. 170 Hunters Lane Rockford, MI 49341 $ 3,645.98 $ - $ -- $ 2,380.92 Participant loan $ 2,380.92 N/A Pociask, Susan M. 170 Hunters Lane Rockford, MI 49341 $ 4,967.80 $ - $ -- $ 3,487.23 Participant loan $ 3,487.23 N/A Havlicek, Patricia A. 5117 Violet Lane Madison WI 53714 $ 3,396.45 $ - $ -- $ 2,741.02 Participant loan $ 2,741.02 N/A Greil, Daniel J. 705 Vermillion Street Hastings, MN 55033 $ 4,426.81 $ - $ -- $ 52.49 Participant loan $ 52.49 N/A Baier, Karen A. 3065 West Tanager Lane Green Bay, WI 54313 $ 1,374.34 $ - $ -- $ 12.64 Participant loan $ 12.64 N/A Hribernik, Scott J. 235 Brule Road De Pere, WI 54115 $ 1,484.11 $ - $ -- $ 1,019.23 Participant loan $ 1,019.23 N/A Perone, Regina M. 280 Joray Drive Mankato, MN 56001 $ 2,244.40 $ - $ -- $ 1,129.01 Participant loan $ 1,129.01 N/A Perone, Regina M. 280 Joray Drive Mankato, MN 56001 $ 2,800.00 $ - $ -- $ 2,518.91 Participant loan $ 2,518.91 N/A Turner, Russell W. PO Box 662 Excel, AL 36439 $ 5,000.00 $ - $ -- $ 5,000.00 Participant loan $ 5,000.00 N/A
Frontier Corporation Employees' Retirement Savings Plan Schedule II Line 27b - Schedule of Loans or Fixed Income Obligations Page 9 of 11 - --------------------------------------------------------------------------------
Amount received during Unpaid Original reporting year balance Amount overdue Identity and amount --------------------- at end of Description -------------------- address of obligor of loan Principal Interest year of loan Principal Interest Ikner, Brenda G. 224 Harvest Lane Monroeville, AL 36460 $ 4,463.00 $ - $ -- $ 4,463.00 Participant loan $ 4,463.00 N/A Weekly, Karen 1033 North Jefferson Medina, OH 44256 $ 4,400.00 $ - $ -- $ 4,400.00 Participant loan $ 4,400.00 N/A Phillips, Roger W. 202 Sterrett Street Camden, AL 36726 $ 4,500.00 $ - $ -- $ 4,500.00 Participant loan $ 4,500.00 N/A Daniel, Cereal C. Jr. 206 6th Avenue Atmore, AL 36502 $ 10,000.00 $ - $ -- $ 10,000.00 Participant loan $ 10,000.00 N/A Waters, Terry R. PO Box 636 Excel, AL 36439 $ 4,500.00 $ - $ -- $ 4,500.00 Participant loan $ 4,500.00 N/A Reeves, Beverly S. PO Box 1280 Monroeville, AL 36461 $ 7,945.31 $ - $ -- $ 7,945.31 Participant loan $ 7,945.31 N/A Fischer, Brenda K. 6934 Polaris Lane Maple Grove, MN 55311 $ 1,936.29 $ - $ -- $ 1,383.41 Participant loan $ 1,383.41 N/A Eldred, Joy M. 813 10th Street Farmington, MN 55024 $ 1,605.17 $ - $ -- $ 63.40 Participant loan $ 63.40 N/A Israel, Janet A. 5721 Maves Trail S.E. Prior Lake, MN 55372 $ 11,119.70 $ - $ -- $ 4,304.40 Participant loan $ 4,304.40 N/A Schliep, Elizabeth I. 3450 Crystal Circle NW Prior Lake, MN 55372 $ 3,549.60 $ - $ -- $ 3,549.60 Participant loan $ 3,549.60 N/A Johnson, Wendy 2011 19th Avenue NE Minneapolis, MN 55418 $ 2,191.86 $ - $ -- $ 889.60 Participant loan $ 889.60 N/A Janisch, Rebecca E. 13928 Drommond Trail Apple Valley, MN 55124 $ 4,764.68 $ - $ -- $ 1,476.84 Participant loan $ 1,476.84 N/A Barnett, Viola P. 10205 Bagley Northfield, MN 55057 $ 13,875.72 $ - $ -- $ 4,760.78 Participant loan $ 4,760.78 N/A Barnett, Viola P. 10205 Bagley Northfield, MN 55057 $ 9,646.56 $ - $ -- $ 1,753.92 Participant loan $ 1,753.92 N/A
Frontier Corporation Employees' Retirement Savings Plan Schedule II Line 27b - Schedule of Loans or Fixed Income Obligations Page 10 of 11 - --------------------------------------------------------------------------------
Amount received during Unpaid Original reporting year balance Amount overdue Identity and amount --------------------- at end of Description -------------------- address of obligor of loan Principal Interest year of loan Principal Interest Rademacher, Jean A. 705 Spruce Street Farmington, MN 55024 $ 4,070.00 $ - $ -- $ 4,070.00 Participant loan $ 4,070.00 N/A Leahy, Joseph L. 304 South Linden Place Northfield, MN 55057 $ 3,000.00 $ - $ -- $ 2,383.32 Participant loan $ 2,383.32 N/A Patterson, David 7491 Hidden Valley Court Cottage Grove, MN 55016 $ 5,678.27 $ - $ -- $ 5,678.27 Participant loan $ 5,678.27 N/A Herreid, Betty J. 1106 Sunset Road Worthington, MN 56187 $ 8,157.24 $ - $ -- $ 8,112.16 Participant loan $ 8,112.16 N/A Israel, Jack L. 5721 Maves Trail SE Prior Lake, MN 55372 $ 12,864.98 $ - $ -- $ 12,864.98 Participant loan $ 12,864.98 N/A Antonovich, Stacy A. 3930 East 8th #206C Casper, WY 82609 $ 1,095.62 $ - $ -- $ 1,095.62 Participant loan $ 1,095.62 N/A Scanlon, Angela 1383 County Road 8 Shortsville, NY 14548 $ 3,800.00 $ - $ -- $ 3,800.00 Participant loan $ 3,800.00 N/A Lynch, Gregory A. PO Box 190 Milliken, CO 80543 $ 2,500.00 $ - $ -- $ 2,500.00 Participant loan $ 2,500.00 N/A Guthrie, E. 274 Orchard Drive Monroe, NY 10950 $ 14,714.09 $ - $ -- $ 14,368.32 Participant loan $ 14,368.32 N/A Hamad, Aref K. 14655 East Asbury Avenue Aurora, CO 80014 $ 2,300.00 $ - $ -- $ 2,289.89 Participant loan $ 2,289.89 N/A Anderson, Scott D. 4445 East 123rd Avenue Thornton, CO 80241 $ 900.00 $ - $ -- $ 900.00 Participant loan $ 900.00 N/A Stuiber, Shannon C. 10837 Kennedy Creek Rd SW Olympia, WA 98512 $ 1,706.10 $ - $ -- $ 1,028.22 Participant loan $ 1,028.22 N/A Stuiber, Shannon C. 10837 Kennedy Creek Rd SW Olympia, WA 98512 $ 3,158.26 $ - $ -- $ 3,158.26 Participant loan $ 3,158.26 N/A Morris, Veronica 14249 Dobson Avenue Dolton, IL 60419 $ 1,166.92 $ - $ -- $ 1,166.92 Participant loan $ 1,166.92 N/A
Frontier Corporation Employees' Retirement Savings Plan Schedule II Line 27b - Schedule of Loans or Fixed Income Obligations Page 11 of 11 - --------------------------------------------------------------------------------
Amount received during Unpaid Original reporting year balance Amount overdue Identity and amount --------------------- at end of Description -------------------- address of obligor of loan Principal Interest year of loan Principal Interest Diehl, William R. 336 Hemingway Lane Roswell, GA 30075 $ 817.00 $ - $ -- $ 29.64 Participant loan $ 29.64 N/A Diehl, William R. 336 Hemingway Lane Roswell, GA 30075 $ 4,000.00 $ - $ -- $ 3,968.88 Participant loan $ 3,968.88 N/A Pitman, James E. 3555 Bell Road Auburn, CA 95603 $ 2,204.17 $ - $ -- $ 1,406.56 Participant loan $ 1,406.56 N/A
Frontier Corporation Employees' Retirement Savings Plan Line 27d - Schedule of Reportable Transactions - -------------------------------------------------------------------------------
Expense Number incurred Identity of Description of Purchase Selling Lease with party involved of asset transactions price price rental transaction Series of Transactions: Putnam Voyager Fund* Registered Investments 302 $12,044,864 N/A N/A Putnam Voyager Fund* Registered Investments 634 $ 9,450,131 N/A N/A Stable Value Fund Insurance Company Pooled Separate Account 474 14,511,618 N/A N/A Stable Value Fund Insurance Company Pooled Separate Account 566 11,564,844 N/A N/A Frontier Corporation* Common Stock 313 17,297,074 N/A N/A Frontier Corporation* Common Stock 743 18,764,399 N/A N/A Putnam S & P 500 Index Fund* Common Trust 310 7,692,747 N/A N/A Putnam S & P 500 Index Fund* Common Trust 562 5,995,487 N/A N/A Current value of asset on Net Identity of Cost of transaction gain party involved asset date (loss) Series of Transactions: Putnam Voyager Fund* $12,044,864 $12,044,864 Putnam Voyager Fund* 7,456,156 9,450,131 $1,993,975 Stable Value Fund 14,511,618 14,511,618 - Stable Value Fund 11,564,844 11,564,844 - Frontier Corporation* 17,297,074 17,297,074 - Frontier Corporation* 14,796,814 18,764,399 3,967,585 Putnam S & P 500 Index Fund* 7,692,747 7,692,747 - Putnam S & P 500 Index Fund* 3,823,554 5,995,487 2,171,933
* Denotes party-in-interest EX-23 2 CONSENT OF PRICEWATERHOUSECOOPERS LLP Exhibit 23 Consent of Independent Accountants We hereby consent to the incorporation by reference in the Prospectus constituting part of the Registration Statement on Form S-8 (File No. 33-51885) of Frontier Corporation of our report dated February 26, 1999 appearing on page 2 of this Form 11-K. PricewaterhouseCoopers LLP Rochester, New York June 18, 1999 -----END PRIVACY-ENHANCED MESSAGE-----