SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 17, 1994
NEW YORK TELEPHONE COMPANY
A New York Commission File I.R.S. Employer Identification
Corporation Number 1-3435 No. 13-5275510
1095 Avenue of the Americas, New York, New York 10036
Telephone number (212) 395-2121
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Form 8-K New York Telephone Company
February 17, 1994
Item 5. Other Events
On February 17, 1994, the Board of Directors of NYNEX Corporation
approved a special pension enhancement to the NYNEX Management
Pension Plan. Eligible management employees who choose to retire
through December 31, 1996 will be credited with an additional six
years toward their age and six years toward their length of service
for the purpose of determining pension eligibility and benefits.
This enhancement, which will be offered at different times through
1996 according to local force requirements, is expected to help
New York Telephone Company (the "Company") reduce the management
portion of its work force.
As previously reported (see the Company's Current Report on
Form 8-K, date of report January 24, 1994), the Company recorded
after-tax business restructuring and other charges of $806.0 million
in the fourth quarter of 1993, including $362 million after-tax for
severance and post-retirement medical costs for employees leaving
the Company through 1996. The Company expects to reduce its work
force by approximately 9,000 employees by the end of 1996. Any
additional charges related to the pension enhancement will be
recorded through 1996 as employees choose to retire under the plan.
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Form 8-K New York Telephone Company
February 17, 1994
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
New York Telephone Company
By Mel Meskin
Mel Meskin
Vice President-Finance
and Treasurer
February 25, 1994
