Notice of Critical Status for Local Union No. 863 I.B. of T. Pension Plan

This document is about informing participants, beneficiaries, contributing employers, and the local union that the Local No. 863 I.B. of T. Pension Plan has been certified as being in critical status as of September 1, 2008. It explains that the plan must adopt a rehabilitation plan to improve its funded position, which may include contribution rate increases and reductions in adjustable benefits. It also discusses benefit restrictions, such as the prohibition on lump sum payments, and the requirement for contributing employers to pay a surcharge to help correct the plan's financial situation.