Notice of Critical Status

This document is about a notice of critical status for the Local 945 I.B.T. Pension Plan as of January 1, 2010. The plan's actuary has certified that the plan has not passed the "Emergence Test" and is projected to have a funding deficiency in the current year or the next nine plan years. The plan is therefore in critical status, and the trustees have developed a rehabilitation plan that includes increased contributions from employers and changes in benefits, such as the elimination of the lump sum return of contributions death benefit and a reduction in the monthly normal retirement benefit.