Notice of Critical Status for IAM National Pension Fund

This document is about the IAM National Pension Fund notifying the U.S. Department of Labor that the fund is in critical status for the plan year beginning January 1, 2019. The notice explains that the fund's actuary has projected the fund to be in critical status in one of the succeeding five plan years due to an anticipated accumulated funding deficiency. As a result, the fund has voluntarily elected to be in critical status to strengthen its financial health, and a rehabilitation plan may be adopted that could include reductions to certain "adjustable benefits" such as death benefits, early retirement benefits, and payment options. The notice also informs that contributing employers will be required to pay a surcharge to help correct the fund's financial situation.