2020 Notice of Critical Status for 1199SEIU Greater New York Pension Plan

This document is a notice informing participants of the 1199SEIU Greater New York Pension Plan that the plan has been certified as being in critical status for the 2010 plan year. As a result, the plan is required to adopt a rehabilitation plan to restore the plan's financial health, which may include reducing or eliminating certain "adjustable benefits" such as early retirement subsidies and recent benefit increases. The notice also discusses an employer surcharge that will be imposed on contributing employers to help correct the plan's financial situation.