Notice of Critical Status For Teamsters Local 617 Pension Fund

This document is about notifying the members of the Teamsters Local 617 Pension Fund that the plan has been certified as being in critical status for the 2020 plan year. It explains that the plan has funding and liquidity problems, and that a rehabilitation plan has been adopted to restore the financial health of the plan. The document outlines the potential for reductions in certain "adjustable benefits" as part of the rehabilitation plan, and informs members that the plan is not permitted to pay lump sum benefits while in critical status.