Notice of Critical Status for Local 945 I.B.T. Pension Plan

This document is about a notice sent to the participants of the Local 945 I.B.T. Pension Plan informing them that the plan has been certified to be in critical status for the plan year beginning January 1, 2021. It outlines the plan's funding issues, the required adoption of a rehabilitation plan, the adjustable benefits that may be reduced or eliminated, and the employer surcharge that contributing employers must pay to help correct the plan's financial situation.