Notice of Critical Status

This document is about a notice issued by the New Jersey Building Laborers Statewide Pension Fund informing participants, beneficiaries, contributing employers, and unions that the pension fund has been certified to be in critical status for the plan year beginning January 1, 2020. It explains the Pension Protection Act's requirements for plans in critical status, including the adoption of a Rehabilitation Plan and the potential reduction of adjustable benefits. The document also discusses the employer surcharge, the next steps, and provides contact information for more information.