Notice of Critical and Declining Status for Bricklayers and Allied Craftworkers Local 5 New York Pension Plan

This document is about a notice informing participants that the Bricklayers and Allied Craftworkers Local 5 New York Pension Plan is in critical and declining status, meaning the plan has funding or liquidity problems and is projected to become insolvent within the next 19 years. The document outlines the actions the plan has taken as part of its rehabilitation plan, including benefit reductions and contribution rate increases, as well as the employer surcharge required. It also provides information on where participants can get more details about the plan's status and rehabilitation efforts.