Notice of Critical and Declining Status for Freight Drivers and Helpers Local Union No. 557 Pension Fund

This document is about a notice from the Freight Drivers Local Union No. 557 Pension Fund informing that the plan is in critical and declining status for the plan year beginning January 1, 2020. The plan is projected to become insolvent in the 2023 Plan Year, and the Trustees are reviewing options to prevent insolvency. The document also discusses the rehabilitation plan required by federal law and the potential for further benefit reductions.