Notice of Critical and Declining Status

This document is about informing the members of the Local 1814 Riggers Pension Fund that the plan has been certified to be in critical and declining status for the plan year beginning January 1, 2020. It explains that the plan is projected to have an accumulated funding deficiency in 2020 and to be insolvent in 2029, and that the plan trustees have developed a rehabilitation plan to forestall insolvency. The document outlines the adjustable benefits that may be reduced or eliminated as part of the rehabilitation plan, and provides information on where to get more details.