Notice of Critical Status and Declining Status

This document is about a notice from the Local No. 863 Pension Fund informing participants that the plan is in critical and declining status, meaning it has funding and liquidity problems and is projected to become insolvent by 2025. The notice outlines the rehabilitation plan adopted by the trustees, which includes possible reductions to adjustable benefits, as well as the employer surcharges required to help correct the fund's financial situation. The document also discusses the Multiemployer Pension Reform Act of 2014 and the potential for benefit suspensions or a plan partition if necessary to prevent insolvency.