Bricklayers Local No. 55 Pension Plan 2021 Notice of Critical and Declining Status

This document is about the Bricklayers Local No. 55 Pension Plan's notice of critical and declining status for the 2021 plan year. It explains that the plan is projected to have an accumulated funding deficiency and become insolvent by 2037, and as a result, the board of trustees may need to suspend benefits to avoid insolvency. The document also outlines the rehabilitation plan adopted in 2010, which includes reductions to certain adjustable benefits, and states that further benefit reductions may be necessary in the future.