2021 Notice of Critical and Declining Status

This document is about a notice from the Michigan Regional Council of Carpenters' Fringe Benefit Funds regarding the critical and declining status of the Carpenters Pension Trust Fund - Detroit and Vicinity Pension Plan. It provides information on the plan's projected accumulated funding deficiency, insolvency, and funded percentage, as well as the required adoption of a rehabilitation plan that may involve reductions to future benefit accruals, increases to contribution rates, or both. The document also outlines the "adjustable benefits" that may be reduced or eliminated as part of the rehabilitation plan and the possibility of benefit suspensions to avoid insolvency, subject to approval and participant vote. It encourages readers to contact the Board of Trustees for more information on the rehabilitation plan and any future adjustments.