Notice of Critical Status - Local 1034 Pension Plan

This document is about a notice informing participants that the Local 1034 Pension Plan is in critical and declining status for the 2021 plan year. It provides details on the plan's funding and liquidity problems, the requirement to adopt a rehabilitation plan, the possibility of benefit reductions, and the employer surcharge. The document outlines the types of "adjustable benefits" that may be reduced or eliminated as part of the rehabilitation plan.