Notice of Endangered Status for 2019 Plan Year

This document is about a notice informing the Philadelphia Marine Trade Association - Security Officers' Police and Guards' Union Pension Plan that the plan is in endangered status for the 2019 plan year. The plan's actuary has determined the January 1, 2019 funded percentage is 71.1%, which is less than 80%. Federal law requires the plan to adopt a funding improvement plan to avoid a funding deficiency and improve the plan's financial health by 33% over the 10-year funding improvement period.