Notice of Endangered Status for Iron Workers District Council (Philadelphia and Vicinity) Retirement and Pension Plan

This document is about a notice sent to participants, beneficiaries, unions, and contributing employers of the Iron Workers District Council (Philadelphia and Vicinity) Retirement and Pension Plan, informing them that the plan has been certified as being in "endangered" status for the 2020 plan year. It explains the requirements for plans in this status under the Pension Protection Act of 2006, including the need to adopt a Funding Improvement Plan, which the trustees have done. The document also assures plan participants that the negotiated contribution rates are expected to be sufficient to fund the benefits and that no additional changes are needed to the Funding Improvement Plan at this time.