Notice of Critical Status For Local Union 373 U.A. Pension Plan

This document is about informing the participants of the Local Union 373 U.A. Pension Plan that the plan is in critical status, meaning it has funding or liquidity problems. The document outlines the steps the plan is required to take under federal law, including adopting a rehabilitation plan to restore the financial health of the plan. It also details the potential reductions in "adjustable benefits" that may be made as part of the rehabilitation plan, and the employer surcharge that will be required to help correct the plan's financial situation.