Notice of Election to Freeze Pension Protection Act Status

This document is about a notice from the Carpenters Local #66 of Olean and Vicinity Pension Fund regarding their election to freeze the Pension Protection Act (PPA) status of the fund for the 2009 plan year. The notice explains that the fund was certified as seriously endangered (orange zone) for the 2009 plan year due to projected funding deficiencies, but the Board of Trustees has elected to freeze the 2008 certification of green zone status in order to develop a funding improvement plan and take appropriate actions to improve the plan's funding status.