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Negotiations

Please be advised that on March 31, 2017, the plan actuary of the National Integrated Group Pension Plan (the "Plan") certified that the Plan is in critical status for the plan year beginning January 1, 20171.  This is the ninth year the plan has been in critical status. As a result, in accordance with the provisions of the Internal Revenue Code and the Employee Benefit Security Act of 1974, as amended by the Pension Protection Act of 2006, the Board of Trustees is not permitted to accept any requests for a Supplement to a Participation Agreement.

 

1The plan actuary’s certification of March 31, 2017, also stated that the Plan is in critical and declining status for the plan year beginning January 1, 2017, under the standards of the Multiemployer Pension Plan Reform Act of 2014.

 

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