Plan News
Notice of Annual Funding and Critical Status (including a list of “missing” participants that the Plan has been unable to locate)
Supplement to Agreement to Participate in Agreement and Declaration of Trust
As communicated in late 2023, the National Integrated Group Pension Plan (NIGPP) Board of Trustees amended the Rehabilitation Plan that has been in effect since 2009, due to the requirements of the Pension Protection Act. The Board has determined that if the Bargaining Parties previously adopted the Preferred Schedule under NIGPP’s Rehabilitation Plan, effective January 1, 2024, you may now negotiate for benefit level increases on a future service basis.
NIGPP’s Application for Special Financial Assistance Approved (June 2023)
We are pleased to announce that the Plan has received approximately $887.1 million in special financial assistance from the federal government under the American Rescue Plan Act (ARPA).
The special financial assistance means that NIGPP is expected to continue to pay out all promised benefits through at least 2051. This does not mean that benefits will be increased in the near future, but it does mean that they will not be decreased within the next decade as was anticipated: without the special financial assistance, the Plan was projected to run out of money to pay benefits in 2034.
For more information, see the announcement from the Pension Benefit Guaranty Corporation, the federal agency that is administering the special financial assistance program.