Notice of Critical Status and Annual Funding Notice for the Textile Processors, Service Trades, Health Care, Professional and Technical Employees International Union Local No. 1 Pension Fund

This document is about informing participants that the Textile Processors, Service Trades, Health Care, Professional and Technical Employees International Union Local No. 1 Pension Fund has been certified as being in critical status for the plan year beginning January 1, 2008. It explains that the plan must adopt a rehabilitation plan aimed at restoring the financial health of the plan, which may include reducing or eliminating certain "adjustable benefits" as part of the plan. It also provides the annual funding notice for the plan, including information about the plan's funded status, financial information, and rules governing insolvent plans and benefit payments guaranteed by the PBGC.