Pension Plan Funding Notice

This document is about a notice from the I.U.O.E. Local 98 Pension Fund regarding the pension plan's endangered status under the Pension Protection Act of 2006. The notice explains that the plan's actuary has determined the plan will experience a funding deficiency within seven years, and the trustees will be adopting a Funding Improvement Plan to improve the plan's funding over a ten-year period. The trustees may need to request contribution increases from the bargainers and may also have to reduce benefits, though they hope this will not be necessary. The notice is being provided to plan participants in accordance with the Pension Protection Act requirements.