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New York State Teamsters Benefit Funds PO Box 4928 Syracuse, New York 132214928 Telephone: 3154559790 Facsimile 3152341046 email: benefits@nytfund.orgMunicipal Enrollment Form MEMBER INFORMATION SECTION

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How to fill out notice of critical status

01

Fill out the name of the person or entity being notified.

02

Include the date of the notice.

03

Clearly state the reason for the critical status notification.

04

Provide any relevant supporting documents or evidence.

05

Include contact information for further questions or information.

Who needs notice of critical status?

01

Any entity or individual that needs to officially notify another party of a critical status or issue.

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What is notice of critical status?

A notice of critical status is a notification that a multiemployer pension plan is in financial distress, indicating that it may not be able to pay benefits when due.

Who is required to file notice of critical status?

The plan administrator of a multiemployer pension plan is required to file a notice of critical status with the Pension Benefit Guaranty Corporation (PBGC) and notify plan participants and beneficiaries.

How to fill out notice of critical status?

To fill out a notice of critical status, gather the required financial information, complete the designated forms, and ensure all required disclosures are made regarding the plan's financial condition.

What is the purpose of notice of critical status?

The purpose of a notice of critical status is to inform plan participants, beneficiaries, and regulatory authorities about the financial health of the pension plan and the potential risk of benefit reductions.

What information must be reported on notice of critical status?

The information that must be reported includes the plan's funding percentage, the identity of the plan sponsor, the reasons for the plan's critical status, and any actions taken or proposed to address the funding issues.

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