Graphic Communications Conference of the International Brotherhood of Teamsters
National Pension Fund
PENSION PROTECTION ACT OF 2006
GCC/IBT-NPF
Information Concerning the Pension Protection Act
Congress enacted the Pension Protection Act of 2006 ("PPA") to strengthen defined benefit plans such as the GCC/IBT National Pension Fund. On August 28, 2007, the GCC/IBT-NPF’s actuary certified that the GCC/IBT-NPF's funded status would be considered Critical at the start of the Plan Year beginging May 1, 2008. To comply with the PPA and improve the GCC/IBT-NPF's funded status, benefit adjustments and contribution increases are being implemented pursuant to the Rehabilitation Plan adopted by the Board of Trustees.
The GCC/IBT-NPF's Rehabilitation Plan consists of two schedules: the Preferred Schedule and the Default Schedule. The Preferred Schedule requires additional contributions but preserves more benefits. The Default Schedule require a higher level of contribution increases and reduces more benefits than the Preferred Schedule..
For more information, click on the following link to view information about the Rehabiliation Plan.
