Information Concerning the Pension Protection Act and 2008 Rehabilitation Plan

Congress enacted the Pension Protection Act of 2006 (PPA) to strengthen defined benefit plans such as the National Pension Fund. As anticipated, on February 1, 2008, NPF’s actuary certified that the NPF's funded status is Critical. To comply with the PPA and improve NPFs funded status, benefit adjustments and contribution increases will be implemented in a Rehabilitation Plan.

The 2008 Rehabilitation Plan consists of two schedules: the 2008 Default Schedule and 2008 Alternative Schedule. The 2008 Alternative Schedule requires additional contributions but preserves more benefits. The 2008 Default Schedule does not require contribution increases and reduces more benefits.

This page is intended to provide ready access to recent communications and resource materials related to the 2008 Rehabilitation Plan, including a Comparison Matrix, Questions & Answers and Messages and Excerpts from Remarks made by Chairman Sullivan.

Please take a moment to review the materials below. Check back often as material will be updated and revised. If you have additional questions, please feel free to contact us at info@smwnpf.org.

Please note that the information found here is for illustration purposes only and will be subject to the actual provisions or the Plan Document, the 2008 Rehabilitation Plan, its Schedules and the PPA.

Click-on Resources

Notice of Reduction in Adjustable Benefits for whom Employer Contributions are not currently Required to be Made

Supplemental Notice of Critical Status

Rehabilitation Plan

2008 Default Schedule

2008 Alternative Schedule

Notice of Critical Status with Additional Explanation

Chairman Sullivan's Message about Upcoming Changes to the National Pension Fund

2007 SMACNA Convention Remarks by Chairman Sullivan

Other PPA & Rehabilitation Plan Resources

COLA Benefit Increases and the PPA

Schedule Comparison Matrix

Questions and Answers

The Pension Protection Act:
Its impact on Collective Bargaining by Steve Burton

Local Unions and Employers

2008 Meeting with Local Leaders Presentation

2008 Schedules under the Rehabilitation Plan and Notice of Surcharge Letter

Sample CBA Addendum - 2008 Default Schedule

Sample CBA Addendum - 2008 Alternative Schedule

Notice to Contributing Employers Concerning Schedule Adoption

2008 Rehabilitation Plan Schedule Adoption

SMACNA Letter of Understanding on Schedule Adoption

Government Websites for Pension Protection Act

Department of Labor

Internal Revenue Service