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2021 Annual Funding Notice

The Central Pension Fund mailed the 2021 Annual Funding Notice (AFN) to all plan participants on Friday, May 21, 2021. Please note, this notice was sent for informational purposes only and does not require any further action be taken.

The notice can be viewed on the CPF website by clicking on the link below.

2021 Annual Funding Notice

Below are some of the most common questions we get from plan participants regarding the Annual Funding Notice.

AFN Explanation

The following pages present the Central Pension Fund’s 2021 Annual Funding Notice (AFN). This notice is sent for informational purposes only and does not require any further action to be taken. Below are some of the most common questions regarding the AFN:

1Why am I getting the Annual Funding Notice?

Federal law requires that all pension plans distribute an AFN annually, in the exact format presented.

2What is the Annual Funding Notice?

The Annual Funding Notice includes relevant information about the Fund, and provides a summary of federal rules governing insolvent multiemployer plans and benefit payments guaranteed by the Pension Benefit Guaranty Cooperation (PBGC), a federal agency.

3. Do I need to do anything with the Notice?

You do not need to do anything with the Notice. The AFN is sent for informational purposes only.

4. Does this Notice mean that my pension benefits will be terminated or that PBGC is taking over my benefit?

No. The description of the PBGC is provided for informational purposes only.

5. I am currently receiving a monthly payment. Will my benefit amount change?

No. If you are currently receiving benefits from the Plan, those benefits will continue unchanged.

6. I am currently not receiving a benefit, will my Accrued Benefit change? Will the

method of determining my benefit at commencement date change?

No. There is no impact on your accrued benefits. The AFN is sent for informational purposes only. It does not in any way change the way your benefits accrue under the Plan.

7. What is the Pension Benefit Guaranty Corporation (PBGC)?

The PBGC is a federal corporation created by federal law in 1974. Currently, it protects the pensions of nearly 40 million American workers and retirees in over 24,000 private single-employer and multiemployer defined benefit pension plans. For more information on PBGC, please visit their website: www.pbgc.gov

Disclaimer

This Internet site is owned and operated by the Central Pension Fund of the International Union of Operating Engineers and Participating Employers (hereinafter “Central Pension Fund”). The materials on this Internet site may be downloaded for PERSONAL USE ONLY. The copying, reproduction, duplication, modification, distribution or disclosure of information contained on this site without the prior written approval of the Central Pension Fund is expressly prohibited. Improper access and use of this Internet site is also strictly prohibited and may subject an unauthorized user to criminal and civil penalties, including indemnification to the Central Pension Fund for losses or damages caused by such unauthorized use including, but not limited to, unauthorized uploading or posting of information and copyright infringement. The materials on this Internet site are provided for informational and educational purposes only. The content of these websites is not, and shall not be construed as, a promise of benefits. All benefits are governed by the terms of applicable plan documents as interpreted by the Board of Trustees. You may use this site to learn about the benefits provided by the Central Pension Fund. However, the Central Pension Fund does not warrant the accuracy or completeness of the information, Internet links, or other items contained on the site. Moreover, the Central Pension Fund expressly disclaims liability for errors or omissions in these materials, and disclaims all warranties, express or implied, including the implied warranties of merchantability and fitness for a particular purpose. In no event shall the Central Pension Fund, or any other third parties mentioned on this Internet site, be liable for any damages arising out of the use, inability to use, or the results of use of this site, any Internet sites linked to this site, or the materials or information contained on all such sites. The Central Pension Fund makes no commitment to update the information contained on this site and, as such, the information on this site is not guaranteed to be current. The Central Pension Fund has provided links to outside sites, but is not responsible for the content or the availability of these sites. The inclusion of such links is neither intended nor understood to constitute any implied or express approval or acceptance of the validity of the information contained on such sites. The information contained on this Internet site does not constitute financial or legal advice. You should not act (or refrain from acting) based upon information on this Internet site without obtaining professional advice regarding your particular facts and circumstances. The Central Pension Fund expressly disclaims all liability with respect to actions taken or actions not taken based on the content of this Internet site. The Central Pension Fund and any entities mentioned herein (including entities for which an Internet link is provided) expressly disclaim all liability for any losses, claims, injuries, or damages-whether direct, indirect, consequential, incidental or otherwise-arising from the use of any information contained on this Internet site. If any provision in this Disclaimer is held to be invalid or unenforceable, the remaining provisions shall continue in full force and effect to the fullest extent possible under the law.