Annual Funding Notice

GBMC 2020 Annual Funding Notice (AFN) to all plan participants

Please note, this notice is informational only and does not require any further action.

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

1. Why am I getting the Annual Funding Notice?
Federal law requires that all pension plans distribute an AFN annually, in the exact format presented.

2. What is the Annual Funding Notice?
The Annual Funding Notice includes relevant information about the Plan, and provides a summary of federal rules governing insolvent 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 required and provided for informational purposes only.

5. Does this Notice mean that my pension benefits will change?
No. There is no impact on your benefits. The AFN is sent for informational purposes only. It does not in any way change your benefits under the Plan.