Zone Certification
As of April 1, 2017
For
Local 805 Pension and Retirement Plan
EIN: 13-1917612/PN: 001

Initial Critical Zone Certification: April 1, 2008
Adoption Period: 4/1/2008 — 3/31/2011
Rehabilitation Period: 4/1/2011 — 3/31/2024
Initial Critical and Declining Zone Certification: April 1, 2015

Based on the following actuarial measures, the Plan is classified as “Critical and Declining Status” (a Red Zone
category) as per the Multiemployer Pension Reform Act of 2014 (MEPRA).

> The Plan meets the criteria for Critical Status, and
> The Plan is projected to become insolvent in the current or next 19 years and
> The Plan’s ratio of inactive to active participants is in excess of 2 to 1.

After considering and rejecting as unreasonable various scenarios intended to meet the benchmarks of the Pension
Protection Act, the Trustees selected a Rehabilitation Plan intended to comply with the provisions of IRC
§432(e)(3)(A)(ii). Based upon the provisions of IRC §432(e)(3)(A)(ii), the Plan is making required progress in
its Rehabilitation Plan.

voor Funded Percentage (PPA) as of March 31 Projected Credit Balance as of March 31
‘$50
sors 2 9
= Seats oo sia Sak SSS a
PO otf df gg
60% -$50 Par
40% $100 We
20% $150
0% =e ares ~$200
ne ase oes =

This certification was prepared on behalf of the Teamsters Local 805 Pension Plan based on employee data, asset
statements and plan documents provided by the Plan Sponsor or its representatives. We relied upon the data as
submitted, without formal audit. However, the data was tested for reasonableness, and we have no reason to
believe that any other information which would have had a material effect on the results of this valuation was
overlooked.

Therefore, to the best of our knowledge and belief, the information presented in this certification is complete and
accurate, and each assumption used represents our best estimate of anticipated experience under the Plan.


The actuarial assumptions used are those used in the March 31, 2016 actuarial valuation.

ithe Treasury

Craig A. Voelker, FSA, MAAA, EA
Enrolled Actuary No.: 14-05537
1236 Brace Rd. Unit E

Cherry Hill, NJ 08034

Phone (856) 795-7777

June 29, 2017

cc: Secretary of the Treasury- EPCU @irs.gov

On Behalf of Plan Sponsor:

Board of Trustees

Local 805 Pension and Retirement Plan
60 Broad Street

37th Floor

New York, NY 10004

Phone (212) 308-4200


Local 805 Pension Plan
EIN:
PN: 001

Zone Certification (continued)
as of April 1, 2017

The Pension Protection Act of 2006 (“PPA”) added special rules that define funding zones. A plan is first
tested for the worst funding zone, and then successively better zones.

I. Critical Status & Declining:
1. Does the Plan meet the Critical Status criteria below?
2. Is the Plan projected to go insolvent in the current or next 14 years?

3. _ Is the Plan projected to go insolvent in the current or next 19 years, and have a funding percentage below
80% or have a ratio of inactive to active in excess of 2 to 1?

II. Critical Status—The Plan will be certified as Critical if it meets any one of the five following tests:

1. The Plan has a funded ratio of less than 65%, and the value of Plan assets plus projected
contributions is less than the value of projected Plan benefits and expenses to be paid for the
current and six succeeding plan years.

2. The Plan has a funded ratio of less than 65%, and is projected to have an accumulated funding
deficiency for the current year or in any of the four succeeding plan years.

3. The Plan is projected to have an accumulated funding deficiency for the current plan year or in
any of the three succeeding plan years.

4, Normal cost plus interest on the unfunded liabilities exceeds contributions, the present value of
the vested benefits of inactive employees exceeds the present value of vested benefits of active
employees, and the Plan is projected to have an accumulated funded deficiency for the current
plan year or in any of the four succeeding plan years.

5. The Value of Plan assets plus projected contributions is less than the value of projected
benefits and expenses to be paid for the current and four succeeding plan years.

III. Seriously Endangered Status— Meets both Endangered criterion
IV. Endangered Status— Meets either criteria

1. The ratio of assets to liabilities is less than 80% on the first day of the plan year.
2. The Plan is projected to have an accumulated funding deficiency for the current plan year or in

As per the criteria above the Plan is certfied as:..

Plan is eligible to elect to be in Red Zone?
If so, and not electing to do so Plan must notify the PBGC

Z.\065 805\p\Val2017\Linked Summary 805 17.xlsx, ZC

Condition Met?

TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
FALSE
TRUE
TRUE
TRUE
TRUE
Critical & Declining
FALSE
5/4/2017