Western States Office &
Professional Employees
Pension Fund

Timeline

Action

Date

Pension Benefit Reduction and Recovery Plan application submitted to the U.S. Treasury Department

May 15, 2018

Personalized benefit estimates mailed to Plan participants

May 22, 2018

Pension Benefit Reduction and Recovery Plan application accepted by U.S. Treasury for review

May 17, 2018

Treasury review period

Up to 225 days (by December 26, 2018)

Treasury Approval

August 3, 2018

Participant voting period (if the Pension Benefit Reduction and Recovery Plan is approved by Treasury)

August 17 through September 7, 2018

Benefit reductions effective (if the Pension Benefit Reduction and Recovery Plan is approved by participants)

October 1, 2018

Reminder, if the Pension Benefit Reduction and Recovery Plan is not approved, the Plan is projected to run out of money during 2036. At that point, the PBGC will provide financial assistance to the Plan and all participants—including those who are disabled and those over age 75—will see benefit cuts.