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� CEN7RALSTATES <br />(� PENSION FUND <br />I <br />August 26, 2021 <br />GEORGE SHERAW <br />DIRECTOR, LABOR RELATIONS <br />INDIANA CONSTRUCTORS, INC <br />ONE N CAPITOL AVE, STE 1000 <br />INDIANAPOLIS, IN 46204 <br />SHAWN STRAIN <br />TRUSTEE <br />LOCAL UNION NO. 135 <br />849 S MERIDIAN ST <br />INDIANAPOLIS, IN 46225 <br />RE: Pension Fund Contribution Rate Increase <br />Highway, Heavy and Utility Division of <br />Indiana Construction Association <br />Contract Expiration Date: March 31, 2022 <br />Dear George Sheraw, Shawn Strain and Robert Warnock: <br />EMPLOYEE TRUSTEES <br />CHARLESA W,10EREY <br />GEORGE J. YMSTLEY <br />GARYDUNHAM <br />TREVORLAMEMCE <br />(MOVER TRUSTEES <br />GARY F CALDWELL <br />ROEERT V64TAKER <br />MARKF AYGERAMF <br />EXECUTWE MRECTOR <br />THOWAS G NYHAN <br />ROBERT WARNOCK <br />PRESIDENT <br />LOCAL UNION NO.364 <br />2405 EDISON ROAD <br />SOUTH BEND, IN 46615 <br />The collectivve bargaining agreement for the above referenced account will expire on March 31, 2022, In <br />accordance with the Pension Protection Act of 2006. the corresponding Central States Fund's Rehabilitation <br />Plan and the Multiemployer Pension Reform Act ot2014 rMPRX), all renewal agreements are to include <br />the required pension rate increases. MPRA provides for the Pension Fund to implement these rates after <br />the collective bargaining agreement has expired. Pension rate increases for your renewal agreement will <br />be effective on April 1. 2022 and will be reflected on your upcoming billings. <br />The following are the minimum rates for the next five years which are necessary for your agreement: <br />Current April 1, 2022 April 1, 2023 April 1, 2024 Apd11, 2025 April 1. 2020 <br />$157.60 $163.90 14W $170.50 (474 $177.30 (40/4 $184.40 (49W 1191.80 (4-A <br />Please note that although we have listed five years of rates, any agreement term for less than the historical <br />contract duration, but not less than three years, is subject to review and approval by the trustees. <br />As you may be aware, on March 11, 2021, President Biden signed the American Rescue Plan Act into law. <br />The federal Pension Benefit Guaranty Corporation issued an interim final rule and request for comment for <br />implementing this new law on July 9. 2021, including the process necessary for Central States and other <br />funds to receive the authorized financial relief. However, it should be noted, that subject to federal guidance, <br />the Rehabilitation Plan contribution schedules (4% annual increases unless capped) will remain in effect <br />under the law. <br />Please submit all renewal agreements to the address below, attention: Contracts Department, by fax to 847- <br />518-9768 or by e-mail to contracts@centraistates.org. If there are any questions, you may contact the <br />Contracts Department at extension 3247. <br />Sincerely, <br />Q <br />vJ <br />Karl A. Lewis <br />Division Manager <br />Contracts <br />8647 West Higgins Road, Chicago IL 60631-2803 1 MyCentralStatesPension.org <br />