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Post by zippo on Jun 23, 2022 5:43:01 GMT -5
Dear Participant:
We are writing to provide an update on the status of the NYS Fund’s application for Special
Financial Assistance (“SFA”). Since our last update, the NYS Fund and its professionals have been
working with the Pension Benefit Guaranty Corporation (“PBGC”) on changes to the application
filed earlier this year. As explained previously, those changes relate to certain actuarial
assumptions used to calculate the amount of SFA for the NYS Fund.
We recognize that the delayed receipt of SFA monies and restoration of benefits is frustrating. The
Trustees share that frustration and are working through the process as quickly as possible. We
expect to submit a revised SFA application in the near-term, although at this time cannot provide
an exact date.
Thank you for your continued patience as we work through the process. We will continue to keep
you updated.
Sincerely,
The Board of Trustees
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