What is a Schedule under NPF’s Rehabilitation Plan?
As you know, the NPF’s actuaries declared the NPF in critical status as of February 2008. This determination was made, in brief, because the Plan was projected to have an accumulated funding deficiency within four years and the funded percentage of the Plan is less than 65%. In light of this, the NPF Board of Trustees was required to develop a Rehabilitation Plan to improve funding. The Rehabilitation Plan uses a combination of benefit adjustments and contribution rate increases to accomplish this goal. These combinations are put into Schedules. There are currently two Schedules, the Default Schedule and the Alternative Schedule.
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