The Graphic Arts Industry Joint Pension Trust, the GCIU Benevolent Trust Fund, and the GCIU Officers, Representatives and Organizers Pension Plan have all adopted plans to protect participants and beneficiaries from potential Y2K problems.

All three plans intend to wire or mail the January 2000 benefit checks in late December 1999 to make sure that pensioners and benefit recipients receive their January checks in a timely manner. In addition, the plans will transfer cash into readily accessible accounts to cover the February 2000 benefit payments, in the event that the banking system runs into glitches and cannot correct Y2K related computer problems in January.

All three funds are prepared to mail all benefit checks to pensioners and benefit recipients instead of relying upon wire transfers.

The administrators emphasized that the systems for each of their plans are already Y2K compliant, and their professional advisors, managers, and custodian banks have all confirmed in writing that they, too, are Y2K compliant, or are in the process of becoming compliant prior to December 31, 1999.

The GCIU Supplemental Retirement and Disability Fund and the Inter-Local Pension Fund have or will be notifying their participants directly about their funds' efforts to protect members from Y2K problems. The GCIU Employer Retirement Fund is following up with its providers to ensure that they are Y2K compliant.