Recently, a letter was sent from MPI to all enrolled members. Below is the official explanation of the letter from MPI.
Every 5 years the Pension and IAP plans have to be submitted to IRS for a “determination letter” confirming their tax-exempt status. Without tax exempt status, participants would be taxed on the contributions their employers make to the plans. The IRS requires that this notice be sent to all participants when MPI makes the application to IRS. NO MEMBER ACTION IS NECESSARY, THIS IS A FEDERAL REQUIRED NOTICFICATION.
