; (B) a description of the types of benefits that might be reduced; and (C) an estimate of the contribution increases and benefit reductions that may be necessary to achieve a projected funded ratio of 120 percent. (2) Notice of benefit modifications (A) In General No modifications may be made that reduce the rate of future benefit accrual or that reduce core benefits or adjustable benefits unless notice of such reduction has been given at least 180 days before the general effective date of such reduction for all participants and beneficiaries to— (i) plan participants and beneficiaries; (ii) each employer who has an obligation to contribute to the composite plan; and (iii) each employee organization which, for purposes of collective bargaining, represents plan participants employed by such employers. (B) Content of Notice The notice under subparagraph (A) shall contain— (i) sufficient information to enable participants and beneficiaries to understand the effect of any reduction on their benefits, including an illustration of any affected benefit or subsidy, on an annual or monthly basis that a participant or beneficiary would otherwise have been eligible for as of the general effective date described in subparagraph (A); and (ii) information as to the rights and remedies of plan participants and beneficiaries as well as how to contact the Department of Labor for further information and assistance, where appropriate. (C) Form and Manner Any notice under subparagraph (A)— (i) shall be provided in a form and manner prescribed in regulations of the Secretary of Labor; (ii) shall be written in a manner so as to be understood by the average plan participant. (3) Model notices The Secretary shall— (A) prescribe model notices that the plan sponsor of a composite plan may use to satisfy the notice requirements under this subsection