Motion Picture Industry Pension Plans

For every hour worked at a TAG contracted studio, the employer makes contributions to the Motion Picture Pension Plan in the name of each member artist. Those contributions are stipulated in our contract and bring participation in two pension plans: The Defined Benefit Plan (DB) and the Individual Account Plan (IAP). Members will never see a payroll deduction for these plans and inclusion is automatic.

Also available is The Animation Guild 401(k) Plan. This is an optional plan that is fully funded by the member through pre-tax deductions from their paychecks.

Summary Plan Description

The Summary Plan Description (SPD) is fully interactive has been organized to be easier to read and access. It is available in pdf format from the MPIPHP website at this link.

Defined Benefit Plan

The Defined Benefit plan is an annuity plan where upon retirement you will be paid a monthly annuity based on how many hours and years you worked under a union contract. You are fully vested in this plan after five qualified years with at least 400 hours worked in each year.

Individual Account Plan

The Individual Account plan is much like a traditional 401(k) plan in that upon retirement, you will have access to a pre-tax amount equaling the total contributions as well as any interest earned. You are vested in this plan after a qualified year with at least 400 hours worked.

The Animation Guild 401(k) Plan

The TAG 401(k) is is an optional plan that is fully funded by the member. It is a no match plan where a member can contribute 2% to 40% per paycheck, up to the annual maximum set by the IRS. There are a variety of index funds and managed accounts to choose from including PIMCO, Vanguard and T. Rowe Price.

For more detailed information on the Guild 401(k) plan, visit the TAG 401(k) section on the Benefits Page

Breakdown

What is it?

Defined Benefit Plan

A pension plan that will pay you a set monthly check after retirement.

Individual Accounting Plan [IAP]

An account in which money is deposited, which builds up over time.

TAG 401K Plan

An optional savings plan allowing members to make tax-deferred savings contributions.

Who puts money into it?

Defined Benefit Plan

The employer.

Individual Accounting Plan [IAP]

The employer.

TAG 401K Plan

You (participation is voluntary).

How much money goes into it?

Defined Benefit Plan

$1.6265 for every
hour worked.

Individual Accounting Plan [IAP]

6% of the weekly minimum rate, plus

A portion of residuals and supplemental markets, plus

Unclaimed vacation and holiday pay.

TAG 401K Plan

At the participant’s choice anywhere from 2% to 40% of your weekly check.

Contributions to 401(k)s have a cap set annually by the IRS. Participants over 50 can contribute additional amounts also capped annually by the IRS.

When will I be vested?

Defined Benefit Plan

After five qualified years (at least four hundred hours per year). Since all our plans are multi-employer, the time spent at any union shop counts towards your vesting.

Individual Accounting Plan [IAP]

After one qualified year (at least four hundred hours).

TAG 401K Plan

Immediately.

What will I collect when I retire?

Defined Benefit Plan

The “defined benefit” is based on the total number of qualified years and hours that you worked in the industry. The more years and hours you work, the higher your monthly check at the time you retire.

Individual Accounting Plan [IAP]

The IAP is paid as a single lump-sum payment or “roll-over” at the time of retirement. You get out what you put in, plus interest and a percentage of the “pot” (residuals, supplemental markets, etc.)

TAG 401K Plan

Participants enjoy substantial tax savings on a year-to-year basis. Payments are paid out at retirement, similar to the IAP (see left).

Who should I call for more information?

Defined Benefit Plan

(818) 769-0007,
(310) 769-0007
or toll-free (888) 369-2007.

Individual Accounting Plan [IAP]

(818) 769-0007,
(310) 769-0007
or toll-free (888) 369-2007.

TAG 401K Plan

(818) 845-7500 (the union office); ask for
Marta Strohl-Rowand.