In addition to health insurance coverage, one of the great benefits of working at a studio covered by the TAG union contract are the retirement benefits you have access to.
What pension plans do TAG members have?
The Animation Guild, Local 839 is actually connected to three retirement plan accounts. Two accounts are automatic and entirely employer funded. You get both of the employer funded benefit accounts without needing to enroll as long as you work long enough to become “vested”. These automatic benefits are administered by the Motion Picture Industry Pension and Health Plan (MPIPHP). When you began working under The Animation Guild jurisdiction, your employer should have automatically started reporting your hours and sending in contributions toward both your Pension and your Individual Account Plan (IAP), as well as paying for your current health insurance coverage.
What is TAG’s 401k plan?
The TAG 401k Plan is a third retirement savings plan. This is not automatic. It’s a separate option TAG offers its members and is entirely funded by member contributions with no employer “match.” The TAG 401k Plan is a great option to save retirement money without worry about “vesting.” It’s your money no matter what happens.
Have you checked on your 401k contributions lately?
The TAG 401k Plan is NOT automatic. It requires input to get started (see special note below regarding “auto enrollment” events) and to continue running smoothly. If you have a TAG 401k, please check your 401k deductions and 401k account often to ensure everything is correct. TAG has no control over the studios and payrolls, and TAG cannot monitor each participant’s contributions. Because of this, there is no way to automatically arrange the TAG 401k to follow you from show to show and studio to studio. Even a short break in work on a show or a change in pay scale can disrupt contributions, and there are many other payroll issues that can affect the 401k setup. The Animation Guild’s role is as the “Plan Sponsor,” and TAG is responsible to the IRS and DOL. Studios are not allowed to interfere with 401k setup.
Note: “Auto-enrollment” can occur when a studio chooses to put everyone who is eligible into the TAG 401k Plan as a special enrollment event for the first payroll of a year. These events are planned in advance and notices go out to the affected people. Individuals can choose to opt out. It will not “auto enroll” employees of those studios before or after the event date, and only participating studios are affected by auto-enrollment.
Don’t have a 401k account yet?
If you wish to enroll in the TAG 401k Plan and have deductions taken out of your paycheck, we need a signed document authorizing that change to your paycheck. Forms and information can be found on The Animation Guild website on the following pages:
https://animationguild.org/benefits/401k-forms/
https://animationguild.org/benefits/401k-get-started/
Need to see your MPI benefits?
The Animation Guild does not have direct access to your records at MPIPHP. For more details or information about current records, eligibility status, and retirement funds set aside on your behalf, you would need to contact MPIPHP directly by phone 855-275-4674 or online at mpiphp.org. On the mpiphp.org website you can setup a log-in that will give you access to the reported history, retirement account totals, and eligibility/vesting status.
For basic information about how the MPIPHP plan works, visit the following pages on The Animation Guild website: