Union representatives from IATSE unions and guilds near and far ended their attendance at the week-long IA executive board sessions yesterday afternoon. I won't regale you with all the thrills and chills that occurred Monday through Thursday, Instead, here's a couple of quick snapshots of the proceedings:
1) Contract negotiations have been tough for unions and guilds over the past seven months. There was a string of reports detailing how broadcast companies, stage companies, and movie production companies are playing hardball and insisting on rollbacks from employees working under union contracts. Happily, most unions report that they've been able to negotiate 1.5% to 3% yearly increases in their contracts, but it's been anything but easy.
2) Report on The Motion Picture Industry Pension and Health Plan (where TAG members get health coverage and pension benefits):
*The Plan now has $4.8 billion in total assets (up form $4.65 billion at the end of '08)
* Investment assets in the Defined Benefit Plan are up 3.2% for the year. (They were down last year.)
* Investment assets in the Individual Account Plan are up 2.7% for the year. (These were also down last year. There's a surprise.)
* There are currently 121,000 participants in the Plan (Actives, Dependents, and Retirees.)
* The Plan has 11.2 months of reserves for active participants; 17 months of reserves in the retiree accounts. The Plan enjoys the highest rating from the Fed ('green") for overall financial health and viability. ( And what are some of the lower ratings? "Orange," "yellow" and ... wait for it ... "red.")
There were other reports and presentations, but I won't share them here, since I don't want to wear your eyeballs out or have my fingers get too tired.