Friday, November 08, 2013

TAG 401(k) Stats

Animation Guild trustees attended the TAG 401(k) Plan quarterly trustee meeting this past Monday; here is the most recent data:

Plan Statistics -- 9/30/2013

Total Plan Assets -- $192,667,738

Participant Contributions -- $3,323,487

Total Participants -- 2,397

Average Account Balance -- $80,379 ...

For members who are new or not paying attention, the Animation Guild participates in three different retirement plans.

The plans that are automatic are the Motion Picture Industry Defined Benefit Plan (an old-fashioned "Get Your Monthly Retirement Check" thing), and the Motion Picture Industry Individual Account Plan, which is a lump-sum, "Defined Contribution" pension. Both of these pensions are funded by signator studios.

Then there is the TAG 401(k) Plan, which is paid for by participants. We get complaints that there "is no match," but we point out that the TAG Plan is one of three pensions, and federal and state income taxes are deferred until participants pull money out during retirement.

This tax shelter isn't good enough for some members, but is for 2,397 of them.


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