Tuesday, September 04, 2007

What's in your pension statement

The Motion Picture Industry Pension and Health Plan has started sending out statements to Plan Participants (later than usual, but what the hey. They're being sent.)

Some folks have already received their new statements, which cover pension contributions through December 2006. The statement shows:

  1. Your estimated monthly defined benefit, based upon the hours and qualified years worked in your career at union-shop employers. The Defined Benefit needs five qualified pension years to vest. As long as you continue working and earning hours and qualified years, this estimate will increase.
  2. Your Individual Account Plan accrual. This is a lump-sum amount that is vested after one qualified pension year.

If you have any questions about the statements, call (818) 769-0007 or (310) 769-0007 [outside southern California toll free (888) 369-2007], extension 627.


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