Thursday, April 08, 2010

The IA-AMPTP Meeting

I've just returned from what has come to be known as "The IA-AMPTP Quarterly Cooperative Meetings," which an unnamed wit in the union caucus room described this way:

"The IA-AMPTP Quarterly Cooperative Meetings are neither quarterly nor cooperative ...."

Be that as it may, we had an extensive review of the Motion Picture Industry Pension and Health Plan, with a Power Point presentation showing cash flow projections and where the trust funds might be two or five years from now.

But here are some of the numbers that should interest you if you're a participant in the industry health and pension plan:

2009 Metrics -- Motion Picture Industry Pension and Health Plan

* 241 Employees

* $27.3 million Operating Budget

* 2,505 Employer Contracts Reviewed

* 1.2 million Health Claims Processed

* $536 million Paid in Health Care Expenses

* .8% of Participants Incur 28% of All Health Costs

* 500,000 Participant and Provider Telephone Inquiries

* $5.2 billion in Assets under Management

* $264 million in Pension Plan/ IAP Payments

For factoid fans, the MPIPHP came into existence on October 26, 1953 and started paying out pensions on January 1, 1960.

There are approximately 53,000 active participants; with dependents included, the health plan covers 120,000 people.

Relatively speaking, the Motion Picture Health Plan is in the strongest position of any of the union and/or guild plans now extant in Hollywood.


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