Limits the amount of salary the studios make into your pension and health contribution.
REAL LIFE EXAMPLE:
You are a series regular making $25k/episode on a half hour show, the employer only pays into the pension and health plan on your first $15,000 from your $25k/episode. Studios are paying 18% on top of your first $15,000. Two years later, you are not working but you receive thousands of dollars in residuals on that show. Because of the pension cap (a ceiling on the amount the employer contributes to the performer’s P&H), no employer contribution will be made on your residuals earnings and you will not qualify for health coverage. Also, even though the residual money doesn’t qualify you for health coverage, you’re still expected to pay SAG-AFTRA dues on that money in order to be in good standing with the union. That doesn’t seem fair, does it?
The pension caps are as follows:
In half-hours it’s $15,000.
In one-hours it’s $24,500.
These pension caps were put in place in 1982, when $15,000/episode was a realistic number. Thirty-eight years later, there has been no raising of these pension caps which completely undervalues the market place. Prior to 1982, the pension caps would increase (one time even doubled) every 3 years.
When an employer contribution ceases to be made because the pension cap has already been met, the performer will not be able to qualify for benefits from that past work.
It will be 41 years of no pension cap increases by the next negotiation. Our pension is already in trouble and not raising these pension caps makes it challenging to ensure the pension will be available for the younger actors.
#VoteNO #SendItBack #KeepemZooming #RaiseTheCaps #ProtectMyFuture