Showbizreporting's Blog

September 11, 2009

SAG P & H Plans

Fellow SAG Members,

You’ve just received the latest edition of TAKE 2, the newsletter of SAG’s Pension and Health Plans, and like me, you were probably troubled by what you read:

“According to federal guidelines established by the Pension Protection Act of 2006, the [Pension] Plan is in the orange zone and considered to be seriously endangered.”

“So far this year, contributions generated from employment-based earnings are down 10%. This represents the largest drop in plan history and does not account for the full impact of the decrease in SAG-covered television pilots, which has yet to be realized.”

HEALTH INSURANCE PREMIUMS GOING UP
You also read that starting January 1st, our Health Insurance premiums are going up: 66% higher for Plan One, 50% higher for Plan Two, and 92% higher for Plan Two “age & service” coverage. And for the first time in the Plan’s history, all Senior Performers will now have to pay monthly premiums.

PENSION ACCRUAL RATE COMING DOWN
The funding decline of our Pension Plan means that corrective action must be taken, or “the Pension Plan could enter the red zone, (the most critical status under the PPA) and risk a funding deficiency under federal law, which would require even stronger action to correct.” As a result, effective Jan. 1, 2010, the pension accrual rate will be lowered from 3.5% to 2.0%, a drop of 42%.

This is very serious news, but it’s equally important to point out that these reductions do not apply to any pension you are currently receiving, or any benefits you have already accrued. By taking action now, the Plans will preserve their ability to pay those promised benefits.

However, as the Plan Trustees noted in their newsletter, the outlook for future benefits is less secure.

Investment losses hurt benefit plans across the country last year, including SAG’s – even though the Guild’s plans fared better than most in that regard. But earnings-based contributions have suffered their worst drop ever, and this does not reflect the future effects of SAG covering only 10% of the 2009 TV pilots. The cost of the decision last year to fight with AFTRA rather than partner with them on our biggest contract negotiation has already been deeply felt, but it hasn’t been fully realized yet.

YOUR VOTE WILL DECIDE WHAT HAPPENS NEXT
I support my family as an actor and I couldn’t do it without solid health insurance and the expectation of a secure pension when I retire. Many of you are in the same boat… but even if you’re not, we all understand just how crucial those benefits are.

Will we go back to fighting with AFTRA and further endanger our benefit plans? Or will we unite with AFTRA to increase our bargaining power and strengthen the security of our health and pension benefits? This election will determine our course.

It’s clearer than ever that we cannot go back to the go-it-alone approach. That’s why I’m asking you to vote for Ken Howard, Amy Aquino and me, along with all the other UFS board candidates. And please spread this message to every SAG member you know. It has never been more important to make sure that all your friends and colleagues vote.

Respectfully,

Ned Vaughn

For more information about our candidates and to see all the UFS videos, please visit http://www.UniteforStrength.com

**UNITE FOR STRENGTH VOTING GUIDE**

President – KEN HOWARD
Secretary-Treasurer – AMY AQUINO

Board of Directors – Please vote for ALL 33 board candidates below. DO NOT vote for more than 33 board candidates or your ballot will not be counted.

1 – Michelle Allsopp
6 – Patrick Fabian
9 – Jason George
10 – Dawnn Lewis
11 – Woody Schultz
12 – Michael O’Keefe
14 – Clark Gregg
19 – David Lawrence
20 – Amir Talai
21 – Doug Savant
22 – Dule Hill
23 – Clyde Kusatsu
25 – Tim DeKay
28 – Assaf Cohen
34 – Scotty Caldwell
35 – D.W. Moffett
39 – Mandy Steckelberg
40 – Richard Speight, Jr.
43 – Jenny O’Hara
52 – Gabrielle Carteris
55 – Hill Harper
57 – Bill Smitrovich
58 – Bob Bergen
59 – Ned Vaughn
60 – Nancy Travis
62 – Gregory Itzin
64 – Ellen Crawford
67 – Stacey Travis
73 – Christian Clemenson
74 – Conrad Palmisano
75 – Richard Fancy
81 – Marcia Wallace
82 – John Carroll Lynch

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