Summary Plan Description - afm-epf.org The Administrative Committee may limit the pension benefit that is payable to you, including by placing a hold on some or all of the benefit, during any period after the Fund receives notice that a QDRO will be entered or while the Fund is determining whether an order satisfies the QDRO requirements in the Internal Revenue Code and the Funds rules. Additional information about the PBGCs pension program is available through the PBGCs website on the Internet at www.pbgc.gov. The Fund and Plan are administered by a joint Board of Trustees consisting of Union representatives and Employer representatives with equal voting power. employment after your Pension Effective Date with any Employer who contributes to the Fund. Fund assets will be applied to provide benefits in accordance with the applicable provisions of federal law. Confirmation of Retirement with Your Employer. will be considered not to have retired. Email: Contact Us on Funds website The maximum benefit that the PBGC guarantees is set by law. You can also make a written request for an estimate to the Fund Office. Click here to download a high-resolution PDF version of the graphic above Total Disability It is meant to help you understand how the Plan works and the benefits it provides, but it neither replaces nor amends the Plan. The annual dollar limit on the Covered Earnings that may be used in calculating pension benefits is $245,000 from each Employer. and before age 65. became vested. If a survivor benefit is payable after your death, a Death Benefit Application must be completed. afm pension eligibility afm pension eligibility. The group of individuals who operate the Fund and Plan, consisting of Union representatives and Employer representatives with equal voting power. If your pension is stopped because the Fund determines that you did not retire, you will be required to repay to the Fund any pension payments that were made and you will need to reapply to receive a pension in the future. If you need to speak with someone, call our local Seattle office or get in touch with the AFM-EPF: Maureen Kilkelly (212) 284-1200 or 1-800-833-8065 mkilkelly@afmepf.org The Fund Office determines that it is complete, and then prepares and sends him Part 2 of the Application (Choice of Benefit Payment Options form and spousal consent form). The Fund will begin to investigate your claim as soon as a complete Covered Employment Correction Claim form and all required documents are received within the applicable time limits. The pre-June 1, 2010 rules continue to apply if the Participants Pension Effective Date was prior to June 1, 2010, and his or her pension benefit is based, at least in part, on contributions earned prior to January 1, 2004. June 1, 2010, and is generally applicable to pension benefits that have not yet begun to be paid as of that date. Please also be advised that, in accordance with applicable law, you have the right to bring a civil action under ERISA if the Administrative Committee denies your claim on appeal, but only if you (i) have exhausted the claims and appeals procedures established by the Fund (including, without limitation, filing an appeal within the time period described above), and (ii) bring your action within one year after the Administrative Committee makes its decision on your appeal. to know the factor to apply, contact the fund office. Five consecutive One-year Breaks in Service. you get divorced after your Pension Effective Date), he or she will receive a survivor benefit equal to 50% of your monthly benefit for the rest of his or her life. One major development we missed last week amid the orchestra compensation reports was the class-action lawsuit filed against a host of defendants associated with the American Federation of Musicians & Employers' Pension Fund (AMF-EPF). If the forms are received at the Fund Office after June 15, but before July 16, his Pension Effective Date will be August 1. In 2011, you had one engagement with Covered Earnings of $440 (which was not enough for your active participation to start again in 2011) and you had no further Covered Employment until 2012, when you earned $1,625 in Covered Earnings. Contact the Fund Office for a statement of any A Retirement Account Benefit (RAB) is a benefit based on qualified contributions credited to you before 1968. Plan Participants are neither required nor allowed to make contributions to the Fund on their own behalf. Dons monthly benefit paid in the form of a 50% Joint and Survivor Benefit is $751.35, calculated by adding the benefits earned during each Benefit Period and reduced by the 50% Joint and Survivor Benefit reduction factor as follows: If Don dies before his Spouse, she will receive monthly payments of $375.68 ($751.35 x 50%) for the rest of her life. Her Beneficiary will receive the same monthly benefit that he would have received as a Joint Annuitant if, instead of dying, Sara had begun receiving a 50% Joint and Survivor Benefit actuarially reduced to age 51 starting the month after her death and died the next day. Become a Member Contact Phone Numbers, by Department: AFM members: click here for AFM staff e-mails. (If you are Married, special rules apply.) Beneficiary (if you are not Married) on the date of your death. Mailing Address PO Box 2673 New York, NY 10117-0262 For more information, see the section describing Breaks in Service beginning on page 8. record at the Fund Office determines who will be the Beneficiary of your However, the Fund will comply with a Qualified Domestic Relations Order (QDRO) that gives someone else a right to all or a portion of your benefit, a federal tax lien, or any offset resulting from certain breach of fiduciary duty permitted under Section 401(a) (13) of the Internal Revenue Code. American Federation of Musicians and Employers Pension Plan. Appendix B on page 69. The table below shows the percentage reductions in the Disability Pension Benefit paid as a 50% Joint and Survivor Benefit from the Single Life Benefit form of benefit payment for up to a 10-year difference in age between you and your Joint Annuitant: If the age difference between you and your Joint Annuitant is greater than 10 years, and you would like Because he is age 66 and 3 months at his Pension Effective Date, his monthly benefit is adjusted to $1,109.37 to account for the fact that his benefit did not begin to be paid at You earned a year of Vesting Service in both 2005 and 2006. of a child) before you begin to receive your pension, its important to review your In 2005, you earned $2,000. Mailing Address: P.O. If you are Married at your Pension Effective Date, the normal form of payment is a 50% Joint and Survivor Benefit, with your Spouse as the Joint Annuitant. If you retire and begin to receive monthly pension benefits, you will continue to receive your Initial Pension Benefit even if you later have additional contributions made to the Fund for additional Covered Employment or for the new use or re-use of previously recorded work. Examples of steady employment include: This is not an exhaustive list of types of steady employment. The Fund Office may make a reasonable charge for the You may designate up to three people (or if greater, the number of your natural and adopted children) as primary Beneficiaries of your Pre-retirement Death Benefit. It varies with the Participants age and the year in which the Contributions were credited. You are neither required nor allowed to The Plan is a defined benefit pension plan. before or after Covered Employment for the same Employer. A decision by the Fund that you have not in fact retired may be appealed under the claims and appeals procedures described below. The Benefit Multiplier has changed over time. The Fund Office determines that it is incomplete and asks Matthew for the information and documents needed to complete Part 1 of the Application. Protect Our Pensions Urge Your Senators to Pass Pension Legislation The U.S. House of Representatives passed the Butch Lewis Act in July. amount feature (if paid as a Single Life Benefit). Your Initial Pension Effective Date was January 1, 2007 at age 59. Vesting Service end of a season, you perform. Amounts recovered may include interest and costs. The Board of Trustees has delegated certain administrative and operational functions to the staff of the Fund Office. Our AFM-EPF pension plan is one of over 100 multiemployer union pensions in critical status because of aging demographics, declining participation, and reduced contributions. Your participation starts on January 1 of the year in which you first earn at least $750 in Covered Earnings, for which you are also entitled to one quarter-year of Vesting Service (see page 7). See, Pension benefits with a Pension Effective Date before June 1, 2010 may include a guaranteed The Death Benefit Application can be downloaded from the Applications and Forms section on the Funds website at www.afm-epf.org, or may be requested by contacting the Fund Office. New York, NY 10117-0262, Customer Service If your appeal is received at least 30 days before the next regularly scheduled meeting of the Administrative Committee, the Administrative Committee will generally review and make a decision on your appeal at that meeting (unless special circumstances require the Administrative Committee to extend its time to respond, in which case, your appeal will be reviewed and the Administrative Committee will make a decision on your appeal at the second meeting following receipt of your appeal). A Disability Pension Benefit is paid in the same forms and subject to the same rules as a Regular Pension Benefit, as discussed on pages 16 - 22, except that the reduction for the 50% Joint and Survivor Benefit or 75% Joint and Survivor Benefit form of benefit payment is calculated differently. If a direct rollover of any amounts eligible for a direct rollover is not elected, current federal tax laws require the Fund Office to withhold 20% of the payment for federal tax purposes. If you die after your pension benefit begins, the benefit that is payable upon your death, if any, depends on the form of benefit payment you elected at your Initial Pension Benefit Effective Date and/or your Your Employer makes all contributions to the Fund. Agreements, and a copy of the latest annual report (Form 5500 Series) filed by the Fund with the U.S. Department of Labor and available at the Public Disclosure Room of the Employee Benefits Security Administration (formerly the Pension and Welfare Benefits Administration). Because you AFM-EPF Site Map See Appendix A on page 67. Any additional benefits will be calculated Because you had five consecutive One-year Breaks in Service (2007 through 2011) you have a Permanent Break in Service. The Emergency Pension Plan Relief Act of 2021 outlines solutions . Recently we saw some inflammatory headlines: "Trustees Target the Most Vulnerable Musicians" and "Trump Administration is Kinder to Disabled Musicians Than Our Trustees." The US Department of Labor (DOL) did release some new regulations recently. This SPD also reflects changes to the Plan since 2010. In no case will the form of benefit payment for your Initial Pension Benefit be changed when a Re-determination Benefit is payable. The Pre-retirement Death Benefit will be paid: If your Spouse or Beneficiary applies for the death benefit in time for it to begin to be paid within six (6) months after the first day of the month following your death, the death benefit will be paid retroactive to that date. Contributions on wages for new use or re- use are generally considered to be earned on the date that the new use or re-use occurred. As a Participant in the Plan, you are entitled to certain rights and protections under the Employee Retirement Income Security Act of 1974 (ERISA). If his Spouse dies before Don, If your distribution is considered an eligible rollover distribution, (as determined under the Internal Revenue Code) you (or, upon your death, your Spouse, if he or she is your Beneficiary) may elect to have it transferred directly from the Fund to a traditional Individual Retirement Account or to another eligible retirement plan that accepts rollover distributions. The notice will describe the specific reason or reasons for the denial, the Plan provisions on which the denial is based, Disability. Joint Annuitant is 19 years or less. contribute. Fund, as amended, hereby adopt the following amended and restated American Federation of Musicians and Employers' Pension Plan (the "Plan"), effective as of January l, 2014 (unless another effective date is otherwise specified herein), for the exclusive benefit of eligible employees of contributing employers to the Fund and their beneficiaries. If you have any questions about this statement or about your rights under ERISA, or if you need assistance in obtaining documents from the Fund Office, you should contact the nearest office of the Employee Benefits Security Administration, U.S. Department of Labor, listed in your telephone directory, or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, DC 20210. your Employer has entered into a Collective Bargaining Agreement acceptable to the Board of Trustees requiring the Employer to contribute to the Fund Under the multiemployer plan program, the PBGC provides financial assistance through loans to plans that are insolvent. If your family status changes (a marriage, divorce, death, or the birth or adoption For most purposes under the Plan, an Employer includes related entities that are part of the same control group. If Matthew returns the completed form, and it is received at the Fund Office on or before April 15, Matthews Pension Effective Date will be May 1. be answered by the Fund Office staff. Your change in status will not automatically result in a Benefit Multiplier continued to vest under the pre-2004 schedule, you received an additional full year of Vesting Service in 2005 and you If your mailing address is displayed correctly, click the box next to, If you would like to change your mailing address, click the. The Board of Trustees has the sole and complete authority and discretion to interpret the Plan and make final determinations regarding its provisions. Joint Annuitant to comply with a request by the Administrative Committee that you undergo a medical examination or provide other evidence to confirm the continuation of your Total Disability. You can obtain, upon written request to the Fund Office, copies of documents governing the operation of the Plan, including Collective Bargaining A special rule applies for purposes of crediting contributions consisting of tax-relief monies that are made on behalf of musicians working on Broadway productions in accordance with the arbitration award of Burton Turkus dated April 26, 1963. Lauren returns the completed forms, and they are received at the Fund Office before June 15. Thursday March 18th, 2021 On Wednesday, March 17th, AFM-EPF Trustees agreed to withdraw the pending Multiemployer Pension Reform Act (MPRA) application. For your convenience, a Pension Estimator is available to Participants who are registered on the Funds website at www.afm-epf.org. If you begin to receive your pension benefit at Normal Retirement Age and continue working in If you, your Spouse or Beneficiary fails to submit the requested information or proof, makes a false statement or furnishes fraudulent or incorrect information, or if your Employer provides incorrect information, or if the Fund determines that any other error has been made in the determination or calculation of your benefits, you, your Spouses or Beneficiarys benefits under the Plan may be negatively affected, and benefits may be denied, suspended or discontinued. When inaccurate information is provided, this ultimately can result in the improper use of Plan assets, which adversely affects the ability of the Plan to provide the highest possible level of benefits. before you do, You will be considered to be retired only if you meet all of the following requirements: Your Pension Effective Date is the first day of the first month for which you receive your pension benefit. If the Plan is amended or terminated, the ability of any person to participate and receive benefits from the Plan may be modified or terminated. Note that whatever form of benefit payment you select for your Re-retirement Pension Benefit will also apply to any Re-determination Benefits that you may earn in the future. Pension update | Local 802 AFM A Regular Pension Benefit or a Disability Pension Benefit. For this reason, you should consult a professional tax advisor to fully understand the tax consequences of any Fund distributions, direct rollovers, and for information about your personal tax situation. If you stop working in Covered Employment. Participant Jordan dies at age 57. These documents are all referred to throughout this booklet as Collective Bargaining Agreements. *The factor is for the Plan Year beginning 4/1/2013. *Total benefits paid from Initial Pension Effective Date to the month before the Re-retirement Pension Effective Date. No individual other than the Board of Trustees or its duly authorized designee(s) has any authority to interpret the Plan documents, including this SPD or the other official Plan documents, or to make any promises to you about the Plan or your benefits under the Plan, or to change the provisions of the Plan. Your Pension Effective Date will not change if there is an administrative delay in processing your benefits. Sara dies at age 51. Normal Retirement Age is your 65th birthday or, if later, the date on which you complete five years of participation (not including any years of participation before a Permanent Break in Service) on or after April 1, 1988. same monthly benefit that he or she would have received as a Joint Annuitant if, instead of dying, you left Covered Employment on your date of death and began to receive a 50% Joint and Survivor Benefit at your age on the first of the month following your date of death. Your pension benefits under this multiemployer plan are insured by the Pension Benefit Guaranty Corporation (the PBGC), a federal insurance agency. If your Initial Pension Benefit began before age 65, and you return to Covered Employment and you earn $50 or more of contributions in at least one calendar year between your Initial Pension Benefit Effective Date and your 65th birthday, a benefit based on contributions made on your behalf during that period may be paid as of the first of the month after your 65th birthday. determine the standard of proof required in any case. when Part 1 of the Pension Application is complete; if you are not eligible for a pension benefit; or. This benefit is called a Re-retirement Pension Benefit. any additional information or material that you might need to provide in order to support your application and an explanation of why it is necessary, and the Plans review procedures. Please refer to the accompanying article, Applying for Your Pension Benefit - The Two-Part Application, for more information. The same pro rata method will apply to the alternate Beneficiary(ies) if there is no surviving primary Beneficiary. See, If your pension benefit was being paid as a 75% Joint and Survivor Benefit, your Joint Annuitant will receive 75% of your monthly benefit for life. Order by: price low to high price high to low newest first. Joint and Survivor Benefit form of payment. How a Regular Pension Benefit is Calculated on page 14 for calculation details. If you have any questions about your Plan, you should contact the Fund Office. take all actions and make all decisions with respect to the eligibility for, and the amount of, benefits payable under the Plan; formulate, interpret and apply rules, regulations and policies necessary to administer the Plan; resolve and/or clarify any ambiguities or inconsistencies arising under the Plan, including this Summary Plan Description, the Trust Agreement or other Any collective bargaining, participation, or other written agreement acceptable to the Board of Trustees requiring an Employer to make contributions to the second month following the Pension Effective Date. See contact information on page 70. If the Plan is terminated, you will be vested in any benefit you have accrued to the extent then funded. You will become an Inactive Participant in any calendar year in which you earn less than $750 in Covered Earnings. P.O. If you provide false information to the Fund or commit fraud, you may be required to indemnify and repay the Fund for any losses or damages caused by your false statements or fraudulent actions. Total area 550 m Land area: 3,000 m 5 bedrooms 4 bathrooms. Contact the Fund When you turn 65 on June 24, 2012, you are eligible for a Re-retirement Pension Benefit on July 1, 2012. If your claim for a pension benefit is denied or ignored, in whole or in part, you have the right to know why this was done, to obtain copies of documents relating to the decision without charge, and to appeal any denial, all within certain time schedules (as previously detailed on Appendix A on page 67 .). Covered Employment American Federation of Musicians The American Federation of Musicians of the United States and Canada ( AFM / AFofM) is a 501 (c) (5) [3] labor union representing professional instrumental musicians in the United States and Canada. A Re-retirement Pension Benefit is available in the same payment forms as a Regular Pension Benefit (see pages 16-22). Generally, the maximum annual benefit that can be paid to you each year is $195,000. If you return to work after your early retirement Pension Effective Date, you will continue to receive your early retirement pension unless you returned to work before the applicable two calendar months described above, or unless the Fund otherwise determines that you were not in fact retired as of your Pension Effective Date. You received a one-quarter year of Vesting Service for each $375 of Covered Earnings during a calendar year (up to an annual maximum of one year of Vesting Service) as follows: This schedule continues to apply if you had three or more years of Vesting Service as of December 31, 2003 (unless you have a Permanent Break in Service after 2003 and before you are vested). Regular Pension Benefit Example 1: **Because the Initial Pension Effective Date was before 6/1/2010, the factor used to determine the actuarial equivalent value of the Benefit Period A portion of the benefit is the age 65 factor for the Plan Year beginning 4/1/2010. INTRODUCTION The American Federation of Musicians and Employers' Pension Plan, or simply the Plan, is designed to provide you with a pension benefit for your retirement years. The statement is free of charge. AFM-EPF Announces Benefit Reductions Will Not Be Implemented If you die before your Initial Pension Benefit begins and you are vested, your Spouse (if you are Married at the date of your death) or other Beneficiary (if you are not Married at the date of your death) will be eligible for a Pre-retirement Death Benefit based on all the contributions If your Pension Effective Date would be more than 180 days after you were provided with Part 2 of the Pension Application, then your application will expire, and you will need to begin the application process again by completing and returning a new Part 1 of the Pension Application. Beneficiary). The Board of Trustees, however, has the authority to amend or terminate the Plan at any time and for any reason. Employment with an Employer for which the Employer is required to make contributions to the Fund. The PBGCs maximum guarantee limit is $35.75 per month times a participants years of service. But now, if we all stand together in unison as AFM members, we can change that. The amount of your monthly Regular Pension Benefit as a 50% Joint and Survivor Benefit depends on the age difference between you and your Joint Annuitant. You received a one-quarter year of Vesting Service for each $300 of Covered Earnings during a calendar year (up to an annual maximum of one year of Vesting Service) as follows: Participation in the Plan required $375 in Covered Earnings in a calendar year. For more information on QDROs, or to receive a copy of the procedures the Fund follows in determining whether an order is qualified and the model QDROs, contact the Fund Office. There are 44 million Americans who are at present eligible or will be eligible for a defined benefit pension, hardly what I would call extinction. Rehearsal Space Rental Box 2673 If you die without having named a primary or alternate Beneficiary on the Funds beneficiary form and you are not married, or if there is no Beneficiary living on your date of death, no Pre-retirement Death Benefit will be paid. if additional items are needed to complete Part 1 of the Pension Application. If you do not have your birth certificate or marriage certificate, you may be able to request them from the office of vital statistics in the state where you were born or married. If your Spouse or Beneficiary does not apply for the death benefit in time for it to begin to be paid within six (6) months after the first day of the month following your death, no retroactive payment will be made. Being "fully vested" means that a participant has earned a right to a regular pension that can only be cut according to procedures set forth by MPRA. A QDRO is a court domestic relations decree, order or judgment issued pursuant to state domestic relations law and relating to the provision of child support, alimony or marital property rights that recognizes or creates your Spouses, former Spouses, childs, or other dependents right to (or assigns such person the right to receive) all, or a portion of, your benefits under the Plan. Participant Information Participant Information Click on the headers below to expand the document lists.