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SAG Pensions Still in Trouble

Shutterstock_51720013 The Screen Actors Guild pension plan is still considered "endangered," according to Variety. Trustees sent out notices to participants over the weekend saying the plan's funding is increasing, but not by much. Funding as of Jan. 1 was 77.49 percent, up from 76.25 percent on Jan. 1, 2009. Trustees assured that plans would not be taken away, saying "the plans reserves are adequate to pay for all benefits to participants currently receiving a pension." Bruce Dow, administrator of the pension plans, cited declining employer contributions and other factors as the reasons for the struggle during a membership meeting last October. In the past year, SAG's pension plan had to cut its accrual rates and raise the minimum earnings to earn a pension. 

Read the story at Variety. (subscription required)
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