For every hour worked at a IBEW Local 40 signatory studio, the employer makes contributions to the Motion Picture Pension Plan in the name of each member. Those contributions are stipulated in our contract and bring participation in two pension plans: The Defined Benefit Plan (DB) and the Individual Account Plan (IAP). Members do not see payroll deductions for these plans and inclusion is automatic.
The Defined Benefit plan is an annuity plan where upon retirement you will be paid a monthly annuity based on how many hours and years you worked under a union contract. You are fully vested in this plan after five qualified years with at least 400 hours worked in each year. $1.80 is put in the pension plan for every hour worked under this agreement.
The Individual Account plan is much like a traditional 401(k) plan in that upon retirement, you will have access to a pre-tax amount equaling the total contributions as well as any interest earned. You are vested in this plan after a qualified year with at least 400 hours worked. 7% of your scale Regular Basic Hourly Rate of pay, plus any unclaimed vacation is put into your IAP.
Plan Office Address:
11365 Ventura Boulevard
Studio City, CA 91604-3161
Pension Department Mailing Address:
MPI Health Plan
P.O. Box 1999
Studio City, CA 91614-0999
Pension Phone Information:
Phone: (818) or (310) 769-0007
Toll Free: (888) 369-2007
Fax: (323) 877-2223
Questions on Pension Please Call:
(818) 769-0007 Ext. 627
This guide was prepared by Local 40, and provides reference material and information on retirement from the motion picture industry, for members of Local 40 who have worked under the Motion Picture Agreement. If you have any additional questions regarding your pension, you can contact the hall for information or visit the MPI Pension tab for MPI contact information.