Category: AFM-EPF
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Disability and The Musicians’ Pension
Are you no longer performing due to injury or disability? If you are a participant in the Union Pension, the AFM-EPF, you should know about the plan’s disability benefits. The reason why a disability pension is more desirable than a retirement benefit today is that under the ERISA rules, the pension cannot reduce payments for…
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Musicians’ Pension to Cut Benefits
On May 24, the AFM Employers’ Pension Fund (AFM-EPF) announced that the plan has entered Critical and Declining status and would be applying to the Treasury Department for authorization to cut benefits to its 50,000 participating professional musicians and beneficiaries. The plan is calculated to fail in less than 20 years, including anticipated future contributions…
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Musicians over 65: Start your Pension Before it is Reduced
This week, the trustees of the Musicians’ multi-employer pension, the AFM-EPF, announced that the fund “will likely enter ‘Critical and Declining’ Status in 2019”. A musician friend, who recently turned 65, asked me if there was anything we could do. If the plan enters Critical and Declining status, it means that the fund is going…
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What is Critical and Declining Status?
If you are a participant in the Musicians’ Union Pension, the AFM-EPF, you may have received an email this week that said that thanks to good investment performance, the plan would remain in Critical status but not move into “Critical and Declining” status. The message notes that it is still possible that the plan will…
