Tag: AFM-EPF
-
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…
-
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…
-
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…
-
What Would Happen If The AFM-EPF Fails?
Pensions offer what may be the ideal source of retirement income. I have written a number of times about the critical status of the American Federation of Musicians Employer Pension Fund (AFM-EPF), a multiemployer pension plan which covers 50,000 professional musicians in America. Given that the Actuaries do not believe that their rehabilitation plan will…
-
AFM Pension Plan Slide Continues
Participants in the AFM Employers’ Pension Fund (AFM-EPF) received the annual funding notice and notice of critical status this week. Unfortunately, this year’s report is not good, and this notice does little to explain why. Each year, pension administrators are required to evaluate their plan’s “funded percentage” as a measure of the plan’s financial capacity.…
-
The AFM Pension Plan: What Every Musician Needs to Know
If you’re a professional musician in the US, you likely received your annual statement from the American Federation of Musicians Employers’ Pension Plan in the past several weeks. Musicians often have basic questions about the AFM Pension, in part, because the annual statement doesn’t tell you very much about your personal situation other than your…
