Introduction
- The Entertainment Industry 401(k) Plan was created to provide Retirement Benefits for “Daily Hire” Union Members in the Entertainment Industry.
- The Entertainment Industry 401(k) Plan is the companion plan to the Entertainment Industry Flex Plan (health benefits) under the Entertainment Industry Benefit Plans umbrella.
- This plan is a self-directed plan. Each participant may choose between
the various investment options.
- Investment Advice (at no charge) is available to all Participants.
- There are no front-end or back-end loads (fees) for trades by participants in this Plan.
- The Plan accepts five different types of contributions:
- Employer Contributions (through a Collective Bargaining Agreement)
- Pre-tax Employee Contributions (through payroll deductions)
- After-tax Employee Roth Contributions (through payroll deduction)
- After-tax Employee Contributions (made directly to the Plan)
- Qualified Rollovers
- Within 1-2 days after receipt of contributions for a new participant, the Plan will send a welcome letter to the Participant with an “Enrollment/Beneficiary Form”. The letter will provide instructions on how to sign up for email delivery of account information. Email delivery enables participants to receive Plan Information more quickly, help the environment and save on administrative fees. The Enrollment/Beneficiary Form is used to designate a beneficiary as well as make investment elections.
- Once the participant’s “Enrollment/Beneficiary Form” has been received by the Plan, participants may set up voluntary withholdings from their payroll simply by calling our Member Services Department (provided this option is included in the Collective Bargaining Agreement (CBA)).
- Balances may be checked 24 hours a day through our website or by calling our toll-free number with a PIN (personal identification number). Investment elections may be changed over the phone with our Member Services Department.
- Participants receive quarterly statements from the 401(k) Plan detailing employer contributions and payments as well as investment activity and performance. Participants who elect email delivery of statements and notices receive a quarterly discount on their administrative fees.