Members of Hollywood’s below-the-line unions worked a record 100.5 million hours last year, but their underfunded pension plan has inched a little closer to “critical” status. Trustees of the Motion Picture Industry Pension Plan, however, stress that there’s no cause for alarm and that their members’ pensions are secure well into the future.
According to the plan’s latest funding notice, its funding level has dipped to 66.8% – bringing it closer to “critical” condition, which by federal law is anything below 65%, as measured by a plan’s assets divided by its liabilities.
It’s a new low for the Mpipp, which fell from 80.8% in 2015, to 76.8% in 2016, to 67.4% in 2017 – and now to 66.8% as of January 1, 2018, the last valuation date. The plan’s actuary, however, projects that it will be back to 80% funded by 2026 and 100% funded by 2032.
The record 100.5 million hours worked — based on employer contributions to the plan –is evidence that production here is booming,...
According to the plan’s latest funding notice, its funding level has dipped to 66.8% – bringing it closer to “critical” condition, which by federal law is anything below 65%, as measured by a plan’s assets divided by its liabilities.
It’s a new low for the Mpipp, which fell from 80.8% in 2015, to 76.8% in 2016, to 67.4% in 2017 – and now to 66.8% as of January 1, 2018, the last valuation date. The plan’s actuary, however, projects that it will be back to 80% funded by 2026 and 100% funded by 2032.
The record 100.5 million hours worked — based on employer contributions to the plan –is evidence that production here is booming,...
- 4/15/2019
- by David Robb
- Deadline Film + TV
Former Iatse Sound Local 695 business agent Jim Osburn is taking his fight against Iatse president Matt Loeb all the way to the Supreme Court, accusing Loeb of “stifling dissent” through “dictatorial tactics.” Loeb placed the Sound Local into trusteeship in February 2014 and removed Osburn from office just weeks after Osburn had been re-elected to a post he’d held on and off for nearly 30 years.
Osburn’s 42-page petition for a writ of certiorari (read it here), written by his attorney Sunny Wise, asks the high court to decide “whether stifling robust dissent without a true indicia of due process is tolerable when an International President cleverly imposes and quickly lifts a trusteeship after permanently removing only dissenting leaders from office.”
Two of the dissenters were Osburn and his longtime partner, Elizabeth Alvarez, the local’s former recording secretary, who also is a petitioner in the case.
Osburn’s blistering...
Osburn’s 42-page petition for a writ of certiorari (read it here), written by his attorney Sunny Wise, asks the high court to decide “whether stifling robust dissent without a true indicia of due process is tolerable when an International President cleverly imposes and quickly lifts a trusteeship after permanently removing only dissenting leaders from office.”
Two of the dissenters were Osburn and his longtime partner, Elizabeth Alvarez, the local’s former recording secretary, who also is a petitioner in the case.
Osburn’s blistering...
- 2/7/2019
- by David Robb
- Deadline Film + TV
Allegations of a union “shakedown” and “extortion” in the hallway of a Las Vegas hotel have been leveled against leaders of an Iatse local in New Orleans. The explosive charges, which only now have come to light, were made by Iatse Sound Local 695 business agent Jim Osburn at a hearing shortly before his North Hollywood-based union was placed into trusteeship in February. Osburn’s local was put on trial after leaders of Studio Mechanics Local 478 in Louisiana accused him of obstructing their efforts to collect so-called “assessments” on the wages of out-of-state workers who film in Louisiana. Typically, the local takes a 3% cut of their wages, which is permitted under the Iatse’s constitution and by-laws. Related: Hollywood Teamsters Boss Tells Drivers To Stop On-Set Fistfights Osburn, who has headed Local 695 on and off for most of the past 40 years, denied the obstruction charges and leveled some allegations of his...
- 5/16/2014
- by ERIK PEDERSEN
- Deadline TV
IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.