Contribution Rate and Allocation Formula Changes, Effective July 1, 2019 for Employers Not Subject To Master Agreements

A small number of Employers have negotiated Employer contribution rates that are lower than the standard negotiated rates required under the Basic, Commercial, and Freelance Live and Tape Television Agreements (the “Master Agreements”). The Pension Plans were amended effective July 1, 2019 to provide that any Employers with a Collective Bargaining Agreement (“CBA”) already in effect as of such date that expressly provides for a lower Employer contribution rate than required under the Master Agreements shall continue making contributions at the same lower rate, and will continue to have contributions allocated in the same manner, until the expiration of such CBA.

After the CBA expires, the contribution allocation formula for these Employers will be adjusted going forward so that they contribute to the Basic Benefit Plan at the same rate as required under the Master Agreements. The balance of any contributions above that amount will be allocated to the Supplemental Benefit Plan.