Member Benefits
HOW Much is the Pension Fund going to pay me??
The current annual rate of return on contributions made is between 24 and 48%, depending on when you retire. The fund is insured under federal law by the Pension Benefit Guaranty Corporation. It costs musicians nothing to participate; it only takes five years to become vested, and it only takes $1500 in earnings covered by pension to accrue a year’s credit. The pension fund is a multi-employer fund, which means that all contributions made on your behalf are pooled into one account for you. Employers or leaders that have a collective bargaining agreement or have signed a participation agreement are eligible to make contributions on behalf of their musicians. If the leader is incorporated, he/she can have the corporation make contributions on his/her behalf. Get in on one of the best private pension funds around! Call the Local at 305/674-0210 for more information on how to participate.Write reply
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