On July 18, 2019, AFM Local 47 John Acosta on behalf of the entire Executive Board sent the following letter to AFM & Employers’ Pension Fund Trustees stressing the importance of considering the input of all musicians who are stakeholders, particularly those currently working and contributing to the Fund.
Dear AFM-EPF Trustees:
We write to you today with urgency as you deliberate and decide on cuts to the future benefits of thousands of participants and present and future retirees. We have no doubt that the decisions that lay before you weigh deeply on the collective conscious of the Board of Trustees, and we are certain that the obligations of your charge will prioritize the fastidious consideration of the impact these decisions will have on the lives of generations of musicians for many, many years to come. Continue reading
Is your AFM pension important to you? If you answered “yes,” please read on:
Earlier this year Congress established a bipartisan Joint Select Committee on the Solvency of Multiemployer Pension Plans. This Committee is tasked with producing legislation by Nov. 30, 2018 to address the dire solvency issues facing over 100 multiemployer pension funds across the U.S., including the AFM-EPF.
This Joint Select Committee represents the best chance yet to pass legislation that helps our Fund and protects your benefits and retirement security. However, proposed changes to the Butch Lewis Act would prevent the AFM-EPF and many other multiemployer pension funds from accessing the bill’s loan program.
The good news: There is still time to make our voices heard.
In their meetings with AFM-EPF Trustees, members of the Joint Select Committee universally stated that no legislative approach has been finalized, and there is still time for more ideas about fully and fairly addressing the crisis—and for more negotiation to attempt to reach a consensus.
However, it is still far from certain whether any proposed solution will garner sufficient bipartisan support in the Committee, let alone both houses of Congress.
There are just 21 days until the Joint Select Committee’s Nov. 30 deadline. Make your voice heard at this critical juncture: Continue reading
A message from RMALA:
Concerned about the future of our Pension Fund? You’re not alone. The question is — what can you as an individual do?
There is a U.S. Congress Joint Select Committee looking for a solution for pension funds like ours. We are not alone, and neither are you.
Our Pension Fund has created a page that gives you the tools to be heard.