If I participate in the 401(k) Plan, can I use the Pension and Health Forms to report the earnings and contributions?
Thers is a combined Form for reporting the earnings and contributions of the Pension, Heatlh adn 401(k) Plans. Please contact the Fund Office and we will be happy to mail you a supply. The forms are also available on an Excel spreadsheet. You may also download thde forms online.
When reporting the salary for a performer who is a corporation, can I use the federal tax identification number for the corporation?
No. You must use the participant's Social Security Number.
Can I use one Report Form to submit the earnings for more than one week of work or for more than one show?
No. You must use one form per week per show.
Can I pay the Pension and Health contributions on one check?
Yes. You may combine the total contribution due for different shows and different week endings (the Fund Office will allocate the appropriate amounts to the proper funds): however, please be sure to attach the week ending Pension and Health reports that are due per week per show. Please note that if you are also making interest payments then a separate check is required.
If I participate in the 401(k) Plan, can I combine the Pension, Health, and 401(k) contributions?
No. You may combine the Pension and Health contributions (as indicated in the preceding question); however, 401(k) contributions must be made separately.
What are the deadlines for submitting the week ending reports and the corresponding contributions?
For Pension, Health and 401(k) reports and contributions: Week ending reports are due no later than the end of the week following the week in which the work was performed. If these contributions are not received by the end of the period you will begin to accrue interest.
What is the health, pension, and/or 401(k) rate for my contract?
You must contact the Actors' Equity Association Business Representative assigned to the contract for the correct rate.
What is the total weekly Pensionable Payments/Wages per performer?
The Pensionable Payments refers to the salary for which pension contributions are being made. The Pensionable amount depends on the type of contract. Please contact your Business Representative for the pension rate that must be paid on the Pensionable Payments
If I participate in the 401(k) Plan, what is the total salary per week that may be used to calculate contributions?
The 401(k) plan has a weekly limit of $7,500.00. Therefore, if a member is making above this amount on a weekly basis, it is to be reduced to $7,500.00 in order to make employer and deferral contributions to the Plan. Anything paid about this limit will be refunded, upon request, to the employer.
Why is their an additional rate associated with the weekly health contribution amount?
An employer is required to pay a Supplemental Workers Compensation rate in addition to the weekly regular health contribution amount, which is required under most contracts, to administer the cost of the Supplemental Workers' Compensation Plan. When a work-sustained injury or sickness, which qualifies for coverage under the applicable Workers' Compensation law, results in loss of time and salary, supplemental salary continuation benefits will be paid to the performer by the Equity League Health Trust Fund.
If a performer works only one day, is health due for the entire week?
Most contracts require a health contribution for the full week even when a performer works only one day. There are, however, exceptions; please refer to your contract or contact your Business Representative at Actors' Equity to determine if health is due.
If I am currently in the process of allocating Tax Relief to cover the Pension and/or 401(k) contributions, do I need to make contributions until the Tax Relief has been allocated?
Yes. A producer in the process of allocating tax relief must continue to make contributions until such time as sufficient funds have accumulated to cover the contribution on salary. Cash payments are due for these contributions on a weekly basis because until you preview/open in a Tax Relief Theatre, the Equity-League Pension Fund will not be receiving any contributions other than the cash payments.
Who is my Business Representative?
Please contact the Actors' Equity Association and they will advise you.
Why do I have to pay contributions and/or interest to the Equity-League?
By entering into a contract with the Actors' Equity Association the producer agrees to be bound by the Agreement and Declaration of Trust establishing the Equity-League Pension, Health, and 401(k) Trust Funds and to be bound by all rules and regulations of said Pension, Health, and 401(k) Funds. Federal Law, ERISA, also imposes duties upon the people who are responsible for the operation of an employee benefit plan, including the charging of interest for late contributions.
How is interest calculated?
Interest is assessed on pension and health payments received three weeks, (two weeks for 401(k) payments), after the week ending date at the Prime Rate issued on January 1 and July 1 during each calendar year plus 2%.
Why can't I get my Security Bond money back?
Bonding will not release the Security Bond money until the Equity-League Pension and Health Departments have no claims on the bond. Please note that the same applies if another department, for instance Membership, has a claim on the bond; therefore you should contact the Bonding Department to ascertain which Departments have a claim on the bond. Once you know which Departments have a claim on the bond, you should contact the Departments directly to resolve the claims.
Please note that if you participate in the 401(k) Plan, it may also have a claim on the bond.
If I owe a lot of money to the Equity-League but am having financial difficulties, can I set up a payment plan?
Depending on the circumstances a payment plan can be designed for you in accordance with the procedures of the Equity-League. Please contact the Fund Office.
If an actor/stage manager is incorporated and employed through the corporation, can he/she still participate in the 401(k) Plan?
Actors who are incorporated and employed through the corporation will be eligible for employer contributions, however, they will not be eligible for salary deferrals.
If I have questions about what I owe, whom should I contact?
You may write to Arthur Drechsler, Executive Director.
Can an actor/stage manager defer or contribute to the 401(k) Plan from overscale per diem?
Deferred Salary Contributions can only be made from taxable income. If an actor/stage manager is being paid expenses he/she can only make deferrals from TAXABLE overscale per diem.