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Qualifying for the Plan

Qualifying for the 401(k) Plan

How you become eligible for the Equity-League Benefit Funds 401(k) Plan, and how you become a participant, is summarized below. For complete details about qualifying for Equity-League Benefit Funds 401(k) benefits, please refer to the Equity-League Benefit Funds Pension Plan and 401(k) Summary Plan Description.

Becoming eligible for the Plan

You become eligible to participate in the 401(k) Plan by working under any Actors’ Equity collective bargaining agreement (CBA) that provides for 401(k) contributions. However, there are different types of such contracts. Some require employer contributions, others provide only for salary-deferred employee contributions, while still others allow both types of contributions. To learn what, if any, contributions the Actors’ Equity contract you’re working under allows, view our 401(k) FAQs or search the Agreements library at Actors’ Equity site.

Participating in the Plan

If the CBA that you’re working under requires employer contributions, you are enrolled in the Plan automatically and immediately upon employment. If only employee contributions are allowed by your CBA, you become a participant when you defer part of your salary to contribute to the Plan. To defer part of your salary to a 401(k) account, submit a completed 401(k) Salary Deferral Agreement, which may be found at our 401(k) Forms page.

Understanding your 401(k) individual account

Once we receive any contribution on your behalf, we will automatically create an individual account for you. Your individual account is actually comprised of up to three separate accounts, as described below.

•Salary reduction account – This account will be credited with any salary deferrals you have agreed to, plus any related earnings or losses.

•Employer contribution account – This account will be created if the CBA requires employer contributions on your behalf. If so, it will be credited with contributions made by your employer, plus any related investment earnings or losses.

•Rollover contribution account – This account will be credited with any funds rolled over from other eligible retirement accounts, plus any related investment earnings or losses.

Questions?
For complete details about Equity-League Benefit Funds 401(k) benefits, refer to the Equity-League Benefit Funds Pension Plan and 401(k) Summary Plan Description. If you have additional questions or need assistance, contact the Equity-League Benefit Funds Retirement Services Department at (212) 869-9380 or outside the NY Metro area, at 1-800-344-5220 from 9:30 am to 5:30 pm ET