Deferred Salary Agreement
What employers need to know
Some Actors’ Equity contracts require you to make 401(k) contributions for actors and stage managers working in covered employment or allow 401(k) salary deferrals for those actors and stage managers. For a list of those contracts, view the 401(k) Overview page.
In your weekly contribution reports, you are required to list both the percentage and contribution amount deferred by each participant.
Actors and stage managers working under a contract that allows them to defer income to their 401(k) will need to complete a 401(k) Deferral Form, if they choose to defer income to their accounts. The form must be signed by the actor or stage manager and the employer. Each of you retains a copy of the form, and a third copy must be sent to Equity-League.
Calculating the elective deferral contribution
Elective deferral contributions are based on weekly contractual salary and not on contractual minimums. The maximum weekly compensation that counts toward salary deferrals is $7,500. If your weekly salary is above $7,500, the salary above $7,500 may not be deferred, regardless of how much higher the weekly salary is.
For example, if you elect to defer 1%, and your weekly salary is $9,000, the weekly deferral will be $75 (1% of $7,500).
For any contract where the weekly compensation limit is less than $7,500, the salary deferrals are only permitted up to that amount.
Note: If participants are between the ages of 50 and 59 (or 64 years or older) by December 31 of a given calendar year, they may defer an additional $7,500—known as a catch-up contribution (up to a total of $31,000 for 2025). If they are between the ages of 60 and 63 by December 31 of a given calendar year, they may defer an additional 50% of the catch-up contribution amount (a total of $34,750 for 2025). The $7,500 maximum weekly salary compensation limit does not apply for such additional catch-up contribution deferrals.
Example: A Stage Manager’s weekly contractual salary amount under a category B+ agreement in Repertory is $1,600. The category minimum salary is $1,521. The member elected to defer 10% of salary. Therefore, the employer is required to defray $160 as the member’s deferral contribution ($1,600 x 10%).