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401(k)
Also see: Pension, health and 401(k) benefits are provided by the Equity-League Pension, Health and 401(k) Trust Funds. The Funds office is located at 165 West 46th Street, New York, NY 10036. Visit www.equityleague.org or call 212-869-9380 or 1-800-344-5220 (outside of New York). A 401(k) is a savings plan that allows employees to save and invest for their own retirement. Through a 401(k), you authorize your employer to deduct a certain amount of money from your paycheck before taxes are withheld, and to invest it in the 401(k) plan. Your money is invested in investment options that you choose from your 401(k) Plan's provider. You do not pay income taxes on this money until it is withdrawn from the plan. The following contracts allow for 401(k) employer and deferral contributions: Production Contract (Equity/League) and Production Contract (Disney Theatrical Productions, Ltd). These employers contribute 3% of your weekly compensation up to a maximum contribution of $165.00 per week, based on the maximum weekly salary of cap of $5,500.00. The maximum single employer contribution for an actor/stage manager for the year 2006 is $6,600 per employer. Many Equity contracts now allow you to defer your own contribution into a 401(k) plan, that is deducted from weekly salary. Please note there are no employer contributions eligible under these contract types. Click here for a list of contracts.
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The Equity-League 401(k) plan's provider is MassMutual:
Pursuant to federal law, the Equity-League Pension, Health and 401(k)Trust
Fund is a separate organization which is jointly administered by labor and
management. The Board of Trustees of the Equity League Funds is made up of
an equal number of Trustees representing both Actors' Equity and various
management bargaining associations. The Trustees have a legal fiduciary
responsibility to the Funds. All Trustee decisions are implemented by a Fund
Administrator (hired jointly by labor and management Trustees) who
supervises the Funds' staff and operations. The Funds are housed in separate
offices and are NOT a subsidiary or department of Actors' Equity
Association.
