... and the Motion Picture Industry Pension and Health Plan.
At last night's TAG General Membership Meeting, there was a brisk and businesslike presentation put on by MPIPPHP representatives. In a nutshell, it went like this:
1) When most participants retire: (age 65); how and when people can retire early: (from ages 55 to 64 if they have at least 20 Qualified Years and 20,000 hours).
2) There was a review of the Motion Picture Industry Health Plan: 48,000 active participants and their dependents qualified for health insurance. Participants paid monthly premiums of $0 (no dependents); $25 (1 dependent); $50 (2 or more dependents).
3) The Plan representatives supplied answers to a plethora of questions.
There was a record 94 million hours contributed to the plan last year, which translates to $856 million. Another $434 million came from residuals and secondary markets. (There was a 6% growth of assets from investment returns; there were 7,370,252 contribution hours from TAG members -- an 11.6% increase from 2015 to 2016).
MPI Pension Plan -- $3.3 billion
MPI Individual Account Plan -- $4 billion
MPI Active Health Plan -- $971 million
Retiree Health Plan -- $94 million
TOTAL -- $8.42 billion