IATSE Talks Focus on $670 Million Shortfall in Health and Pension Plans
04.05.2024 - 01:31
/ variety.com
Gene Maddaus Senior Media Writer The International Alliance of Theatrical Stage Employees ended its first week of “general” negotiations on a new contract on Friday, and will resume next week. The union spent most of the week focused on its benefit plans, which are facing a $670 million shortfall over the next three years. The Motion Picture Industry Pension and Health Plans extended health coverage to members who were out of work due to last year’s strikes, leaving an unusually large funding gap.
The union provided a brief update to its membership on Friday evening, but gave no indication of how the talks are progressing. IATSE represents about 50,000 film and TV workers under its Basic Agreement with the Alliance of Motion Picture and Television Producers. The agreement includes 13 locals covering camera operators, hairstylists, grips, and many other crafts primarily in Los Angeles.
The contract is set to expire on July 31. Among the union’s top priorities is establishing a new source of funding for the benefit plans. The plans are funded primarily through employer contributions, which are tied to hours worked.
But shutdowns due to the pandemic and the strikes have interrupted that income stream, contributing to the significant shortfall. “If the funding is relying totally or significantly on hourly contributions, when the hourly contributions dry up that has a negative impact on the plans,” said Mike Miller, international vice president of IATSE, in an interview last week. Miller said the union is looking for a “safety net” to protect the plans during future unanticipated disruptions.
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