How your pension is calculated

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Retroactive pension benefit increase effective Dec. 1, 2014
The Board of Trustees is pleased to announce that it has enacted a retroactive pension benefit improvement for Retirement Plan participants effective Dec. 1, 2014. (Note: this follows a similar accrual percentage increase for covered contributions credited for the period May 1, 2009 to Nov. 30, 2012 that was effective Dec. 1, 2013 and communicated in the August 2013 Benefits Update).

Effective Dec. 1, 2014, the Plan is amended to increase the benefit accrual rate to 7.55% of AFTRA H&R covered contributions (up from the current 4.86%) solely with respect to covered contributions credited for the period Dec. 1, 2012 through Nov. 30, 2014. For participants on whose behalf contributions were due only to the Retirement Fund — and not to the Health Fund — during these periods, the formula is 21.57% of the covered contributions.

For complete information about this benefit improvement, refer to the September 2014 Benefits Update



For vested performers, pension amounts are based upon the following:
  • A percentage of covered earnings (prior to May 1, 2009) in base years (December 1-November 30) in which a pension credit was earned, adjusted for your age at retirement and the payment option you choose;
  • A percentage of employer contributions (on or after May 1, 2009) in base years in which a pension credit was earned, adjusted for your age at retirement and the payment option you choose.

AFTRA H&R calculates your annual annuity amount before the adjustments mentioned above as follows:

  • A percentage of covered earnings (prior to May 1, 2009) in base years (December 1-November 30).

    ... plus ...
  • The total amount of employer contributions credited on your behalf for the period May 1, 2009 through November 30, 2012 to the AFTRA Health & Retirement Funds in each base year in which you earn a pension credit multiplied by the contribution-based accrual rate of 7.0%. 

    ... plus ...
  • The total amount of employer contributions credited on your behalf for the period Dec. 1, 2012-Nov. 30, 2014 to the AFTRA Health & Retirement Funds in each base year in which you earn a pension credit multiplied by the contribution-based accrual rate of 7.55%.

    ... plus ...
  • The total amount of employer contributions credited on your behalf for periods on or after Dec. 1, 2014 to the AFTRA Health & Retirement Funds in each base year in which you earn a pension credit multiplied by the contribution-based accrual rate of 4.86%.

To learn more and view examples, refer to the 2013 Retirement Plan SPD along with the modifying August 2013 Benefits Update and September 2014 Benefits Update . If you’re vested, to determine your exact pension amounts under the different available payment options, call Participant Services at (800) 562-4690 to request a pension analysis.

Exceptions: Accrual rates will not be applied to contributions based on AFTRA-covered earnings in excess of the current maximum limit of $200,000 or to any one-time Sound Code payments to the Health Fund or to the employer contributions on behalf of participants who have previously chosen, under certain collective bargaining agreements, for those employer contributions to be made to the Health Fund only.

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For information about how your benefit is calculated, call Participant Services at (800) 562-4690, or refer to the 2013 Retirement Plan Summary Plan Description and modifying Benefits Updates for details and additional information.