SAG-Producers Pension Plan SPD & Benefits

Suspension of Pension Payments for Certain Employees After Retirement

In order to receive a monthly pension from this Plan, you must retire and you cannot perform work which is prohibited by the Plan rules.

If you are age 65 or older, you may be employed in any capacity after retirement and still be entitled to receive your pension. If you are younger than age 65, your pension will be suspended for the following type and duration of employment:

Retirement Prior to January 1, 1999

If you retired prior to January 1, 1999, your pension will be suspended for any month prior in which you are younger than age 65 and have sessional earnings that exceed the minimum earnings required to earn a year of Pension Credit ($20,000 in 2012). Once you stop working in prohibited employment, your pension will start in the same amount you were receiving prior to the suspension. When you reach age 65, you will be entitled to an increased pension based on the earnings (sessions and residuals) credited during the months in which you pension was suspended, subject to the Plan's minimum and maximum pension amounts. The additional benefit amount will not be subject to reduction for age.

Retirement After January 1, 1999

If you retire on or after January 1, 1999, your pension will be suspended for any month in which you are younger than age 65 and have sessional earnings that equal or exceed an amount equal to 7 days multiplied by the minimum day player rate under the TV and Theatrical Agreement, rounded up to the next $100. The minimum day player rate in effect on January 1, 2012 is $825.00. Therefore, your benefit will be suspended if you have sessional earnings of $5,800.00 (7 days x $825 = $5,775.00, rounded up to the next $100) or more in a calendar month. The minimum dayplayer rates under the most recent TV and Theatrical Agreements are as follows:

The minimum dayplayer rates

July 1, 2011– June 30, 2012

825.00

5,800

July 1, 2012– June 30, 2013

842.00

5,900

July 1, 2013– June 30, 2014

859.00

6,100

Once you stop working in prohibited employment, you will start to receive your pension again in the same amount you were receiving prior to the suspension. At the end of the calendar year, your total earnings (sessions and residuals) will be reviewed. If your total earnings for the calendar year equal or exceed the minimum earnings required to earn a Pension Credit ($20,000 for 2012) your pension will be recalculated when you reach age 65 based on all of the earnings reported in that calendar year, subject to the Plan's minimum and maximum pension amounts.

Because the additional benefit is paid at age 65, it will not be reduced for age. If your total earnings for the calendar year are less than the minimum earnings required to earn a Pension Credit, the amount of pension that was suspended during that year will be refunded to you.

For example: If you work and earn $6,000 in sessional earnings in April 2012 your pension will be suspended for April. If you have no other earnings during 2012, the amount of pension that was suspended will be refunded to you but no additional accrual will be provided. However, if you work and earn $6,000 in April and have total earnings during 2012 of $20,000, your suspended benefits will not be immediately refunded but you will receive additional benefit accrual for the $20,000, payable at age 65 without reduction for age, subject to the Plan's minimum and maximum pension amounts.

You must notify the Plan Office, in writing, within 15 days of engaging in prohibited employment. If your benefits are suspended you have the right to appeal that determination by filing a written request for appeal with the Trustees within 60 days of the notice of suspension.

If your pension is suspended, you must advise the Plan Office when you stopped or will stop working in prohibited employment and the first month for which you would like your benefits to begin again. At that time, the Plan Office will examine the circumstances of the employment and advise how the recovery of any improperly made payments will be scheduled. The Trustees will offset the amount of any pension payments made which should have been suspended against future monthly pension payments. The amount of offset will be the maximum allowed by the law.

The text of the Plan rules concerning suspension of benefits can be found on page 88 of this booklet. The applicable Department of Labor regulations governing suspension of benefits under pension plans may be found in Section 2530.203-3 of Title 29 of the Code of Federal Regulations.