Good News - Administration Fee Reduction effective 06/2017
The Trustees of the Entertainment Industry 401(k) Plan are happy to announce that due to growth of the Plan, a decrease in expenses, and favorable market conditions, the Trustees will be decreasing the monthly administration fee and doubling the discount for email delivery of statements and other notices.

Here is the new monthly fee schedule effective 06/2017:
Account Balance Prior
Monthly Fee
New
Monthly Fee
.01 - $99.99 $1.50 $1.00
$100.00 - $199.99 $3.00 $2.00
$200.00 - $499.99 $4.00 $3.00
$500.00 and over $5.00 $4.00

The discount for email delivery will increase from $1.00 to $2.00 per quarter.

For a participant with a balance of $500.00 or more who is on email delivery, this results in a savings of $16.00 per year or 29%.

Important Dates

09/07/2020
Office closed for Labor Day

Did you know?

The Entertainment Industry 401(k) Plan Office is Open
The 401(k) Plan is an "essential business" because we provide retirement benefits to our participants, so we will remain open. To maintain a safer workplace, approximately one half of our staff is working remotely.

Incoming and outgoing mail cannot be processed remotely. We expect the US Postal Service will be affected due to personnel shortages as well as the additional burden of more letters and packages shipped via US Mail. For this reason, we believe there will be delays in the receipt and delivery of US mail.

We would appreciate your help by signing up for email delivery.

We also ask that you communicate with us electronically and refrain from using US Mail, if possible.

COVID-19 Hardship Distributions and the Secure Act
In response to the COVID-19 pandemic, the Trustees of the Entertainment Industry 401(k) Plan amended the Plan to allow Hardship Distributions due to economic circumstances of the Participant, the Participant's spouse, children, dependents, or 401(k) Plan Beneficiary, resulting from the COVID-19 virus that have triggered the Participant's immediate and heavy financial need.

Also, Qualified Birth or Adoption Distributions may now be made from the Plan.

Please note that these new distribution rules only apply to voluntary withholdings. If you did not have deductions from your paycheck, you do not qualify for the distributions outlined in the link below.

The IRS does not allow distributions from Employer Contributions unless the Participant is over age 59 or has not received contributions within the last 12 work months.

For more information, click here.

Market Timing/Excessive Trading Guidelines
Before you change your investment elections, please be sure to review the Market Timing/Excessive Trading Guidelines. Understanding the guidelines will allow you avoid trading restrictions.

Default Investment Fund
When the Administrative Office has no investment direction (Enrollment/ Beneficiary Form) on file for you, your account balance will be automatically invested in the Qualified Default Investment Alternative (QDIA). In other words, if you don't tell us where to invest your assets, they will be automatically invested in the QDIA until you tell us to differently.

To make your original investment elections, you must complete an "Enrollment/Beneficiary Form". This form allows you to make investment elections, designate a beneficiary and establish a PIN (personal identification member) to access your account. For more information please review the:     2019 Qualified Default Investment Alternative (QDIA) Notice

Log in to our website with your e-mail address
Now you can log in with either your Social Security Number or your e-mail address. The first time you log in, you will be sent a validation e-mail. The e-mail will provide a link to validate your on-line access and you will be asked to enter your PIN.

Each time you change your e-mail address, you will receive a new validation e-mail. We have added these extra layers of protection to enhance the security of your on-line account access.

2016 Fund Line-up Change Notice...
To see the transition from the Fidelity Funds to the new options available, please review the 2016 Fund Line-up Notice.

Welcome

The Entertainment Industry 401(k) Plan was created in 1996 to provide retirement benefits for daily hire and staff Union Members working in the Entertainment Industry.

The Plan has grown to over 22,000 participants nationwide in various union affiliations. As a result, we have learned and therefore refined what we do to continually improve the level of service to our members.


© 2020 Entertainment Industry 401k Plan