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EXCLUSIVE: Rosy projections that the underfunded Motion Picture Industry Pension Plan will be 100% funded by 2032 already have hit an early speed bump. That projection, made earlier this year by the Plan’s actuary, was based in part on the $3.8 billion retirement fund achieving a 7.5% return on investments – net of investment expenses – in each of the next 15 years. But despite a rising stock market, the Plan’s return on investments for the first six months of 2018 were down 0.4% and will be lucky to be in the black by the end of the year. “With this year’s market activity, we are hopeful to break even at the end of the year rather than take a loss,” IATSE Editors Guild Local 700 national executive director Cathy Repola – who’s also a director of the Plan – told her members in a recent communique. “Year to date at the end of June 2018, we are at net pension investments returns of -0.4%.” Related Story Motion Picture Industry Pension Plan Dips … [Read more...] about As Contract Vote Nears, IATSE Pension Plan Takes A Hit On Investments In First Half Of 2018

Sonali Phogat, who became a household name after entering the Bigg Boss 14 house as a wild card entry, is now planning to shift to Mumbai to focus on her acting career. For the unversed, Sonali is an actress-politician from Haryana who had put her acting career on the back burner for a while now. The BB 14 contestant has revealed to TOI that she is looking for a house in Mumbai to pursue her passion for acting. Sonali shared, “I want to pursue acting and do more work here. There are a few offers that are coming my way, let’s see. I want to do good roles with good people in the industry. Since childhood, I wanted to be an actor and I did a few roles, but later, I didn’t get too many opportunities and I even got busy with my political career. Now, I want to get back to acting.” She went on to add, “I want to do a woman-centric role, maybe a story of a lady who has gone through a lot of difficulties in life and how she battles them. I will always continue my … [Read more...] about Bigg Boss 14: Sonali Phogat Plans On Moving To Mumbai To Focus On Her Acting Career

As negotiations enter the homestretch for IATSE ’s first national contract with Netflix , members from a dozen of its locals are urging IATSE president Matt Loeb “to be relentless” at the bargaining table in order to provide “much-needed income to secure the future funding of our pensions.” In April, the trustees of the union’s Motion Picture Industry Pension Plan reported that its funding level had dipped to 66.8% – bringing it closer to “critical” condition, which by federal law is anything below 65%, as measured by a plan’s assets divided by its liabilities. “Streaming is the future and that future is in your hands,” the IATSE locals told Loeb, the union’s chief negotiator, in an open letter that will appear in a full-page ad in Sunday’s Los Angeles Times . “The IATSE must reach an agreement that brings equitable wages and working conditions for every IA member who will be working under this agreement, as well as new established funding stability to the health and … [Read more...] about IATSE President Matt Loeb Urged To Protect Union’s Pension & Health Plans In First Contract Talks With Netflix

Members of Hollywood’s below-the-line unions worked a record 100.5 million hours last year, but their underfunded pension plan has inched a little closer to “critical” status. Trustees of the Motion Picture Industry Pension Plan, however, stress that there’s no cause for alarm and that their members’ pensions are secure well into the future. According to the plan’s latest funding notice, its funding level has dipped to 66.8% – bringing it closer to “critical” condition, which by federal law is anything below 65%, as measured by a plan’s assets divided by its liabilities. It’s a new low for the MPIPP , which fell from 80.8% in 2015, to 76.8% in 2016, to 67.4% in 2017 – and now to 66.8% as of January 1, 2018, the last valuation date. The plan’s actuary, however, projects that it will be back to 80% funded by 2026 and 100% funded by 2032. Related Story IATSE Local 871 & Prop Local 44 Get New Leaders; Business Agents Leslie Simon & Ed Brown Are Out … [Read more...] about MPIPP Benefits Plan Dips Closer To “Critical” Status Despite Record Employment; Trustees Confident Of Turnaround

In a panel appearance Tuesday at CES in Las Vegas, a pair of top WarnerMedia execs offered a few new insights into HBO Max , the company’s subscription streaming offering set to debut in May. Chief Technology Officer Jeremy Legg and EVP and GM of Direct-to-Consumer Andy Forssell painted a somewhat more detailed picture of the $15-a-month service than was offered last October at the company’s investor day. Legg said one of the goals of the new platform’s user experience will be to eliminate what he called the “endless scroll” of many existing streaming, through a mix of tech tools and human curation. Also, the aim is to target mobile devices with an interface that is more “swipey” and less grid-oriented than those of competitors. (“Is that a word?” he joked.) Related Story 'The Runaway Bunny' Trailer: Tracee Ellis Ross Narrates HBO Max Animated Special Based On Classic Children's Book Moderator Sara Fischer of Axios asked which shows could potentially … [Read more...] about WarnerMedia Execs Talk HBO Max’s “Swipey” Interface, Distribution Plan, State Of HBO – CES