AFTRA RETIREMENT FUND
Our employers are required to make contributions to a pool of funds set aside for our qualifying members’ future financial benefit.
HOW TO QUALIFY:
If you earn more than the qualifying threshold of covered earnings in a year, currently $15,000 for AFTRA-covered work, that year counts as one pension credit, and all that year’s earnings multiplied by the member accrual rate of approximately 1% are added to your annual pension upon vesting and taking it.
If you earn $100,000 in a year, you get one pension credit and it adds approximately $1,000 per year to your potential pension income. Members’ max pension is currently capped at $108,000 per year.
Vesting means you have earned a pension. To vest, you must earn at least 5 pension credits over the course of your career after 1989 or have 10 pension credits all from before 1989. When vested, you can take your pension at 65 years old with no penalty or as early as 55 for up to a 60% penalty.
For all the specifics, visit the plan’s website: AFTRA Retirement Fund.
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