This morning Benefits Coordinator Lauralyn Walsh sent out an email to the membership to remind us all of how very important it is to name beneficiaries and contingent beneficiaries when we enroll in a retirement plan, annuity plan or insurance policy. Once you have selected your beneficiaries make sure that the forms are kept with all your important documents.
While beneficiary designations are not required, they are a very smart step to make for the future of your loved ones. Neglecting to name a specific person (or persons) or by entering “estate” as your beneficiary could result in your assets passing through a lengthy probate process upon your death, leaving your heirs without the ability to receive the funds when they may need them most. Furthermore, if no beneficiary is named, the estate may be forced to immediately pay income tax on the funds, often at an unfavorable tax rate.
Another common mistake people make is leaving unintended beneficiaries on retirement plans, annuities or life insurance policies. Any time you experience a life event, such as a marriage, death, divorce, birth or adoption, you should review both the primary and contingent beneficiaries on your policies and investments. Outdated beneficiary choices could result in unintended heirs and/or adverse tax consequences, especially on retirement funds.
Take the time this week to download the appropriate forms:
Health and Welfare Fund Beneficiary Designation (link to PDF)
Annuity Fund Beneficiary Designation (link to PDF)
Local 479 Basic Life Insurance Member Enrollment (link to PDF)
National Pension Fund Beneficiary Designation Form (linke to PDF)
Return your completed document(s) to: I.A.T.S.E. National Benefits Fund, 417 Fifth Avenue 3rd. Floor, New York, NY 10016
Please feel free to call the office to speak to Lauralyn if you have any questions!
Despite our best efforts to inform our membership of the details of Local 479’s Vacation Check program there are still a few members who have missed our announcements at meetings, email alerts and social media shares. The program is very simple: you will be receiving a vacation check IF you were in good standing at the end of the year AND if you contributed more than (more…)
Today Local 479 announced that we will be streamlining our Late Fee policy with a clean slate program. To learn more about how these changes may affect you be sure to consult today’s Breaking News email. If you have questions about these changes or about your account in general please contact our office during regular business hours. Be sure to add the email address firstname.lastname@example.org to your contacts list to ensure that you receive your bills on time.
If you have not checked your members-only email messages in the past few days let us share some good news with you now: Local 479 has enlisted the services of MetLife to afford our members in good standing the benefits of Short Term Disability (STD), Long Term Disability (LTD), and Basic Life Insurance coverage. Effective January 1, 2016, MetLife began underwriting the Local 479 STD, LTD and Basic Life Insurance plans. For plan overview and additional details on this program check your Breaking News email.
At the October 2015 general membership meeting our local voted in favor of the Vacation Fund Incentive and as a result, vacation checks have been calculated and are already on their way to qualifying members. To understand the details of how to qualify for this member incentive check your member email.
479 members you are now able to access your Wells Fargo Annuity account online. If you already have an account with Wells Fargo your Annuity Account will have been associated with your existing account. If you do not have an existing account just go to the Wells Fargo website and click on the link to “Enroll”. You’ll need to enter your social security number and check the box that states “I don’t have an Account, loan, ATM card, or debit card number”. Be sure to log in and review your information, the savings in this account are an important part of your retirement nest egg!
Once again it is open enrollment period for Plan C Health Benefits. The mailing of statements has begun and all statements should be received by the end of the Thanksgiving Holiday. This is an opportunity to enroll if you are not currently enrolled (if eligible) or the opportunity to make needed changes for the best possible coverage for you or your family. New enrollments, payments and changes are due in the (more…)
ATLANTA – Gov. Nathan Deal announced today that Georgia-lensed feature film and television productions generated an economic impact of more than $6 billion during fiscal year 2015 (July 1, 2014-June 30, 2015). The 248 film and television productions shot in Georgia represent $1.7 billion in spending in the (more…)
Local 479 Secretary/Treasurer Frank Hatcher provides six sure-fire ways to remain in good standing and not find yourself owing back-assessments.
- Log into your account at iaentertainment-locals.org. On the main page you will see if you have a balance due and if your account is in good standing. Click the tab labeled “Charges” to review types and amount of charges to your account and to determine if you have a balance due.
- Make sure you open all emails from Local 479. If you have a charge or a balance due, notification will arrive by email.
- Pay all quarterly dues for the year as soon as you receive your annual statement. There is a $4.00 discount if you pay for the entire year and before the deadline.
- If a dues incentive has been voted by the membership for the year, be doubly sure your account is current as of the end of November.
- Check every paystub to ensure that a 3% work dues assessment has been taken out. Do the math: find the amount of gross pay for the period and multiply that number by .03, the result is the amount due to Local 479 for that pay period. If the amount does not match or is missing entirely, inform the payroll accountant as soon as you can. Imagine the pain of learning that you owe several hundred dollars in assessments to the Local following an audit, long after a show has wrapped and you’ve spent the money.
- If you have a question regarding your status or any other financial question, do not hesitate to give me or anyone else in office a call. Frank Hatcher (404) 361-5676, Ext.. 109.