Musicians File

It was reported that the American Federation of Musicians and Employers’ Pension Fund will apply to reduce benefits under MPRA. Nothing yet on the website but today their 5500 form for the plan year ended March 31, 2020 was filed.

Plan Name: American Federation of Musicians and Employers’ Pension Fund and Subsidiary

EIN/PN: 51-6120204/001

Total participants @ 3/31/20: 51,295 including:

  • Retirees: 17,116
  • Separated but entitled to benefits: 13,777
  • Still working: 20,402

Asset Value (Market) @ 4/1/19: 1,802,580,746

Value of liabilities using RPA rate (3.08%) @ 4/1/19: $5,321,113,649 including:

  • Retirees: $2,452,148,334
  • Separated but entitled to benefits: $755,643,791
  • Still working: $2,113,321,524

Funded ratio: 33.88%

Unfunded Liabilities as of 4/1/19: $3,518,532,903

Asset Value (Market) as of 3/31/20: $1,557,738,928

Contributions (MB): $75,073,680

Contributions (H): $74,976,332

Payouts: $200,079,679

Expenses: $36,628,671

6 responses to this post.

  1. Posted by NJ2AZ on January 15, 2021 at 9:08 pm

    https://www.azfamily.com/news/politics/arizona_politics/ducey-plans-big-tax-cuts-make-up-summer-school-classes/article_bfdee0c6-34a7-5fb1-a5a6-e6ff8ff16cc6.html?block_id=997196

    “Arizona’s finances have weathered the pandemic relatively unscathed, leaving the governor and lawmakers with a surplus that Ducey pegs at more than $1 billion. The state’s rainy day budget reserve fund has nearly $1 billion.”

    Further galvanizing me against bailing out financial hellholes like NJ and IL. I suppose the upside is if bailing out those places means AZ get a few billion, the state can cut taxes even more for a while.

    Reply

    • Posted by Tough Love on January 15, 2021 at 11:54 pm

      While “financial hellhole” is not an inaccurate description for Ill and NJ, you make it seem that it’s the ordinary citizen’s fault.

      Clearly it’s NOT. It’s the fault of our self-serving, contribution-soliciting, vote-selling , Taxpayer-betraying, Union-beholden Elected Officials.

      Reply

      • Posted by NJ2AZ on January 16, 2021 at 12:46 am

        i was about to say “Yeah well who voted for all that” until i realized the state’s like 90% government employees and their families (ok maybe i’m embellishing a bit)

        none the less, my senators may have Ds next to their names but i’m hoping they remember who them represent.

        Reply

        • Posted by Tough Love on January 16, 2021 at 1:12 am

          It’s probably closer to 50% than 90%, but due to the extreme self-interest to KEEP their overcompensation (and get even MORE, where they can), Public Sector workers and their families have a MUCH higher voter participation rate.

          It’s VERY difficult for the mostly uninvolved Private Sector Taxpayers to overcome this at the polls.
          ———————————

          Until we take the monetary benefits out of the picture ………. meaning no Public Sector Union campaign contributions (via ANY method)……. it will be very difficult to turn this around.

          Reply

          • And you’ll just have to keep paying won’t ya👍

            Reply

          • Posted by Rex the Wonder Dog!🐶🐶🐶🐾🐾🐾 on January 18, 2021 at 11:52 am

            And you’ll just have to keep paying won’t ya👍
            Until the state/county/muni goes BK, either asset driven or cash flow BK, then it is GAME OVER for you ass clowns….😎

            Reply

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