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Musicians Union Receives $1.5 Billion Pension Fix From American Rescue Plan
The American Federation of Musicians and Employers Pension Plan will receive a $1.5 billion pension-fix from the American Rescue Plan.
The American Federation of Musicians and Employers Pension Plan, which represents nearly 50,000 union members in the entertainment industry from Broadway to musicians in orchestras, bands, film, and theaters across the country, will receive a $1.5 billion pension-fix from the American Rescue Plan, U.S. Senate Majority Leader Charles E. Schumer announced today. Schumer said that the money will ensure that musicians and their families receive benefits that they paid into their whole lives, “but lost through no fault of their own and were set to go insolvent by 2034.” Sara Cutler, President of AFM Local 802 called the news “a big win for musicians.”
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