IATSE_1st2017_web

with $4 billion. The Active and Retiree
Health Plans held $944 million and $86
million, respectively. As of November
30th, the MPIPP investment returns for
2016 were up by approximately 5.7%.
The MPIPHP investments are well diversified
and continuously shift as the
investment advisors and market conditions
warrant. The MPIPHP assumed
rate of return is 8% and plan advisors
and actuaries have indicated that it will
be necessary to evaluate and potentially
adjust the assumed rate of return based
on market conditions, interest rates and
a longer-term outlook for plans such as
the MPIPHP. The plans and actuaries
will be addressing this issue throughout
2017 and likely into bargaining.
The combined hours into the
MPIPHP in 2015, which contained fiftythree
payroll weeks, were 89 million. Vice
President Miller noted that as of November
30th, contributed hours were over 87
million hours and it is anticipated that
when the year end 2016 hours are reported
the MPIPHP will exceed 92 million
hours of employment. Year-to-date
totals through November are consistent
with continued growth and the industry
is currently very busy. Employer hourly
contributions of $791 million through
November are up by approximately 10%
from the same period last year and have
already surpassed the contributions for
all of 2015 by approximately $20 million.
This is due to both the increased hours
and the hourly pension contribution increase
of $0.18 per hour that was negotiated
into the last agreement.
Residual receipts into the MPIPHP
in 2015 totaled $450 million. For the period
through December 2016, the MPI
received $434 million, which lags 2015
residual receipts by $16 million.
The Active Health Plan has over
46,000 participants and 99,000 covered
lives, with an average annualized cost of
$11,580 per participant. The retiree plan
consists of 21,000 covered lives with an
annualized cost of $9,264 per participant.
The Plans are currently trending below
the 2016 projected health care costs in
both plans. There are currently 15,750
retirees and 1,750 beneficiaries receiving
pension benefits.
The MPIPHP reported that the reserve
levels were at 22.1 months in the
Active Plan and 9 months in the Retiree
Plan through November 30, 2016. The
projected reserve levels based on current
projections indicate that we will be at 16
months in the active plan and 8 months
in the retiree plan as of December 31,
2017. The reserve levels in both plans at
year end will exceed the amounts necessary
to trigger the 13th and 14th checks as
well as the 10% pension increase negotiated
in the last round of bargaining.
In addition to the financials highlights
of the MPIPHP, Vice President
Miller and the Trustees reported on several
plan changes that have occurred recently.
It was reported that Sutter Health
is no longer a contracted provider to
the MPIPHP as of January 1, 2016. This
has caused a significant hardship to the
MPIPHP participants in Northern California
as Sutter Health is one of the largest
health care organizations in Northern
California. MPIPHP was forced to make
this change because of unacceptable demands
made by Sutter that would have
MEET & GREET FOR MAKE-UP AND HAIR LOCAL
Make-up Artists and Hair Stylists Local 798 held a meet & greet on Sunday,
January 29, 2017 at the Le Meridien Hotel in conjunction with the Mid-Winter
General Executive Board meeting. This was an opportunity to meet Local 798
members in the New Orleans area. Among the attendees were Business Representative
Dan Dashman, Field Representative Greg Kasper, President Rose
Chatterton, Vice President Angela Johnson, and Business Representative Rosemarie
Levy.
FIRST QUARTER 2017 55