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Creative Rights Caucus from the House<br />

of Representatives: Judy Chu, Democrat<br />

from California’s 27th Congressional District,<br />

and Republican Doug Collins from<br />

Georgia’s 9th Congressional District.<br />

Director Cahill thanked Local 600, and<br />

Chaim Kantor, for ensuring that a Union<br />

still photographer is always used for the<br />

event.<br />

Director Cahill then discussed the<br />

Department’s efforts to ensure that Union<br />

stagehands are used for events in and<br />

around the D.C. area.<br />

The <strong>2018</strong> Elections<br />

Director Cahill concluded his report<br />

with two thoughts regarding the <strong>2018</strong><br />

elections. First, voter registration and getout-the-vote<br />

efforts will be vital. Approximately<br />

107 million eligible voters did not<br />

vote in the 2016 election. Their participation<br />

could make all the difference in <strong>2018</strong>.<br />

Second, Director Cahill discussed the lack<br />

of female representation in Congress and<br />

governorships and urged <strong>IATSE</strong> women<br />

to either run for office, or convince their<br />

daughters to run for office. Laura Wentz,<br />

a member of Local 8, heeded the call and<br />

today she is an Upper Darby Township<br />

Councilwoman.<br />

President Loeb thanked the Department<br />

for its report. Labor’s priorities will<br />

not be addressed by the current Congress,<br />

so labor is playing defense. Regardless,<br />

the <strong>IATSE</strong> will continue to lobby for its<br />

unique interests. Taking back power will<br />

require hard work – knocking on doors,<br />

working with state and local labor federations,<br />

making phone calls, etc. President<br />

Loeb stressed the need for the International<br />

and its members to stay engaged<br />

and active.<br />

<strong>IATSE</strong> NATIONAL<br />

BENEFIT FUNDS<br />

General Secretary-Treasurer James<br />

B. Wood, International Vice Presidents<br />

Michael F. Miller, Jr., Daniel Di Tolla,<br />

William Gearns and International Trustee<br />

Patricia White presented to the Board<br />

a report on the <strong>IATSE</strong> National Benefit<br />

Funds.<br />

After a minor slowdown in year over<br />

year contribution growth in 2016, the<br />

final numbers for 2017 indicate a return<br />

to double digit growth with a year over<br />

year increase in cash receipts from 2016<br />

of 13.06%. Motion picture production<br />

employment accounts for approximately<br />

57% of the contribution receipts. The<br />

balance is comprised of all other industries<br />

such as trade show, road shows, box<br />

office, sports broadcasting, amusement<br />

parks, etc.<br />

Net assets of the Funds have reached<br />

approximately $1.7 billion as of December<br />

31, 2017. Compared to total net assets<br />

of $915 million as of December 31, 2012,<br />

asset levels have increased 87.6%. Comparing<br />

year-end 2016 to year-end 2017,<br />

the net assets of the Funds have increased<br />

16.2%.<br />

As of January 1, <strong>2018</strong>, the <strong>IATSE</strong> National<br />

Health & Welfare Fund provides<br />

health coverage to 45,112 lives in one of<br />

its eight different Plan options. This represents<br />

an increase of 37.0% since 2014.<br />

The Fund achieved a 2017 investment<br />

return of 7.3%.<br />

The <strong>IATSE</strong> Annuity Fund has over<br />

76,000 active accounts with retirement<br />

account balances in individual self-directed<br />

accounts and is rapidly closing in on<br />

the $1.0 billion mark.<br />

The <strong>IATSE</strong> National Pension Fund<br />

provides retirement benefits to 2,600 pensioners<br />

and approximately 22,000 active<br />

working members and inactive vested<br />

participants who will be able to receive<br />

valuable monthly lifetime income from<br />

the Fund at retirement from Plans B and<br />

C. The Fund achieved a 2017 investment<br />

return of 13.3% which is far in excess of<br />

the 7.25% assumption rate.<br />

New updated Summary Plan Description<br />

booklets are being written for<br />

Health & Welfare Plans A and C and for<br />

Pension Plans B and C. The Fund Office<br />

hopes to begin distribution of these new<br />

booklets and also have them available on<br />

the Funds <strong>web</strong>site by the third quarter of<br />

<strong>2018</strong>.<br />

And finally, with the goal of continuing<br />

to provide the highest level of service<br />

possible to participants, the Trustees recently<br />

approved the creation of five new<br />

positions within various areas at the National<br />

Benefit Funds office.<br />

<strong>IATSE</strong>-PAC REPORT<br />

General Secretary-Treasurer James<br />

B. Wood, International Vice Presidents<br />

Thom Davis, John Ford, and Craig<br />

Carlson, Stagecraft Department Co-<br />

Director Anthony DePaulo, Political and<br />

Legislative Affairs Department Director<br />

J. Walter Cahill, and Assistant Director<br />

Erika Dinkel-Smith updated the Board<br />

on the <strong>IATSE</strong> Political Action Committee.<br />

General Secretary-Treasurer Wood<br />

reported that, for the period July 1, 2017<br />

to December 31, 2017, the <strong>IATSE</strong>-PAC<br />

received $136,189 in contributions and<br />

made disbursements of $70,000.<br />

There were three significant one-time<br />

contributions which made up approximately<br />

half of the contribution amount.<br />

FIRST QUARTER <strong>2018</strong> 51

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