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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