Motion Picture Members Can Now Enroll in the 401(k)
Brothers & Sisters,
A really great idea is only a fraction of the work. Turning that idea into something members can actually use is when the real work begins.
When we got the studios to agree to a path for adding the 401(k), that was just the beginning. Figuring out the legal hurdles, plan rules, and administrative issues was the next fight. I am proud to say that fight is now paying off, and the 401(k) option is available to our members working under the Motion Picture Basic Agreement.
For years, we have heard from members about the importance of having access to a 401(k) under the Motion Picture Basic Agreement. This was not just a Local 40 issue. Members from multiple unions across the motion picture industry raised the same concern, and for years this seemed out of reach.
I made retirement security a priority in our last Motion Picture negotiations because I believe members deserve every available tool to build a stronger retirement. While many people said it could not be done, Local 40 pushed the studios on this issue and secured a path to make the 401(k) available to our Motion Picture members.
This historic gain was only possible by partnering with our existing 401(k) plan under the Inside Construction agreement. The added benefit is that members who work under both agreements can now continue building their retirement while working under either agreement. After years of members asking for this benefit, the 401(k) option is finally available to our Motion Picture members.
Whether you enroll or not, the important thing is that the option is now there. A 401(k) gives members another way to set aside money above and beyond the pension. Even a few hundred dollars a month, over time, can turn into real money when it comes time to retire.
Last month we hosted a 401(k) educational meeting, and immediately after the meeting many members started enrolling in voluntary contributions to set themselves up for a stronger retirement. We hope to see you later this year at our next 401(k) educational meeting. This is a great opportunity to learn how this benefit works and if it makes sense for you.
Convention & Picnic Survey
Join us for the May general Membership Meeting on May 27, 2026, at 3:30pm for 401k educational meeting. We will be serving burgers and hot dogs.
Finally, I want to share that the 41st International Convention is in San Diego this year in September. This is only the fourth time the convention is being held in California and the first time in 25 years. I want to make sure all members who are interested in attending as a guest and willing to make the short drive get a chance to check it out. If you are interested in attending as a guest, the international requires a formal request in writing to the Business Manager. Email me at sdavis@ibew40.org with your request.
Also, we have a new survey about the Local hosting a picnic. This has been a goal of mine, and after speaking with members, I know this has come up as a great way to bring members and their families together. Please take this survey so we can get a better idea of how many people to expect and how best to coordinate planning.
In Solidarity,
Stephan Davis
Business Manager
Financial Secretary
