If you're union crew, the hours you work don't just pay you today—they build retirement benefits through the Motion Picture Industry Pension & Health Plans(MPI). For many people, those benefits become one of the most valuable assets they own, yet they're often the least understood.
Here's a quick test: ask a financial advisor what an Individual Account Plan (IAP) is. If they hesitate, you've learned something important about whether they regularly work with entertainment professionals.
That's why I created a free online guide explaining the difference between your pension and your IAP, how election decisions work, common rollover considerations, and the questions worth asking before making a permanent decision.
Inside you'll find:
The two pieces most people mix up
Your MPI retirement benefits generally come in two parts, and they work completely differently.
The pension is a defined benefit. Your qualified hours over your career translate into a monthly check for life at retirement. You don't manage it, you don't pick investments, and you can't outlive it.
The Individual Account Plan (IAP) is an account with your name on it, funded through your covered work. Unlike the pension, it has a balance you can see, and when you retire you'll make elections about how it gets paid out to you.
Same hours, two different benefits. Most of the confusion I see comes from treating them as one thing.
Why the election matters more than people think
When you retire, the choices you make about your IAP and pension are generally permanent. There's no test drive and no do-over. The right answer depends on your health, your spouse, your other savings, your tax picture, and what the rest of your income looks like, which is exactly why the default choice on the form isn't automatically the right choice for you.
My whole position on this is simple: let someone explain the options to you before you select anything. Not sell you. Explain.
Where to get your actual numbers
Your hour bank, your vesting status, and your current plan rules live with the MPI Pension & Health Plans office, and their numbers are the only numbers that count. Call them, request your statements, and keep copies. If you'd rather not navigate that call alone, helping people prepare for exactly that conversation is part of what I do.
Have questions about your situation?
I created a free online guide that explains the MPI Individual Account Plan in plain English - what it is, how it differs from your pension, and the questions worth asking before making an election. No downloads, no signup, and no obligation.
Email me at samj@fpfmgmt.com with "IAP guide" in the subject line and I'll send it over. Or message me on LinkedIn, whichever's easier.
If you'd rather just talk it through: Book a 20-minute intro call
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IM P O R T A N T D I S C L O S U R E S The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. This material is provided for general educational purposes only and does not constitute investment advice or arecommendation to take or refrain from any particular course of action. Decisions regarding pension and IAP distributions are significant and generally irrevocable. A rollover is not always the best option; in many situations remaining in an existing plan or electing an annuity may be more appropriate. Any analysis would consider, among other factors, available investment options, fees and expenses, services, and the guarantees associated with each choice. First Point Financial Management and Sam Javanmard are not affiliated with, endorsed by, or sponsored by the Motion Picture Industry Pension & Health Plans (MPI), SAG-AFTRA, IATSE, or any union or benefit plan. Marks referenced are the property of their respective owners and are used for identification and educational purposes only. CFP® is a certification mark owned by the Certified Financial Planner Board of Standards, Inc.
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