A Major Election Upset At New York City’s Local 802, American Federation of Musicians

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Last week, the membership of New York’s Local 802, American Federation of Musicians (AFM) voted in a new leadership team to replace the near decade long tenure by Local President Tino Gagliardi. At the forefront of the new leadership is the president-elect Adam Krauthamer, who won 1,111 votes, or 67.42 percent of the vote. Full election results are available from the American Arbitration Association, which certified the election process. Krauthamer, a …

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AFM Musicians Charge Pension Mismanagement In Class Action Lawsuit

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One major development we missed last week amid the orchestra compensation reports was the class-action lawsuit filed against a host of defendants associated with the American Federation of Musicians & Employers’ Pension Fund (AMF-EPF). Filed in the U.S. District Court in Manhattan, the suit brings action against the defendants for “for breach of fiduciary duties and other violations of the Employee Retirement Income Security Act (“ERISA”), 29 U.S.C. § 1001, et seq.” …

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AFM-EPF News Continues To Look Grim

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At the beginning of July, 2017 the American Federation of Musicians & Employers’ Pension Fund (AFM-EPF) distributed a notice informing members the Plan continues to be in critical status and “it remains likely that the Plan will become critical and declining at some point in the future, perhaps as early as…April 1, 2018.” For the most part, AFM-EPF Trustees adopted a “here’s what the problem is and what we would like …

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The Latest Development In AFM-EPF Pension Headaches

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On 1/17/2017 we examined the growing problems within the American Federation of Musicians & Employers’ Pension Fund (AFM-EPF) that led to the Board of Trustees to send a letter to plan members explaining how the fund has suffered since the economic downturn and their plan for recovery. Since then, that letter does not appear to have assuaged anxiety among some AMF-EPF members. A group of AMF member musicians met in New York City …

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The Recent Round Of AFM-EPF Pension Headaches

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Pensions; can’t live with them, can’t avoid a crippling social collapse without them. Recently, the American Federation of Musicians & Employers’ Pension Fund (AFM-EPF) Board of Trustees sent a letter to plan members explaining how the fund has suffered since the economic downturn and their plan for recovery. Unlike other union pension plans, the AFM-EPF is a defined benefit multiemployer pension plan. The organization describes the distinction to a single employer …

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