401 Qué?

A few folks seem to have fallen under the false impression that once we unionize we will lose certain benefits such as the employer "match" contributions to our Guild 401(k) plans. In the 401(k) handbook it does mention "union employees" as not being eligible for the employer matching. Some of us may be fixated upon this ambiguous standard, seeing it as an indication that we will be forced to sacrifice the "match" when we become members of the staff union. The question we SHOULD be asking is where in the 401(k) booklet is continuing eligibility for the program guaranteed for Guild staff? ANYWHERE? The solution to that is what we've all been saying for a while now, "Let's get it in writing!" Anyway, here is one lawyer's personal opinion on this.
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The 401(k) handbook implies that if we were unionized employees that we would not be eligible for the plan -- this is NOT TRUE. If we have a union, the plan document will be changed to reflect who is eligible (unionized and non-unionized employees).

Whether or not to offer a 401(k) plan for its employees is a decision of the WGAW management. The Guild can decide to terminate the plan, to eliminate or reduce the employer "match". However -- THE MONEY THAT IS IN THE PLAN IS YOURS. Neither the plan nor the Guild can take away contributions made by employees themselves or, after an employee vests in the plan, any employer "matched" contributions (so if you've been at the Guild 5+ years, it's all yours.)

This is a red herring. The 401(k) plan is not in danger.

-- Anonymous, Esq.
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