American Federation of Musicians and Employers' Pension Fund

What American Federation of Musicians and Employers' Pension Fund does

The American Federation of Musicians and Employers' Pension Fund (AFM-EPF), established in 1959, is a defined benefit multi-employer pension plan serving members of the American Federation of Musicians. It provides lifetime retirement pension benefits (available as early as age 55), disability pension benefits, pre- and post-retirement death benefits for spouses and beneficiaries, and re-retirement/re-determination benefits for participants who continue working in covered employment. The Plan is funded entirely by employer contributions made pursuant to Collective Bargaining Agreements between contributing employers and the AFM or its affiliated Local Unions; participants themselves are neither required nor permitted to contribute, and there are no participant refunds.

The Fund is jointly governed by a Board of Trustees with equal Union and Employer representation, and is regulated as a tax-qualified plan under ERISA, with pension benefits insured by the PBGC up to statutory limits ($35.75 per month times years of service). A small in-house Fund Office (11–50 employees, headquartered at 14 Penn Plaza, New York) operates the participant-facing technology stack, which consists of the afm-epf.org website, a secure Participant Portal for self-service benefit management, and an online Pension Estimator; back-office functions are outsourced to specialist vendors including Cambridge Associates (Outsourced Chief Investment Officer), Opus Investment Advisors (independent monitoring fiduciary), Milliman (actuarial services including annual critical-status certification), Withum Smith+Brown (audit), and Cohen, Weiss and Simon LLP and Proskauer Rose LLP (legal counsel).

The AFM-EPF has been certified in critical (red zone) status under the Pension Protection Act of 2006 since April 2010 and has operated under a continuously updated Rehabilitation Plan since that date, with the most recent restated Plan Document effective January 1, 2025. Distribution of services occurs through the participant portal, the Fund Office, and AFM Local Unions that act as contribution-remittance intermediaries across live theatre, motion picture, television, commercials, music videos, and casual engagement segments; cross-border service reciprocity exists with the AFM & Employers' Pension Welfare Fund (Canada).

Name

American Federation of Musicians and Employers' Pension Fund

Legal name

American Federation of Musicians and Employers' Pension Fund

Website

https://afm-epf.org

Company type

Private

Founded year

1959

Operating status

Operating

Headcount range

11–50 employees

Short description

The American Federation of Musicians and Employers' Pension Fund (AFM-EPF) is a defined benefit multi-employer pension plan, established in 1959, that provides retirement, disability, and survivor benefits to musicians working under AFM collective bargaining agreements across live theatre, film, television, commercials, and recording.

Ownership category

akta.pro rank

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Others, Marketing or Sales

Revenue model

1. Employer Contributions: The Plan is funded entirely by contributions from contributing employers made in accordance with Collective Bargaining Agreements. The contribution percentage rate and Covered Earnings are established under the applicable CBA. Plan Participants are neither required nor allowed to make contributions to the Fund on their own behalf. There are no 'refunds' to Participants of any amounts contributed to the Fund on their behalf.

Distribution channels3 records

Marketing channels4 records

Core offering

The AFM-EPF is a defined benefit multi-employer pension trust that delivers lifetime retirement, disability, survivor, re-retirement, and re-determination pension benefits to musicians who earn Covered Earnings from contributing employers under Collective Bargaining Agreements with the American Federation of Musicians. The Fund is funded entirely by employer contributions and operates a Participant Portal and Pension Estimator for member self-service. Benefits are jointly governed by Union and Employer Trustees and insured by the PBGC up to statutory limits.

Product overview

AFM-EPF is a defined benefit multi-employer pension plan for members of the American Federation of Musicians. The organization offers a unified suite of pension management services centered around a Participant Portal with integrated Pension Estimator functionality. The core products include various pension benefit types: Regular Pension Benefit (available at age 55+), Disability Pension Benefit, Re-retirement Pension Benefit (for those returning to work after initial retirement), Re-determination Benefits (for continued work after normal retirement date), Pre-retirement and Post-retirement Death Benefits, and Retirement Account Benefits for legacy participants. Plan documents and forms are available for download, covering Summary Plan Description, Full Pension Plan Document, Trust Agreement, and rehabilitation plan materials. The participant-facing digital platform enables pension estimation, beneficiary management, and pension application processing.

Differentiator

Problem solved

Functional benefit

Products and services

• Participant Portal Online self-service portal that allows Plan Participants to access their pension information, view personal details, use the pension estimator, manage beneficiary designations, and complete pension applications.
• Pension Estimator Online estimation tool available to registered participants that allows them to project their future pension benefits based on current contribution data.
• Regular Pension Benefit Monthly lifetime pension benefit available to vested participants at or after age 55, calculated based on benefit-eligible contributions and age at pension effective date, with options including single life, 50% Joint and Survivor, and 75% Joint and Survivor benefits.
• Disability Pension Benefit Pension benefit for eligible participants who cease covered employment due to total disability, requiring at least 10 years of vesting service and meeting total disability determination criteria.
• Re-retirement Pension Benefit Additional pension benefit earned when a participant returns to covered employment after beginning their initial pension benefit but before reaching normal retirement date.
• Re-determination Benefits Additional pension benefits earned by pensioners who continue working in covered employment after their normal retirement date, calculated annually based on new contributions.
• Pre-retirement Death Benefit Benefit payable to a vested participant's spouse or designated beneficiary if the participant dies before beginning to receive their pension benefit.
• Post-retirement Death Benefits Survivor benefits paid to a participant's joint annuitant after their death, with payment amounts based on the elected benefit form (50% or 75% Joint and Survivor Benefit).
• Retirement Account Benefit (RAB) Benefit type potentially available to eligible participants who had covered earnings with the Plan prior to 1968.
• Plan Documents and Forms Downloadable documentation including the Summary Plan Description, Full Pension Plan Document, Agreement and Declaration of Trust, Rehabilitation Plan, and various application forms for participants, employers, and locals.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

15 partnerships are on record, tiered core and minor.

• U.S. Department of LaborcoreOthersGovernment agency that regulates pension plans under ERISA. The AFM-EPF files Form 5500 with the Department of Labor and operates under their regulatory framework.
• Internal Revenue Service (IRS)coreOthersFederal tax agency that governs pension plan tax treatment. The Plan operates as a tax-qualified retirement plan under IRS regulations and limits annual benefits and covered earnings.
• Social Security AdministrationminorOthersFederal agency providing retirement and disability benefits. The AFM-EPF pension benefit is designed to supplement Social Security benefits.
• Pension Benefit Guaranty Corporation (PBGC)coreOthersFederal insurance agency that insures multiemployer pension benefits. The AFM-EPF is a multiemployer plan insured by PBGC, which guarantees benefits up to statutory limits ($35.75 per month times years of service).
• American Federation of Musicians (AFM)coreStrategic or Co-development PartnerThe Union co-founded and co-governs the AFM-EPF through its Board of Trustees. The Fund is established through collective bargaining between AFM and employers. Equal Union and Employer representation on Board of Trustees.
• American Federation of Musicians & Employers' Pension Welfare Fund (Canada)minorStrategic or Co-development PartnerRelated Canadian pension fund. Vesting service under the Canadian plan may be combined with Vesting Service under this Plan in certain circumstances.
• AFM Film Musicians Secondary Markets FundminorOthersRelated AFM-affiliated fund providing secondary markets payments to film musicians.
• AFM Sound Recording Special Payments FundminorOthersRelated AFM-affiliated fund for sound recording special payments.
• Music Performance FundminorOthersRelated AFM-affiliated fund supporting live music performances.
• Cambridge Associates, LLCcoreOthersOutsourced Chief Investment Officer (OCIO) responsible for investment management of Fund assets.
• Opus Investment Advisors, LLCcoreOthersOCIO Independent Monitoring Fiduciary providing oversight of Cambridge Associates' investment management.
• Milliman, Inc.coreOthersActuarial consulting firm providing actuarial services including annual certification of plan status (critical status/red zone determinations) and benefit calculations.
• Withum Smith+Brown, PCcoreOthersCertified Public Accounting firm providing annual audit services for the Fund.
• Cohen, Weiss and Simon LLPcoreOthersLegal counsel providing legal services to the Fund.
• Proskauer Rose LLPcoreOthersLegal counsel providing legal services to the Fund.

Recent moves5 records

Expansion highlights4 records

Others

• Cambridge Associates: Outsourced chief investment officer retained by AFM-EPF to manage plan assets. An enabling service provider rather than a peer, but the most relevant comparable outsourced-CIO relationship for institutional pension management.
• Pension Benefit Guaranty Corporation (PBGC): Federal agency that insures multi-employer and single-employer defined benefit pension benefits. Not a competitor but the regulator and guarantor of AFM-EPF benefits and a key counterparty in any critical-status outcome.

Direct peers

• Central Pension Fund of the International Union of Operating Engineers: Large multi-employer defined benefit pension plan for operating engineers in construction and stationary engineering. Comparable multi-employer structure, joint union-employer governance, and PBGC-insured benefit design.
• Teamsters Central States, Southeast and Southwest Areas Pension Fund: One of the largest multi-employer defined benefit pension plans in the U.S., covering Teamsters in trucking and related industries. Directly comparable multi-employer DB structure; notable peer because of its well-publicized critical and declining-status history, which parallels AFM-EPF's funding challenges.
• IATSE National Pension Fund: Multi-employer defined benefit pension plan for stagecraft and motion picture technicians covered by the International Alliance of Theatrical Stage Employees. Directly comparable entertainment-industry multi-employer pension structure serving freelance entertainment workers.
• Actors' Equity Association Pension Fund: Multi-employer defined benefit pension plan for stage actors and stage managers working under Actors' Equity Association contracts in live theatre. Closely comparable in mission (performer retirement security) and multi-employer structure.
• Directors Guild of America – Producer Pension Plan: Multi-employer pension plan for directors, unit production managers, and assistant directors working under DGA collective bargaining agreements. Same industry, same joint-union/employer governance model as AFM-EPF.
• Sheet Metal Workers National Pension Fund: Multi-employer defined benefit pension plan for sheet metal workers under collective bargaining. Comparable multi-employer governance and PBGC insurance framework.
• Writers Guild of America – Industry Pension Fund: Multi-employer defined benefit pension plan for writers in film, television, and streaming under WGA collective bargaining agreements. Directly comparable in structure, governance, and entertainment-industry focus.
• SAG-AFTRA Producers Pension Plan: Multi-employer defined benefit pension plan covering actors and other performers in film, television, and broadcast media, governed jointly by SAG-AFTRA and producer employers. Directly comparable to AFM-EPF in structure, governance, and entertainment-industry participant base.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about American Federation of Musicians and Employers' Pension Fund