Directors Guild Pension-Health Plans Approve Emergency Loans to Members

The Directors Guild of America-Producers Pension and Health Plans have approved allowing emergency loans to members from the supplemental benefit plan for the next three months starting on May 1 through July 31.

The Board of Trustees announced Tuesday that it had voted unanimously to approve the initiative to assist participants experiencing financial hardship during the unprecedented work stoppage due to the COVID-19 crisis.

“Before applying for a loan, participants are encouraged to seek alternative means of support in order to preserve your retirement funds to the extent possible and ensure the availability of adequate financial resources during your later years,” the board said. “Other options may include bank loans or other emergency resources, including those provided by the various relief funds available to entertainment industry workers, such as the DGA Foundation in association with the Motion Picture Television Fund.”

The announcement came a day after the plans approved three months of premium-free coverage to Health Plan participants. The plans said Monday that the move is aimed to address the coronavirus outbreak impacting DGA participants losing eligibility on July 1, 2020.

The DGA represents more than 18,000 members. Eligibility for the health plan, which is operated jointly by reps of the DGA and management, is based on meeting earnings thresholds for the four previous quarters.