As advised in Bulletin #7475, dated January 11, 2013, contributions to the AfofM Pension Plan under the AFofM 2012-2013 Commercial Announcements Agreement increased by one percent (1%) from 13.08% to 14.08% for new music tracks recorded on or after January 1, 2013.
Because of the fiduciary obligations of the ANA-4A's JPC as employers and trustees under this fun, effective May 1, 2013, the JPC has agreed to the following addition:
The new Pension Fund contribution of 14.08% will also apply to music tracks produced under prior AFofM Commercials Agreements where such music tracks are integrated into new commercials produced on or after May 1, 2013. This would apply to dub fees, conversion fees and re-use fees where applicable for any music track, regardless of the date of the original recording session, that is integrated into a new commercial where such new commercial is produced on or after May 1, 2013.
In addition, as clarification, the new Pension Fund contribution of 14.08% also applies to the use of a music track that was produced under other AFofM collective bargaining agreements (e.g., the AFofM Sound Recordings Agreement or the AFofM Motion Picture and TV Film Agreement) and integrated into a commercial where such commercial is produced on or after May 1, 2013.