Entertainment Workers Pull $44 Million From Retirement Plans Amid Strikes
variety.comGene Maddaus Senior Media Writer Entertainment workers have moved to take more than $44 million out of their individual retirement accounts as they endure months without work due to the strikes.
Nearly 3,000 workers have filed for hardship withdrawals, according to an update circulated on Friday by the Motion Picture Industry Pension and Health Plans.
The average withdrawal is about $15,000. The figures, which were confirmed by two labor sources, show the scale of the economic hardship facing Hollywood’s below-the-line workforce, which includes set painters, grips, craft service workers, drivers, cinematographers, costumers, hair and makeup artists, and many others.
The Writers Guild of America strike began on May 2, shutting down most scripted TV and film productions. But work had already been slow for several months before that.
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