Constitution and By-Laws Amendments Approved by
Wide Margin
In recently completed balloting, ATPAM members approved two amendments to the
Union’s Constitution and By-Laws. The approved amendments will take effect upon
endorsement by the International President of the IATSE.
Constitution
The amendment to the Constitution will provide for timely
re-investment of securities in the Union’s portfolio when those instruments have
matured or been called in by the issuer. The type of securities allowed for
purchase will still be governed by the Union’s investment guidelines and the
Board of Governors. However, the Secretary-Treasurer is now authorized to
purchase individual securities within those guidelines without additional
authorization from the Board.
By-Laws
The amendment to the By-Laws changes the Union’s death benefit from a
self-insured, taxable, benefit of $4,000.00 to a fully insured, tax-exempt life
insurance benefit of $7,500.00 for members who die before their 65th birthday.
Between ages 65 and 70 the benefit is $4,000 and is fully insured and tax
exempt. For those over age 70, the benefit remains at the current level and continues to
be self-insured by the Union. This formula was negotiated with the insurance
carrier based on mortality tables to keep the annual premium affordable to the
Union while providing the maximum benefit possible to the membership.
For complete election results visit the
Members Only Section. |
