David Robb Labor EditorThe Entertainment Union Coalition is hailing a bill signed into law by California Governor Gavin Newsom that will make it easier for workers to borrow from their employer-sponsored pension plans.
EUC members include SAG-AFTRA, the California IATSE Council, Laborers Local 724, and Teamsters Local 399.“In these difficult times, our members across California need access to their retirement funds to support themselves and their families during the current COVID pandemic,” EUC said in a statement, noting that the new law “will allow them to do that without incurring a penalty or unintended income tax payments.” The legislation – AB 276 – which was authored by Assembly member Laura Friedman, passed through the California.
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