SAG-AFTRA’s Unclaimed Residuals Fund Grows To $76 Million – Up 60% In 6 Years
deadline.comSAG-AFTRA’s unclaimed residuals fund has grown to roughly $76 million – up 60% from $48 million six years ago. According to the union, the fund now contains 124,000 separate accounts for members and others, living and dead, that it can’t locate.
That’s up from 96,000 accounts in 2016.“The funds may be unclaimed for a variety of reasons including a bad address or as a result of mail returned for other reasons; unresolved estate issues, or the funds may be in trust for an inactive or dissolved loan out corporation,” a spokesperson for the union said. “Most often, residuals may be waiting for a recipient or their agent to formalize a change of address or submit the appropriate paperwork to claim the funds.
The union uses a number of tools to locate and get money to those individuals due unclaimed residuals including mail, email and telephone outreach to last known address and telephone number, and published notices in the magazine, on its website and elsewhere.”SAG-AFTRA Owes $48 Million To 96,000 Members It Can’t FindUnclaimed residuals continue to pour into the accounts long after members are dead if their rightful heirs can’t be located, or their estates are involved in legal disputes.SAG-AFTRA’s In Memoriam page lists 121 members who died last year, and a review by Deadline shows that 70 of their estates are owed unclaimed residuals.
They include the heirs of Cicely Tyson, Christopher Plummer, Hal Holbrook, Cloris Leachman, Tanya Roberts, George Segal, Melvin Van Peebles, Jessica Walter, Larry King, Norm Macdonald, Gavin MacLeod, Jackie Mason, Ned Beatty, Olympia Dukakis and Jane Powell.
Read more on deadline.com
