National Musician’s Union Pension Cuts Could Impact Louisville Perfo...

National Musician’s Union Pension Cuts Could Impact Louisville Performers  89.3 WFPL News Louisville

The American Federation of Musicians and Employers’ Pension Fund (AFM-EPF) is the country’s largest musician’s union — one that represents 80,000 professionals in North America, including members of the Louisville Orchestra. Last week, the AFM-EPF announced the organization is nearing “critical and declining” status; this means the fund is projected to run out of money to pay benefits — becoming insolvent — within 20 years. In a statement posted on their website, AFM-EPF leaders wrote: “There is no practical way that investment returns and contribution increases alone will be able to close ...