SAG-PRODUCERS PENSION PLAN
3601 W. Olive Ave., Burbank, CA 91505 • Mailing Address: P.O. Box 7830, Burbank, CA 91510-7830
P (800) 777-4013 • F (818) 973-4467 • www.sagaftraplans.org/sag-pension
Special Tax Notice Regarding Plan Payments
u are receiving this notice because all or a portion of a payment you are receiving from the Screen Actors Guild-
Producers Pension Plan (Plan) is eligible for rollover into an IRA or an employer plan. This notice is intended to help you
decide whether to do such a rollover, although the Plan and its officers and employees cannot provide tax or financial
advice. Because these rules are complex and contain many conditions and exceptions which we do not discuss in this
notice, you may need to consult with a professional tax advisor before you receive your distribution from the Plan.
An eligible employer plan is not legally required to accept a rollover. Before you decide to roll over your payment
from the Plan to another employer plan, you should find out whether the other plan accepts rollovers and, if so, the
types of distributions it accepts as a rollover. You should also find out about any documents that are required to be
completed before the receiving plan will accept a rollover. Even if a plan accepts rollovers, it might not accept
certain rollover distributions, such as after-tax amounts. If this is the case, and your distribution includes after-tax
amounts, you may wish, instead, to roll over your distribution to a traditional IRA or a qualified plan. If an employer
plan accepts your rollover, the plan may restrict subsequent distributions of the rollover amount or may require your
spouse’s consent for any subsequent distribution. A subsequent distribution from the plan that accepts your rollover
also may be subject to different tax treatment than distributions from this Plan. Check with the receiving plan prior
to rolling over your balance. If you have questions, please contact the Plan at (800) 777-4013.
Please read the following section on frequently asked questions about rollovers section. Special rules that only apply
in certain circumstances are described in the “Special rules and options” section.
Frequently asked questions about rollovers
How can a rollover affect my taxes?
You will be taxed on a payment from the Plan if you do not roll it over (transfer it) to an IRA rollover account or
another similar qualified plan. If you are under age 59
and do not do a rollover, you will also have to pay an
additional 10% income tax on early distributions (unless an exception applies). However, if you do a rollover, you
will not have to pay tax until you receive payments later and the additional 10% income tax will not apply if those
payments are made after you are age 59
(or if an exception applies).
Where may I roll over the payment?
You may roll over an eligible rollover distribution either to a Roth IRA, a traditional IRA or an eligible employer plan
that accepts rollovers. An "eligible employer plan" includes a plan qualified under Code Section 401(a), including a
401(k) plan, profit sharing plan, defined benefit plan, stock bonus plan (including an ESOP), and money purchase
plan; a Section 403(a) annuity plan; a 403(b) plan; and an eligible Section 457(b) plan maintained by a
governmental employer (governmental 457 plan). Special rules apply to the rollover of after-tax contributions. You
may not roll over any distribution to a simple IRA or a Coverdell Education Savings Account (formerly known as an
How do I do a rollover?
There are two ways to do a rollover. You can do either a direct rollover or a 60-day rollover.
If you do a direct rollover
, the Plan will make the payment directly to your IRA or an employer plan. You should contact the
IRA sponsor or the administrator of the employer plan for information on how to do a direct rollover.