The 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. E…
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.
The legislation – AB 276 – which was authored by Assembly member Laura Friedman, passed through the California Legislature with unanimous support, and brings California into conformity with provisions of the federal Coronavirus Aid, Relief and Economic Security Act, which removed penalties and improves access for those needing to take a loan from their employer-sponsored defined contribution plan.
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