IAP Retirement Funds are Available through December 31, 2024

Participants who are vested in the Motion Picture Industry Individual Account (“IAP” or “Plan”) and have an account balance of $1,000 as of the year ended December 2023, may apply for a one-time hardship withdrawal of an elected amount of need of up to 20% of their 2023 IAP account balance not to exceed a maximum dollar limit of $20,000.

Participants must apply for this special withdrawal between September 13, 2024 and December 31, 2024. If you previously took a withdrawal in 2020 or 2023, you are still eligible for this opportunity.

Participants who are requesting the maximum available amount of $20,000 will be allowed to “gross up” their withdrawal to account for federal and state tax withholdings (i.e., Participants are able to withdraw up to $20,000, excluding federal and state tax withholdings).

The application process for this withdrawal request is as follows:

The Participant must complete an 2024 Motion Picture Industry IAP Hardship Withdrawal Election Form;

The Participant must sign an affidavit affirming his or her present or impending severe financial losses as a result of ongoing unavailability of work in the entertainment Industry and that such losses cannot be made up from other resources.

If a Participant's IAP balance is $5,000 or higher, spousal consent is required.

Payments will be processed in accordance with instructions provided on the 2024 Motion Picture Industry IAP Hardship Withdrawal Election Form.

The application for the withdrawal is available at www.mpiphp.org under the “Assistance” tab.