Broadway Musicians Earn Largest Wage Increase in Two Decades
(NEW YORK CITY) - After more than four months of deliberations, Associated Musicians of Greater New York/American Federation of Musicians Local 802 has announced the Union has secured a three-year contract with the Broadway League and Coordinated Bargaining Partners that will increase health care contributions by 23%, implement a new 401(k) plan, and bolster wages by 3.5% in each year of the agreement, which runs through March 2nd, 2022.
“The Broadway League knows that a big part of their success is the ability to attract and retain the best Musicians in the world,” Local 802 President Adam Krauthamer said. “With this contract, they have solidified that bond.”
The increase in health care will rise by 15% in year one and by 3.5% over years two and three, following a decade-long inflation in health costs of over 70% that would have forced cuts and restrictions to Musicians - had it not been for the latest agreement.
The 401(k) plan offers Musicians the opportunity to buttress their retirement security, allowing Members to set aside $19,000 or $25,000 at age 50 or older for their 401(k) per year.
Local 802 Members voted to approve the contract by a large margin of 93%.
The Associated Musicians of Greater New York, Local 802/American Federation of Musicians represents more than 7,500 New York City Musicians, who perform at Carnegie Hall, on Broadway, at Lincoln Center and Radio City.
“We are proud of the improvements we were able to secure in this contract,” Krauthamer said. “This is a big step in the right direction for the Musicians of Broadway.”
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