QUESTIONS AND ANSWERS ABOUT THE TV WRITERS' FUND FOR THE FUTURE ("FFF")
1. How much money will be in the FFF?
Answer: It will start out with $1.5 million. That money will earn income that will stay in the Fund. In addition, Class Counsel expect that about a million dollars will be contributed from the Class Counsel's legal expense fund, initially set aside to pay future expenses in the settlement claims process and other costs. In addition, the FFF will be the sole beneficiary of the residue remaining upon the termination of the Qualified Settlement Fund. The residue will consist of reserves for taxes, unclaimed distribution checks, and the like when those reserves are closed out. Of course, there will be expenditures from the Fund for its activities, including the distribution of grants, loans and awards, and administrative expenses, after the Fund becomes operative. The Fund will also be able to accept contributions from other sources when it transitions to a non-profit in a future year.
2. Who will manage the FFF?
Answer: The Settlement Agreements provide for a Board of Governors consisting of Settlement Class Members, an Executive Director and the two Trustees of the Qualified Settlement Fund in these cases, to oversee the FFF. The Trustees will choose the initial Board members from among the nominees – interested settlement class members are invited to nominate themselves or other members of the settlement class to serve on the Board. Board members serve without pay. Future Board members will be elected bi-annually in accordance with procedures to be established. The Executive Director, a paid position, will be selected by the Board, with the approval of the Trustees. The money in the fund will be managed with professional financial advice.
3. What activities will the FFF fund and how?
Answer: With legal guidance, the Board will publish the rules for making these decisions. It will allocate the money among different activities, decide on an annual “spending rate,” and determine the procedures for settlement class members to apply for grants and loans for specific purposes, consistent with the Settlement Agreements. You can read the applicable terms in the settlement by clicking here.
4. Who can apply for a grant from the FFF?
Answer: Only a settlement class member is eligible to receive a grant or any other benefits from the FFF. A settlement class member who waives the right to receive a grant or other benefits from the FFF in return for an extra $150 to $500 in his or her award from the settlement claims fund is not eligible to participate in the Fund later.
5. When will the FFF become operative?
Answer: The FFF becomes operative after the Effective Date of the Settlement Agreements. This will happen about two months after final approval of the settlement and will likely be in the summer of 2010. No money can be dispensed from the FFF for any purpose before the Effective Date.
6. How can I find out what is happening with the FFF?
Answer: This Web site will provide ongoing information about the FFF, including information about the Board, the Executive Director, the procedures for obtaining grants and loans, sponsored events and an annual accounting of funds.
For the actual settlement language, go to the page on this site for Future Activities.
If you have other questions about the FFF, contact Class Counsel. Click here for contact information.