According to Variety and conformed by the SAG-AFTRA website, in the first major contract to come up for renewal by SAG-AFTRA since members approved merging the two entities, SAG-AFTRA leaders have approved a new three-year commercials contract. The union’s national board unanimously approved the deal reached with the ad industry on April 6.

Key provisions call for a 6% wage hike and for Pension and Health contributions to increase from 15.5% to 16.8%.

The contract will be retroactive to April 1 and  currently covers about $1 billion in annual earnings. It will see increases in payments of $238 million over its term via wage increases and other payments, improvements in cable use fees, increases in payments for work on the Internet and new media platforms, and an increase in the late payment fee.

“This is a great deal for SAG-AFTRA members,” said SAG-AFTRA co-president Roberta Reardon, head of  the negotiations committee. “We made important gains on these contracts that provide our members with the solid foundation they need to sustain their careers and families.”  The board also approved online voting for ratification as well as traditional paper ballots to ratify the commercials deal.

For frequently asked questions, check out the wonderful SAG-AFTRA Performers website here.