Union employees at the Motion Picture and Television Fund have ratified a three-year deal, covering about 500 staff members.

The deal includes 1% annual pay increases and bonuses, according to SEIU-UHW spokesman Sean Wherley said. MPTF CEO Bob Beitcher noted that the deal includes a shift in the retuirement plan from a defined benefit pension plan to a 401 (k) defined contribution.

“We think it’s a win for both sides,” Beitcher said.

The union had been set to go on strike last March before reaching an agreement for a 60-day cooling-off period. The dispute had last more than a year, with the master contract lapsing during negotiations last year.

The new master contract goes into effect retroactively from Nov. 1, 2012, and runs through Oct. 31, 2015. Over 80% of members, which reps nurses, aides, records workers and other caregivers, voted in favor of ratification.

The MPTF offers charitable assistance to those in the entertainment industry, providing residential care, a 40-bed long-term care unit, a 30-bed memory impairment unit and half a dozen outpatient health centers.