Jane Fonda, Dolly Parton to present Lily Tomlin with SAG award

This year's SAG Awards will also serve as a "9 to 5" reunion.

It was announced Tuesday that costars Jane Fonda and Dolly Parton from the hit 1980 movie will present Tomlin, who was also in the film, with the SAG Life Achievement Award at theĀ 23rd Annual SAG Awards.

Tomlin is being recognized for her extraordinary career in Hollywood. Tomlin can add this to her many accolades, which include two Peabody Awards, six Emmy Awards, a Grammy and a 2014 Kennedy Center Award.

"Tomlin has been a cherished star in the entertainment firmament since she joined the groundbreaking television series 'Rowan and Martin's Laugh-In' in 1969, when it was rated the No. 1 show and watched by over 25 percent of all American television viewers," a statement from the SAG Awards said. "She and the colony of characters she created have continued to evolve, grow, deepen and adapt to this day, as Tomlin expresses her talents in nearly all forms of media."

Tomlin currently costars in and is the co-executive producer of the Netflix show, "Grace and Frankie" alongside Fonda.

The SAG Awards will air live January 29 at 8 p.m. on TNT and TBS (both owned by CNN's parent company, Time Warner).