- Aug 8, 2008
wow, the union screws the players, too!
Hopefully a player is important enough to be able to do card shows/sign trading cards when their pension years hit because they are likely to have blown their millions by then.
I'm not sure how to take your comment but the Union did exactly what the players wanted it to do. Guarantee the players an income off the ball field. The MLBPA know that the owners are raking in millions per season and all they want is their fair share. Most players dont make it to the 10yr threshold anyway, therefore the pension fund pays out significantly less than the $210,000 per player per year.
The pension seems meaningless for ballplayers -- that is my point. You'd think the pension amount at age 62 should be a good percentage of their salary. My dad's pension pays 80% of his salary the day he retired a few years ago and by the figures in the article, a MLB pension amount is only about 5% (thus the players get screwed on the pension). With baseball being a big business with limited amounts of people that qualify for a pension, you would think there would be lots of money to flow into the kitty that you'd get at least a million dollar a year pension for those that wait until age 62.
I do agree with another poster that it's better than just having what little social security is going to provide in the future.
The Union did their job by guaranteeing them salary of very livable proportions every year.
Not sure what your Dad did for a living but 80% pension is very generous. I just hope the company he works for doesnt have control of it and can'y stop contributing to it at their whim.
that'll be interesting to see if $210,000 when a MLB athlete takes their penson at 62 is a very livable salary considering all the stuff they may go through before then or how they've been able to cut back on their lifestyle when they aren't raking in millions each year. I even wonder how many, especially in the roid era, will even reach 62 and not have roid usage contribute to an early death.
dad worked for government so I think his pension is very safe. The govt likes to waste and spend, not tighten the belt like airlines (i have heard about pilot pension issues) and probably auto manufacturers in the future.