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Interesting Read: MLB Player's Pensions

rsmath

Active member
Nov 8, 2008
6,084
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.
 

predatorkj

New member
Aug 7, 2008
11,865
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.

Huh? Better than social security I say.
 

fordman

Active member
Feb 22, 2013
3,181
Ohio
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.

I'm in the UAW and my pension right now it $6200 per month. I'll gladly pay my Union dues of $2 per month (retired dues structure) for the $6198 difference.

Fordman
 

rsmath

Active member
Nov 8, 2008
6,084
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.
 

fordman

Active member
Feb 22, 2013
3,181
Ohio
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.

That's the trade off in the collective bargaining agreement. Individual contracts with no payout ceiling while they are a player but with a guaranteed income stream at government retirement age. Mickey Mantle, Stan Musial, Joe DiMaggio would have loved to have been a part of the MLBPA with the benefits. You wouldnt have seen them signing every weekend somewhere until the day they died.

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.

Fordman
 

rsmath

Active member
Nov 8, 2008
6,084
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. ;)
 

predatorkj

New member
Aug 7, 2008
11,865
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. ;)

With what a professional athlete makes, and with them kind of knowing at best, they have a 20 year career, but probably much shorter, they should be able to gauge how their lifestyle will be and purchase everything they want and have it done by the time they retire from baseball. If I were a lower tier player and not a super star, I'd even consider staying on as a coach in some capacity so I could keep a solid income until I did retire or was at that age.

People ran into problems when they started buying private jets or 50 million dollar homes. Taxes on a 50 million dollar home would wipe away any pension you'd have. Just got to play it smart.
 

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