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MLB Owners want to abolish pensions

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Personnel pensions on cutting block

Major League Baseball owners, despite boasting $8 billion in annual revenue and climbing, are moving toward eliminating the pension plans of all personnel not wearing big league uniforms, sources told ESPNNewYork.com.


The first attempt to do so, initiated last year by a small-market owner, never came to a vote after Chicago White Sox owner Jerry Reinsdorf chastised his brethren for being petty with the lives of ordinary people given the riches produced by the sport. A vote, which was intended to be kept secret, is now scheduled to take place at owners meetings May 8-9 in New York.


A majority of owners now favor the abolition of the pension plan, a source said.


The impact would affect much of the Major League Baseball family: front-office executives, trainers, minor league staff and scouts. Some of those personnel, particularly on the minor league level and in amateur scouting, make less than $40,000 a year and rely on pensions in retirement.




.....sucks if you arent wearing a big league uniform


i blame Obama


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This is a leftist slanted headline if I ever saw one. Please read the whole article first before you assume MLB Jaintors and secretaries won't have a pension anymore. They are simply trying to give each team the freedom to choose the pension plan that meets their needs. Currently all MLB teams use a defined contribution model which can be costly If the employees are with the team for any great length of time. Most companies scrapped defined contribution plans years ago in favor of 401ks and 4013bs a long time ago. The fact that the government and the unions in the public sector is the number one reason why the state taxes are so high.

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"What this is about is allowing clubs that opt out to have more flexibility in designing their benefits."


Reading between the lines, what this is about is allowing clubs that opt out to offer nothing at all. The article, which I read in its entirety at MHD's suggestion, said that clubs would likely immediately "hard freeze" all contributions - meaning that as soon as this passed, they would cut off any future payments. Nothing "leftist" about it. This is about screwing the little guy while the guys on the field make millions.

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I suspect that the pension will be frozen and replaced with a 401k. MLB is actually behind the curve compared to most large businesses. Pensions are long term financial commitments. 401k costs, if there is any employer matching, are one time costs with minimal overhead to run. They are no better or worse than most employers.

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