Need Help understanding something Please

by white02slpss on Feb 28, 2009 9:14 AM CST Comment 3 comments

I have a few questions that I hope someone help me with. concerning Players pay and the Labor agreement.

Let's use Collins as an example. He just signed a 2-yr Deal with 8.5 Mil Guarrented. If he plays both years he get's the full amount.. assuming he hits any bounus. My first question is.. Does any of the Money he makes go towards Retirement? Do NFL players have a 401K?

My next question is... The owners opted out of the recent labor agreement because the players get 60%!!!!! of the revenue that the NFL and Teams make. Now my question here is.. Where and Who the hell get's that 60%? I know it's the players, but do players get paid plus a yearly cut of the revenue? Are they double dipping in other words? Besides game checks do the players get a end of year revenue check? Is the 60% part of a 401K matching type deal? The union doesn't get it because the players pay union fee's and that is what pays the officers and run's the union..

I hope someone can help answer my questions..

Thanks!

0 recs | Comment 3 comments

Story-email Email Printer Print

Comments

I think.......

The following statements are what I believe to be true or part of true:

The 60% of the revenue has to do with the salary cap. The more the league makes the more the salary cap and the more a team will have to spend on its players. The 60% helps determine what the cap will be from year to year.

Players who complete 4 full years will become “vested”. Vested means that they will be eligible for pension benefits when they reach a certain age and it means they will be entitled to insurance benefits as well.

by TitanRob on Feb 28, 2009 9:53 AM CST reply actions 0 recs

401k/retirement

He can contribute whatever he wants to whatever retirement plan he wants. I somehow doubt the NFL has “employer matching” like most jobs offer. If he’s still our QB at 66 1/2, he’ll have to start taking distributions.

by joshuaboone on Feb 28, 2009 11:38 AM CST reply actions 0 recs

Check out this link

http://savannahnow.com/node/146538

After 2 years in the league, the club will match 2 dollars to every 1 dollar the player contributes into a 401 k, up to 20,000 dollars a year for the club.

by TitanRob on Feb 28, 2009 1:11 PM CST reply actions 0 recs