MLB owners move toward eliminating Non-Uniformed Personnel Pension Plan
March 19, 2013 / espnnewyork.com
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.
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A majority of owners now favor the abolition of the pension plan, a source said.
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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.
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"No one is suggesting that pension plans are going to be eliminated," (MLB executive vice president Rob Manfred) said. "What the conversation has been about is allowing individual clubs more flexibility as to what exactly their pension plan is going to look like. Nobody is suggesting there is going to be no plan ... for anybody. The issue is in the current arrangement we essentially mandate a particular type of defined benefit pension plan. The question is whether the individual team should have more flexibility to design a program that is effective to them."
http://espn.go.com/new-york/mlb/story/_/id/9070691/mlb-owners-want-abolish-pensions-personnel-sources-say
Guess who stands to gain and who stands to get screwed?
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