What really annoys NFL refs
The league and its officials may be close to a deal, but reportedly can't come to any resolution over a proposed switch from pensions to retirement plans that are less secure.
These guys get an average salary of $149,000 for part-time work, and most of them hold other jobs during the week. That's nothing compared with the $1.9 million average NFL player salary, but hey, it's a pretty nice haul.
That may be why salaries are not at the center of the dispute between the two sides. What's really bugging the refs are the league's proposed changes to their pension plans. "The key is the pension issue," the head of the NFL Referees Association told the Huffington Post. "A lot of our guys have made life-career decisions based on assuming that pension would be there."
This scenario has been hitting workers across America for decades. Companies have been very successful at moving employees from pension plans to 401ks and other plans that are cheaper and less secure.
Caterpillar (CAT), which made a record $4.9 billion profit last year, successfully pushed a pension freeze to many workers at its plant in Joliet, Ill., this year. Union members had been on strike for months, but in the end voted to give Caterpillar nearly everything it asked for.
General Motors (GM) moved 19,000 salaried workers to 401k plans this year and froze its traditional pension. IBM (IBM) froze its traditional pension plan years ago in favor of 401k's.
The public sector is seeing similar pension cuts. This week, the Los Angeles City Council gave the green light to a plan to roll back pension benefits for new workers.
About 70% of workers who do get retirement benefits only have a 401k option, writes Robert Hiltonsmith, a policy analyst for public policy group Demos. He adds that 401k's can be more expensive than the pooled-asset pension plans. They also give workers more responsibility -- and more risk -- in developing a retirement strategy.
One place where pensions have not disappeared? The National Football League, which has had a pension since 1959, reports Fox Business. Players get pension benefits for each season, and a player with five seasons between 1998 and 2011 would get $2,350 a month for life starting at age 55.
The league also has a 401k-type plan that matches as much as $2 for every $1 invested by the player. And players can also contribute to an annuity program after four seasons.
The league has contributed an average of $5.3 million a year to the referee pension plan over the last five years, reports Sports Illustrated. It would save about $3.3 million a year by moving refs over to a 401k-type plan.
The NFL and officials are negotiating, but by Wednesday afternoon the pension issue was still hanging. NFL Commissioner Roger Goodell has said that most of America no longer gets defined-benefit pensions, and the league owners see no need to keep giving it to officials.
"From the owners' standpoint, right now they're funding a pension program that is a defined benefit program," Goodell told the Huffington Post. "About 10% of the country has that. Yours truly doesn't have that. It's something that doesn't really exist anymore and that I think is going away steadily."
More from Top Stocks
- Barnes & Noble unveils 2 new tablets
- Airlines to passengers: Get used to bag fees
- Catch FedEx as its stock drops
$3.3 Million a year...
So if Green Bay doesn't get a home playoff game because of that loss, do you think that will cost the city more or less than $3.3 million?
Now why was video review instituted to begin with?....Could it have been that the regulars were not always getting it right?....
What you and your 'occupy' buddies don't seem to get is that the $'s have to come from somewhere. You can't just print them like Bernanke & Co. so love to do. How's that QE3 been treating you the last 2 weeks? Are you surprised we're coming off our sugar high now?
So, hooray for the unions that create ridiculous entitlements and employee 'rights' that are far from rights. You don't like the working conditions, find another job... we're far from the days of work environments that necessitated workers to unite. The only reason workers unite now is to bend the employer over the barrel without producing anything worth compensation. Just drive to any government job site and you'll see a great example of complete inefficiency. Or, anywhere in Chicago...
Again, if you don't like the work environment, find another job (If that's a sticking point because there are no jobs, ask your Pres. where those shovel ready ones went???) If no one will work for the company due to poor working conditions, then the company goes under or changes. Natural selection at its best.... and if you suck at your job, you're NOT protected. Your **** gets fired. Bunch of whining cry babies that were never told NO as a child. You don't get a trophy for playing, you get one for competing and excelling!
Actually, I believe that the NFL should make the following change: make pass interference REVIEWABLE! That's it.
Now, if you watch NFL football, you know the following: to make a catch, you must do (at least) the following: 1. Make the catch and secure the ball with your hands. 2. Have both feet hit the ground. 3. (Perhaps, not sure if it still applies but doesn't matter) Make some kind of a "football move," whatever that means. (Doesn't matter if you are a reveiver or a DB.)
So, the catch by the Seahawk player WAS legit, even if you don't like it. Why? The receiver grabbed the ball before the DB hit the ground, and so you have a tie, which goes to the receiver. However, there was obviously an offensive pass interference that should have been called that would have negated the catch.
Game over. But not the way you thought it was. . . .
Come on, they are making about 150k a year and im sure that they get travel
and lodging paid for. The season is 16 wks plus preseason that isnt bad wages
and yet its not enough. In my opinion they should be given the boot if no contract
is worked out by mid season. Make them reapply for their jobs and in the mean
time the replacement ref's will only get better and up to speed as familiarity with
the different rules increases. As for the replacement ref's if that time limit comes
to pass they have the option of full time employment..
Looks like some Part-time help wants a slam dunk....Just gimmee,gimmee my pension, and I don't want to have to make any decisions on my own, or how to invest in my future...
Sweet Geezus...guess I should have finished and became a Ref...
Real job $50-70,000 per year, reffing $149K per year and gimmee,gimmee two pensions,plus SS.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
The stock rises 9% after the company reveals strong second-quarter results.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.