^ Honesty points!

I think they could do a better job setting up an annuity for each player and making players specifically opt out of it against the advice of the players association. At least I would like to see that. But I definitely understand your point. Maybe it is a little personal for me, those guys entertain the hell out of me and I don't want to see any of them suffer after they leave the league.

 

You want the league to require each player to turn their salary into an annuity unless the individual opts out?

You want the league to require each player to turn their salary into an annuity unless the individual opts out?

 

A small portion and the next time the league signs a new TV deal and gets a ton of extra cash would be the perfect time to do it.

Why do you feel the league has a responsibility to give financial guidance to it's employees?

 

To be fair most good large employers offer this to their employees now.

To be fair most good large employers offer this to their employees now.

 

I'll take your word for it, but the ones I've been around don't, and they're very well known reputable companies.

I'll take your word for it, but the ones I've been around don't, and they're very well known reputable companies.

 

If your company offers a 403b/401k and they are with a large financial institution it is becoming more common to have one or multiple CFP's available to employees.

 

Historically it was mostly just in the tax exempt markets i.e. Higher ed and Hospitals. But Fortune 500 companies are starting to realize their fiduciary responsibility.

To be fair most good large employers offer this to their employees now.

 

We have about 80 employees give or take, we have an awesome program for these type of things. In fact there is an office in our other building on campus known as the "Wellness office" In which on different days of the week people from our wellness groups are in our offices to talk about xyz. Health Insurance lady on Mondays, 401K guy on Tuesdays, Home health (all sorts of wellness items in that) on Wednesday, Physical Wellness and diet on Thursdays.

 

Its in our other building so I dont know how much people are in one on one meetings with those people but its a very good thing we have. Ive talked to the 401K guy a few times when he has been here.

If your company offers a 403b/401k and they are with a large financial institution it is becoming more common to have one or multiple CFP's available to employees.

 

Historically it was mostly just in the tax exempt markets i.e. Higher ed and Hospitals. But Fortune 500 companies are starting to realize their fiduciary responsibility.

 

I'll also add I've only ever been on the accounting and finance side of things so maybe companies consider these things common knowledge for people in those fields? :idunno:

I'll also add I've only ever been on the accounting and finance side of things so maybe companies consider these things common knowledge for people in those fields? :idunno:

 

Like I said it's still a work in progress in the for profit sector but I expect it to be almost everywhere in the near future.

 

With pensions all but extinct employees need more help.

You want the league to require each player to turn their salary into an annuity unless the individual opts out?

 

Many large companies automatically sign you up for a 401k unless you opt out also? No difference. Does the NFL offer any type of 401k? I know they have a pension.

Many large companies automatically sign you up for a 401k unless you opt out also? No difference. Does the NFL offer any type of 401k? I know they have a pension.

They have a 401K.

Many large companies automatically sign you up for a 401k unless you opt out also? No difference. Does the NFL offer any type of 401k? I know they have a pension.

 

Yes. They do, and I know the NBA does. I'd assume MLB as well.

Not when you don't have any money left to make up for the shortcomings of the NFL plans.

 

In short, it is a rare bird that is prepared to manage millions when they are 22 years old, I think the NFL has a duty to protect those young men.

While I agree with your intentions I think they are misplaced. This is all 100% on the NFLPA. The union should be educating their players, making sure there are safety nets in place for insurance after they retire, investments, ect. The players get their cut in the form or $'s and think life is good. Then they want to cry when their done playing and are broke.

While I agree with your intentions I think they are misplaced. This is all 100% on the NFLPA. The union should be educating their players, making sure there are safety nets in place for insurance after they retire, investments, ect. The players get their cut in the form or $'s and think life is good. Then they want to cry when their done playing and are broke.

 

I agree the NFLPA should be active on this issue too and you are right it is probably foremost their responsibility.

I agree the NFLPA should be active on this issue too and you are right it is probably foremost their responsibility.

This is similar to the issue with the commish having so much power in punishments and appeals. The players were so busy squeezing every dime they could out of the league, they forgot to take care of the little things.