A bill introduced in the state Assembly would create a state-run pension fund for mixed martial arts fighters in California, which hosts more MMA fights than any other state.
Assembly Bill 1136, introduced by Assemblymember Matt Haney, D-San Francisco, would require event promoters to earmark a portion of ticket sales to help these athletes have guaranteed income after retirement, according to a press release from Haney’s office.
The bill to create the MMA Fighters Pension Fund was supported by former MMA fighter Ronda Rousey.
“This bill is one of the first times I’m seeing folks think of these athletes as people rather than just a product,” she said in a statement. “And this bill isn’t just good for the fighters, it’s good for California. Fighters have a say in where fights are located, and they’re going to choose to have fights here in California because it’s an investment in their future.”
The bill would require $1 per ticket sold to be invested into the fund, along with a percentage of sales from merchandise and other revenue sources. Fighters would become eligible after the age of 50 if they fought in at least 14 competitions in California. The amount of money they will be eligible for will depend on the length of their career and number of fights in California.
No state funding would be dedicated to the fund, according to Assemblyman Haney.
“This pension fund is the right thing to do,” he said. “It allows these athletes to save money for their retirement and creates a financial safety net to pay for medical bills. It’s the first of its kind in the world of MMA and it’s an important step to support these athletes who make MMA one of the fastest-growing sports in the world.”
A similar fund exists in California for boxers who have competed in the state. A.B. 1136 would extend the program to MMA fighters, according to Haney.
The state has no business sticking there nose in this.They can’t even run the state.
agree – only in Cali
You know I think if it is on the ticked price rather than a general tax I could live with the extra price. I watch these fights like a good boxing match “winners are winners” For the nay-Sayers that can’t see the point or don’t understand this is an volunteer sport and these people are professionals in what they do you have no comment here.
This law wouldn’t affect me in any way, so I don’t have an opinion on it. But when you say it’s a volunteer sport, are you saying the fighters don’t get paid?
Also, is this the only career the fighters have in their lifetimes? Obviously, they can’t fight until normal retirement age, so it would seem that they would transition into another line of work after they retire from fighting.
Last question. Is Social Security withheld from their earnings from fighting?
Why is our state government wasting time on this?
Because the California state government is inept and feckless, and has zero ability to face and handle the real problems that are destroying the state – Crime, inflation, energy prices, education, crumbling infrastructure,….
p.s. Think their past monumental world changing anti hair discrimination legislation.
Some legislators/civil “servants” obviously found another way to extract money from the public, under the guise of “helping.”.
This is a joke right? Maybe they can do this right after they give every Black person 5 million dollars. I think I will become a tax dodger.
Why mixed martial art fighters?
Why not Jiu Jitsu competitors? Or Gig workers? Or amateur sports teams?
I would want to know why this one sport is being singled out? And who will be managing these funds? What will that cost?
I have way more questions about this bill that should be answered …. but probably wont be publicly answered.
NO !
But then again…. NO!
Well… NO! NO! NO!
Ah yes, as if we don’t have enough unfunded liabilities that will inevitably go bankrupt….
Maybe I should get a pension created for my job being outsourced to a foreign country. I’m too young to retire and too old to be considered viable by the woke tech companies/current culture.
Why do I get the feeling there is a whole lot more to AB1136 than is being disclosed here.
I’m not into sports or particularly this one but wouldn’t they be independent contractors? Thus they can set up their own retirement fund and control it and probably some have. I’m sure some of them don’t want the government poking it’s nose into their business. Sounds like easy “do gooder” stuff to say “I’m doing something”. Anything the government does seems to get hamstrung in regulations and “paperwork” for those it’s supposed to benefit.
These artists need help
With the way the economy is going, some can hardly afford a karate chop
I didn’t realize MMA was an actual job with a retirement fund needed.
Letting the state run any pension fund is a huge mistake.
True. They’ll load it up with ESG investments and the performance will lag the market.
We have the best government money can buy.
Why is the state mandating a certain population be provided guaranteed retirement income? It should be incumbent upon each fighter to put away their earnings into investments, and not be dependent on big daddy government to take care of them.
The state wants to collect fee income on those invested funds. They’ll hire some unskilled woke investment group to semi-actively manage the funds for 75 basis points. The state will collect 125, and the poor retired fighter won’t know he’s being bilked 2% annually for subpar performance in perpetuity. He won’t ask any questions, he’s just happy to have a pension at all.
It’s similar to the way FHA loans rip off those poor share croppers down in the valley. Lousy interest rates plus three points up front on home loans. Don’t worry about the points, they’ll finance them for you! They rely on the fact most people won’t know they are being fleeced. It’s worse than fleeced. It’s dare I say it? Honed.
The State of California shouldn’t be engaged in setting up mandatory pension programs for those working in selective industries!!! Either set up a mandatory state run pension program for ALL CALIFORNIANS working in ALL INDUSTRIES or don’t set up these mandatory pension programs at all!!!
.
Just as the State of California treats illegal aliens better than they treat California’s legal residents and citizens, they now want to treat residents and citizens of other states better than California’s own residents and citizens by setting up these mandatory pension programs for non-Californians just because these fights are held in California.
.
What will the State of California be investing these mandatory pension fund dollars in? State issued bonds?
.
Will the state be reimbursed for any and all costs associated with setting up and running this pension program?