Well the issue is even if the force the fighters to put a certain amount or percent into a retirement account, people can withdraw it without penalty in hardship. And loosing a job is a qualifying hardship.
So if a fighter retires from fighting at 37, they still may go broke at 40. 
CindyO -No Cindy. They should be able to retire at age 35 and not work for the rest of their lives. UFC should pay them at least $50k a year in pension from age 35 to 75. It would only cost $2 million per fighter.King Trav - Instead of a "retirement fund", how about an "education fund". Something so that a guy can go get a trade or skills to use in the world outside of fighting.
If a guy chooses to not use this avenue, he's on his own.
Most guys are out in their thirties. They have a long life ahead of them to build a "retirement fund".
"Instead of a "retirement fund", how about an "education fund". Something so that a guy can go get a trade or skills to use in the world outside of fighting."
I love this idea. Perhaps a tuition reimbursement program would help. There is no reason a fighter can't attend SOME type of training or start working on a degree to aid in their post-fight career search while they are competing, IMO.
Cindy
gokudamus -
ill tell you how it works...you take the money from your purse, put some of it in a bank account...profit
Yup
Dougie -FadeToBlack - Big companies like Blackrock do pensions for fire and police departments. Someone like this could set something up. The UFC can't offer a 401k because these fighters are ICs. Or at least that's what we're told.
I know that Sugar Ray Leonard's management firm requires that a portion of their managed fighter's purse goes into some sort of retirement vehicle. So perhaps this is something that management should look into but I really think that some of the venom that is spit at Zuffa could be lessened if they tried something like this.
The fighters may be ICs but they cannot fight elsewhere and if they try they are in a legal mess. So legally Zuffa has made them employees of a sort. So why not try a 401K idea? (I'm not from the USA so I don't know how 401Ks work per say)
Let the fighters manage their own identities--they will get far more than 10-20% splits, and retirement plans should follow.
gokudamus -
ill tell you how it works...you take the money from your purse, put some of it in a bank account...profit
This works too. The promoter should not be given even more control than they already have.
Macedawgg -Dougie -FadeToBlack - Big companies like Blackrock do pensions for fire and police departments. Someone like this could set something up. The UFC can't offer a 401k because these fighters are ICs. Or at least that's what we're told.
I know that Sugar Ray Leonard's management firm requires that a portion of their managed fighter's purse goes into some sort of retirement vehicle. So perhaps this is something that management should look into but I really think that some of the venom that is spit at Zuffa could be lessened if they tried something like this.
The fighters may be ICs but they cannot fight elsewhere and if they try they are in a legal mess. So legally Zuffa has made them employees of a sort. So why not try a 401K idea? (I'm not from the USA so I don't know how 401Ks work per say)
Let the fighters manage their own identities--they will get far more than 10-20% splits, and retirement plans should follow.
Then get to work, Counselor:)
Cindy
Since so many of these guys are young and not thinking about their future it would be a good idea to at least offer free counseling on how self employed people plan for their future.
I'm working!