Lets yell at California for what they are doing versus the private businesses creating something on their own. Wehe!
This is pretty cool, I didn't see this before, pasted from the bill text:
The bill would authorize the commission to award an early retirement benefit to a participating martial artist, who has vested in the MMA Fund but is younger than 50 years of age, for vocational, education, training, or medical need in the amount contained in the participating martial artist's regular account, as specified.
This is like a lot of 401K style plans- you can avoid penalty for early-age withdrawal if you can show specific needs. This way if a fighter has medical expenses (yep, no insurance from the UFC or other orgs....) or is trying to retrain and move on with his life elsewhere, there is an avenue to utilize his money early once vested.
Highly unlikely as California is the epicenter for entertainment and the largest economy in the US.
I think it might be simple jealousy.
A progressive state that represents the epicenter of technology, innovation and entertainment. Where its always sunny, with the most beautiful women and the countries strongest economy that rivals most countries.
Imagine you live in a state that ONLY exports corn which needs federal welfare to do that and you watch Fox news, (which is probably shot in Hollywood.)
I'd hate CA too.
Simple Jealousy? lol... Much more complex than that. I love San Diego, used to live there. Wouldn't mind going back if I made 3x the salary I do... Make that 5x the salary.
A progressive state with the both the richest people in the nations and also the most poverty...
Did you not notice the massive amounts of people and businesses who fled due to shit government policies. So many in fact, California issued an Exit Tax to tax businesses and people after they leave for 10 years so their Tax Base Income doesn't collapse.
I agree, it's a gorgeous state with some of the best Tech Companies in the US.
But Hollywood is fading... TV and the Movie industry isn't the same as it was even 10 years ago. Kids aren't watching TV and aren't into movies like we were.
And the Politicians... whew. San Fran has a Poop tracking Smart Phone app due to the massive number homeless shitting in the streets... where people can let the city know so they can clean it up... lol. And Californians are paying $7+/gallon for gas in places. Why is that? I can go on and on.
But people there keep voting for this... Congrates, more power to them.
We're talking about MMA and fight promotions.Aren't most UFC fights in Vegas anyway?
I hate to break your heart, but the reparations bill never made it, shoplifting is a huge problem with surges in many states (look beyond the headlines a little), and fighter retirement pay is not being financed by tax dollars. Missing by a wide margin on all counts. Nice try though.
People are so jealous of CA, and the hilarious thing is they paint it as somehow all the same when it has far more variation than ANY other state.
Don't feel bad, people of your type are never strong on the facts.
But I know, you and your buddies don't agree, but consider your company:
It has the most people.It has the biggest economy in the country, by far.
Poor loser. Blocked.Why am I not surprised you are a mega libby lmao.
lmao!!!It has the most people.
It has the largest agriculture.
It is a liberal cesspool which wants to protect pedophiles and give out reparations.
All of these things are facts.
That's nice that you pasted an opinion piece, problem is, it is total bullshit. "Unfunded pension" is a key word for idiot. Pension funds are never funded ahead of time, so all of the are "unfunded." The way they work is you get funds as people pay into it. That statement is a sure sign of an ignorant and biased individual trying to slant the facts.Recall this article on what California is up to with the MMA and other pension funds. California Democrats want more pension money, as that money will be used to direction corporations to promote blue policies ~
California Keeps Trying to Seize More Assets for its Political Pension Funds
Controlling hundreds of billions in assets is a whole lot of power.
https://www.frontpagemag.com/califo...-more-assets-for-its-political-pension-funds/
excerpt:
This seems like madness until you understand the method.
The California Legislature has unanimously approved a Bay Area lawmaker’s proposal to create the nation’s first state-run pension fund for mixed-martial arts fighters.
Assembly Bill 1136 by Asm. Matt Haney (D-San Francisco) passed the State Senate with a 34-0 vote and the Assembly on a 76-0 vote this week, sending the bill to Gov. Gavin Newsom for his signature.
“We are providing mixed martial arts athletes with an opportunity to secure their financial future and ensuring they have money set aside when needed,” Haney said. “This groundbreaking initiative sets a new standard in the sport, further demonstrating California’s unwavering commitment to MMA fighters who risk their lives for the sport.”
It’s not just MMA fighters. California’s one-party state has been aggressively expanding the scope of its pension assets.
Last year, Sacramento unleashed CalSavers. Employers are obligated to turn over the names of employees to CalSavers who are then automatically signed up and have a portion of their paycheck deducted unless they know enough to opt out.
Calsavers now has over $600 million in assets from around half a million people to manage. About a third were wise enough to drop out. Most weren’t.
David Teykaerts, the head of CalSavers was brought in from the California Public Employees Retirement System (CalPERS).
How is CalPERS doing?
The California Public Employees’ Retirement System performed worse on average than other large U.S. public pension systems over the last decade, missing out on billions of dollars in potential earnings, Chief Investment Officer Nicole Musicco told the system’s Board of Administration this week.
Not like the pensions of a huge chunk of the public bureaucracy and employees of the state are on the line.
The pension fund staff calls it a “prudent” calculated risk. Critics call it a desperation move. Both agree that the fund — which faces hundreds of billions in unfunded future pension debt, persistently basement-scraping interest rates and now a pandemic-ravaged economy — is under pressure to perform.
CalPERS’ turn to direct lending is part of a broader rethinking of the pension fund’s money-making strategy, approved by the organization’s board last month. The plan also allows the fund to borrow up to $80 billion to goose potential profits — an 11-figure sum has generated skepticism from some financial experts and howls of protest from some corners of the political and financial commentariat.
Now many more Californians at CalSavers can enjoy the high standards of the CalPERS approach.
Does this matter to anyone outside California? Yes.
These people don’t care about pensions except as assets they can play with. Gobble them up, make money playing with them, dedicate them to politically correct causes, and then weaponize them.
Here’s what New York is doing......
Fact checks-A progressive state with the both the richest people in the nations and also the most poverty...
Yep, that's what I think tooWelfare is absolutely a system that's needed to assist people truly in a bad state (short-term), but it's been expanded and abused so many times it's become completely out of control
lmao!!!
As stated; the irrational emotions are real!
Hey, hey. Party time!
Poor loser. Blocked.