California is the First State to Start MMA Fighter Retirement Fund. Starts in 2024.

[Substance Abuse]

California MMA fighters will now enjoy a retirement benefit if they meet vesting requirements, thanks to a bill signed into law by Gov. Gavin Newsom on Sunday.



Bill AB 1136, drafted by California assemblyman Matt Haney, mirrors a pension fund established in 1982 for professional boxers in California that’s funded by a tax on ticket sales – and allows them to cash out when they schedule the required number of rounds in the state.

“On behalf of the California State Athletic Commission, I would like to extend my gratitude to Governor Newsom, Assembly Member Haney, and the Legislature for making the MMA benefit fund a reality,” stated CSAC Chair Peter Villegas in a prepared release. “These fighters have dedicated years of their lives to the sport undergoing intense training and tough battles, while entertaining fans and inspiring future fighters. When these fighters step away from the cage and enter their later years, we want them to have that retirement check in their hands—they literally fought and earned it.”

MMA fighters will need to schedule at least 39 rounds – they still get credit for full rounds in the event of a finish – in bouts sanctioned by the CSAC and reach 50 to cash out (with exceptions, according to a CSAC release on Tuesday). Boxers have to schedule 75 rounds in the state.

The benefit does not apply retroactively to fighters who’ve fought the required number of rounds in the state.

Foster and CSAC are still at work creating separate revenue streams to fund the retirement benefit; the commission aimed to sell a specialty California license plate with CSAC branding that would put $40 in the pension fund for every plate sold. As of now, the benefit will be funded by a tax of $1 per ticket sold at CSAC-regulated events in addition to concessions and personal contributions. Funding for the retirement benefit will not come from the state’s general fund, the release stated.

“This is a wonderful achievement – I’m very, very excited about this,” CSAC Executive Director Andy Foster told MMA Fighting about the bill’s passage. “But there’s more work that has to be done, and we’re going to do it.”

Among high-profile supporters of the retirement benefit – the first of its kind among U.S. MMA regulators – is former UFC bantamweight champion Ronda Rousey. So is her one-time opponent Cat Zingano, who recently spoke to legislators about the benefit of creating a small safety net for retired MMA fighters.

“If we could make it what we’re trying to make it, which is just a completely supported sport, where you’re actually looked at and treated like a professional athlete, it could be a good idea for people to do this sport,” said Zingano, who this past Saturday lost a bid for the Bellator featherweight title against Cris Cyborg at Bellator 300.

Haney previously told MMA Fighting the UFC and Bellator, the highest-profile MMA promoters doing business in the state, are “not in opposition” to the benefit and suggested they contribute to it independent of holding events in the state.


https://www.google.com/amp/s/www.mm...assed-becomes-california-law-starting-in-2024

 

[GluttonforPunishment]

Hope others follow suit.

 

[Gabe]

20k severance package and a free Prius courtesy of the state.

 

[Megatronlee]

Good

 

[Thepaintbucket]

Woah woah woah, Cat Zingano fought Cyborg?

I wonder how effective the retirement system will be given how short most MMA careers are and how little they will contribute to the retirement system

 

[markys00]

Lol. California. Just another way to fleece people

 

[Eric O]

California MMA fighters will now enjoy a retirement benefit if they meet vesting requirements, thanks to a bill signed into law by Gov. Gavin Newsom on Sunday.


MMA fighters will need to schedule at least 39 rounds – they still get credit for full rounds in the event of a finish – in bouts sanctioned by the CSAC and reach 50 to cash out (with exceptions, according to a CSAC release on Tuesday)

WTF is this. Fighter needs 39 rounds in California to access money the promoter pays in. That's 13 fights.

This seems like a fishy money grab.. who keeps the interest generated from the retirement fund and what company is paid to manage it?

Find me a UFC fighter that's fought 13x in California. It's going to be a small list.

Is anyone in here familiar with how the boxing retirement fund works?

 

[Coconutwater]

Woah woah woah, Cat Zingano fought Cyborg?

I wonder how effective the retirement system will be given how short most MMA careers are and how little they will contribute to the retirement system

Perhaps little benefit, but I like the fact that someone is trying to help.

 

[Fedorgasm]

I like the idea. 39 rounds is a lot though. That could be, what, at least 11 fights?

probably more like 18 because they won't all go the distance.

Maybe it will help fighters on smaller orgs that only put on events in California. But it won't help UFC fighters who fly all over the place to fight

Maybe if other states join in the partnership it could be a good thing.

 

[Frank Kain]

Glad to see someone using some imagination and trying something.

 

[Eric O]

I like the idea. 39 rounds is a lot though. That could be, what, at least 11 fights?

probably more like 18 because they won't all go the distance.

Maybe it will help fighters on smaller orgs that only put on events in California. But it won't help UFC fighters who fly all over the place to fight

Maybe if other states join in the partnership it could be a good thing.

If California really gave a shit they would take that $1 a ticket, split it betweet the 16 or so fighters on the card and mandate that it be put it into a roth ira or 401k for them.

Instead they're setting this up with alterior motives.

 

[Zebra Cheeks]

I like the idea. 39 rounds is a lot though. That could be, what, at least 11 fights?

probably more like 18 because they won't all go the distance.

Maybe it will help fighters on smaller orgs that only put on events in California. But it won't help UFC fighters who fly all over the place to fight

Maybe if other states join in the partnership it could be a good thing.

I wonder how many fighters will demand to fight exclusively in cali now

 

[Lee_]

20k severance package and a free Prius courtesy of the state.

It isn't courtesy of the state in terms of the general fund. They established other means of funding.

 

[Lawrence]

Yea taxes !

 

[JosephTessaro]

Maybe they will...FREE CAIN!!!!!

 

[Lee_]

WTF is this. Fighter needs 39 rounds in California to access money the promoter pays in. That's 13 fights.

This seems like a fishy money grab.. who keeps the interest generated from the retirement fund and what company is paid to manage it?

Find me a UFC fighter that's fought 13x in California. It's going to be a small list.

Is anyone in here familiar with how the boxing retirement fund works?

Actually, there is nothing fishy about it. They need to have a high bar in terms of getting vested; if they let everyone in that fought a couple of fights in CA, they will not have a solvent system.

They will need the interest to keep the system solvent; that's the way retirement works. CALPERS is the main retirement system in CA and they get interest and capital from investing the money in the greater fund, which goes back in to keep the system solvent, which is probably the way this works or eventually will work. The fighters aren't actually paying into the fund as I'm seeing it, so a lot of other aspect of defined-benefit pensions wouldn't apply.

Tax payers are not paying for it unless they go to an event, in which case they will pay an extra dollar per show for NSAC events, not anything to complain about; they are doing fundraising to get more money, which is a great solution.

It's a small safety net to help fighters, I don't know why people want to see conspiracies in everything.

 

[B ville Famous]

Actually, there is nothing fishy about it. They need to have a high bar in terms of getting vested; if you let everyone in that fought a couple of fights in CA, they will not have a solvent system.

They will need the interest to keep the system solvent; that's the way retirement works. CALPERS is the main retirement system in CA and they get interest and capital from investing the money in the greater fund, which goes back in to keep the system solvent, which is possibly the way this works or eventually will work. The fighters aren't actually paying into the fund as I'm seeing it, so a lot of other aspect of defined-benefit pensions wouldn't apply.

Tax payers are not paying for it unless they go to an event, in which case they will pay an extra dollar per show for NSAC events, not anything to complain about; they are doing fundraising to get more money, which is a great solution.

It's a small safety net to help fighters, I don't know why people want to see conspiracies in everything.

Didn’t you know? Everything is a conspiracy!

 

[europe1]

39 rounds IN California is A LOT! Especially with no Strikeforce around.

Though normally I'm pro this kind of stuff California has a history of debacles with combat sport pensions. They tried it with boxing. But the record-keeping and administration was so bad Boxers basically had to do all the legwork themselves and prove they could get pensions. Let alone being aware of it.

 

[froggyluv]

Id like my taxes to go to retired injured MMO players. Cuz...Canada.

 

[Lee_]

39 rounds IN California is A LOT! Especially with no Strikeforce around.

Though normally I'm pro this kind of stuff California has a history of debacles with combat sport pensions. They tried it with boxing. But the record-keeping and administration was so bad Boxers basically had to do all the legwork themselves and prove they could get pensions.

Which is what MMA fighters will have to do. Someone who got that many rounds in CA likely fought all kinds of different sized shows, including shows that were publicly unaccounted for. They would have to prove all of those rounds given the state isn't going to track them. Either that or they would have to reach out to get an event preapproved if it was a small promotion.