Pensions for Boxers?

Question

Many boxers after retiring, lose all their money. Even Joe Louis died penniless.

Is there a program that helps Boxers with economic and health problems after they retire? If so, what's the name of the Program and how do boxers benefit ? Who benefits from it? Should big boxing Organizations such as GoldenBoy Promotions or Top Rank do something or provide some type of pension after their boxers retire?

Answer 1

Each boxer would have to take out a private pension scheme if they want a pension, or have a fall back career. There are no national pension schemes.

In 1998 former Heavyweight contender Gerry Cooney set up the Fighters' Initiative for Support and Training, whose mission is to "provide treatment, counseling, and career path assistance to fighters in New York and New Jersey who lack the resources needed for a successful transition after prizefighting".

Here is some information about them including a link to their website:

http://foundationcenter.org/pnd/spotligh...

Answer 2

There certainly should be economic help available for retired boxers to help them manage their money but nor pensions. Boxing is a sport not service for the government. Retired soldiers and police officers get things like pensions not sportsman. It is true that a lot of fighters have been dealt a bad hand when their promoters are done with them b/c they can no longer bring in any more money. Maybe that is a business that you would like to look into being a consultant for retiring boxers?

Answer 3

Bro, I wish there were such programs, God knows boxing should have something of this nature.  To my knowledge, no such retirement plans exist, it is up to each individual as to how they plan for their retirement.  In life, a lot of things should be, that simply aren't.  Great question, hopefully in the future, there will be.  When Ronald Reagan took office, 25% of the American workforce was Unionized and had retirement packages.  With the end of Bush's second term rapidly approaching only 8% of the American workforce remain in Unions.  It was organized labor that brought such social programs to the fore front of industry in all walks of life.  Unions brought us the hope of "retirement" and even invented week ends, and over time.  Current political policy over the past quarter century has not been kind to anyone who works for a living, and that includes boxers.  

Hopefully, that trend will come to an end with Bush leaving office.

The HebrewMaulermowgliboy LesDuntouchablebabble troll is still imitating my avatar.   But hey, they say imitation is the sincerest form of flattery.  There are worse role models that the little fella could have picked so I guess in his own twisted way, he is actually paying homage to me.

Answer 4

No Pension For Boxers

Answer 5

While I'd never actually vote him into office, it's well documented that John McCain has fought in the past for the powers that be to enact a boxing pension plan complete with health care and job skills for the days after one's career.  It's similar to the fight that Mike Ditka is involved in with the NFL. . . . helping out those in need who helped the sport while they were healthy.  

I find this most admirable, but I wonder where the money would come from.  I doubt fighters would ever agree to get paid less. . . and as for promoters. . . . .the ONLY thing that a room full of promoters can agree upon is that they don't make ENOUGH money!  Bottom line, someone needs to step up to the plate and start a plan to help those who are physically incapacitated due to their fighting days.  Gerald McClelland comes to mind. . . . .

Answer 6

Actually there is a small retirement fund for boxers in California. All boxers who have accumulated more then 75 rounds of professional boxing get to apply for this fund.

There is $100,000 held in a yearly fund for retiring fighters, he or she has to apply for it & once approved they get it. Now the bad part of it is that if two fighters apply for it at the same time then it is split & so on. Also they only receive this money once.

The money comes from fees that the California State Athletic Commission charges promoters. This commission which has been ran into the ground by the chief executive officer Armondo Garcia who has no real knowledge of what he is doing (but he is another story).

The commission charges the promoters a 5% fee based on there gross revenue, then another 5% for television tax which is usually around $8,000 for a small show holding maybe 1200 people. Out of this money only $1.50 per ticket is applied to this fund. If only 100 tickets are sold, then $150.00 is paid into it, but it is never to exceed $100,000 per year.

They have talked about doing more for the fighters but Armondo Garcia is creating a mess in Sacramento making it harder for everyone. All promoters pay these fees to the commission after every event including the names mentioned. Im glad to hear that people who are not actual fighters care enough to ask, thanks..

By the way boxing in California is a $300,000,000 per year business & only $100K goes to the fighters? & if you think that the commission & promoters are s******g the boxers, MMA fighters get paid less then half of what boxers do & don't even have a retirement fund.