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Professional Basketball Employee Benefits - PowerPoint PPT Presentation


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Professional Basketball Employee Benefits. Lauren Grodsky Brad Stein. Agenda. Employee Benefits Background NBA Benefits WNBA Benefits Compare and Contrast. Benefits play an important role in contract negotiations

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Presentation Transcript
agenda
Agenda
  • Employee Benefits Background
  • NBA Benefits
  • WNBA Benefits
  • Compare and Contrast
employee benefits in sports
Benefits play an important role in contract negotiations

Labor Unions attempt to negotiate league wide benefits which are documented in collective bargaining agreements (CBA)

The NBA received pension coverage in 1965

The WNBA’s first CBA was ratified in 1999

Employee Benefits in Sports
nba benefits
NBA Benefits
  • Pension
    • NBA Player’s Pension Plan
    • Vesting Requirements
    • Payout determination
    • Pre-Retirement Survivor Annuity
nba benefits continued
NBA Benefits (continued)
  • Medical and dental insurance
    • $300 deductible/family member, max of $900/family
    • $3000 maximum co-insurance benefit
  • Life insurance
  • Worker’s compensation
    • Paid in accordance with state statutes
  • Disability insurance
nba benefits continued6
NBA Benefits (continued)
  • 401(k)
    • IRC limitations
    • Team requirements
    • NBA Benefit Pool
  • Additional Programs
    • HIV/AIDS Education Program
    • Players Association High School Basketball Camp
wnba benefits
WNBA Benefits
  • First Collective Bargaining Agreement in women’s professional sports
  • Health Insurance
    • Medical
    • Dental
wnba benefits continued
WNBA Benefits (continued)
  • 401(k)
    • 25% employer match
    • Additional contribution for years of service
  • Life Insurance - $100,000
  • Disability due to Pregnancy complications
  • Off-Season Benefits - $75,0o0
    • Education, career, financial management
compare nba to wnba
Compare NBA to WNBA
  • Justification for differences
    • Revenue generated
    • Length of a season
  • Medical and Dental seem similar
compare nba to wnba continued
Compare NBA to WNBA (continued)
  • WNBA lacks a Defined Benefit plan, survivor annuities, post-career medical benefits
  • WNBA deserves Defined Benefit plan
    • Consider revenue generated
compare nba to wnba continued11
Compare NBA to WNBA (continued)
  • 401(k)
  • Not fair match for the women
conclusion
Conclusion
  • Differences should continue to exist
    • Funding limitations
    • Popularity and revenue generation
  • Women still deserve better benefits as professional athletes