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

[Dana's Conscience]

California is in outer space with most of their politics, but I'll give them credit for being fighter friendly.

 

[Cartiac]

Let me help out with the challenged folks that don't understand:
(b) All contributions to finance the MMA Fund shall be deposited in the State Treasury and credited to the Mixed Martial Arts Retirement Benefit Fund, which is hereby created. Notwithstanding Section 13340 of the Government Code, all moneys in the MMA Fund are continuously appropriated to be used exclusively for the purposes and administration of the MMA Fund.
(c) Contributions to finance the MMA Fund shall be allocated to each participating martial artist’s regular account on the last day of the MMA Fund year pursuant to both of the following requirements:
(1) Fifty percent of the contributions for the MMA Fund year shall be allocated among the regular accounts of participating martial artists as of the last day of the MMA Fund year in the proportion that each martial artist’s scheduled rounds fought for the MMA Fund year bears to the total scheduled rounds fought in the MMA Fund year.
(2) Fifty percent of the contributions for the MMA Fund year shall be allocated among the regular accounts of participating martial artists as of the last day of the MMA Fund year in the proportion that each martial artist’s total purses for the MMA Fund years bears to the total purses for all fights fought by participating martial artists in the MMA Fund year.
(d) If a participating martial artist fails to become vested in the amount credited to the participating martial artist’s regular account before the participating martial artist’s death, the regular account shall be forfeited and reallocated to each participating martial artist’s regular account on the last day of the MMA Fund year pursuant to both of the following:
(1) Fifty percent of the allocable forfeiture account shall be allocated among all regular accounts as of the last day of the MMA Fund year in the proportion that each regular account bears to the total regular accounts.
(2) Fifty percent of the allocable forfeiture account shall be added to the contributions for the MMA Fund year and shall be allocated among the regular accounts of participating martial artists who have fought in the current MMA Fund year according to the formula prescribed in subdivision (c).

You seem to be extremely simple minded with no clue of how the real world works. Where do you live, South Dakota? These policies are specifically tailored for ignorant people like yourself so you can go around claiming what a better person you are than others because you care about helping people and they don't.

I have homes in San Diego and West LA blocks from the Venice Blvd / Sepulveda homeless encampment. I see the actual results of these policies every day. Congratulations on being able to copy and paste but you have no comprehension of the text you copied.

The most significant clause in that bill is 18888.3(g) that states "Except as otherwise provided in this subdivision, the commission or its designee shall invest the money contained in the MMA Fund according to the same standard of care as provided in Section 16040 of the Probate Code. The commission has exclusive control over the investment of all moneys in the MMA Fund. Except as otherwise prohibited or restricted by law, the commission may invest the moneys in the MMA Fund through the purchase, holding, or sale of any investment, financial instrument, or financial transaction that the commission in its informed opinion determines is prudent."

Notice the qualifying exception criteria before stating the commision "shall invest the money contained in the MMA Fund according to the same standard of care as provided in Section 16040 of the Probate Code" Then notice how they immediate provide that exception they prefaced by stating the commission can do whatever the hell they want with that money.

I don't feel any need to show I can copy and paste but I will refer you to section 18888.3 (c)(2) which I find particularly stupid among the entirety of this completely stupid bill that designates 50% of the possible contribution for each fighter will be based on the percentage of their fight purses to that of the total fight purses that entire year. One UFC PPV event held in CA will zero out that entire 50% contribution for anyone with any hope or possibility of ever collecting anything from this fund because the percentage of their fight purse to the multi millions of a UFC PPV will essentially be nothing.

But good job on the copy paste, I even noticed you did some underlining and bolding, too bad you have no intelligent words of your own to add to that text.

 

[Lee_]

You seem to be extremely simple minded with no clue of how the real world works. Where do you live, South Dakota? These policies are specifically tailored for ignorant people like yourself so you can go around claiming what a better person you are than others because you care about helping people and they don't.

I have homes in San Diego and West LA blocks from the Venice Blvd / Sepulveda homeless encampment. I see the actual results of these policies every day. Congratulations on being able to copy and paste but you have no comprehension of the text you copied.

The most significant clause in that bill is 18888.3(g) that states "Except as otherwise provided in this subdivision, the commission or its designee shall invest the money contained in the MMA Fund according to the same standard of care as provided in Section 16040 of the Probate Code. The commission has exclusive control over the investment of all moneys in the MMA Fund. Except as otherwise prohibited or restricted by law, the commission may invest the moneys in the MMA Fund through the purchase, holding, or sale of any investment, financial instrument, or financial transaction that the commission in its informed opinion determines is prudent."

Notice the qualifying exception criteria before stating the commision "shall invest the money contained in the MMA Fund according to the same standard of care as provided in Section 16040 of the Probate Code" Then notice how they immediate provide that exception they prefaced by stating the commission can do whatever the hell they want with that money.

I don't feel any need to show I can copy and paste but I will refer you to section 18888.3 (c)(2) which I find particularly stupid among the entirety of this completely stupid bill that designates 50% of the possible contribution for each fighter will be based on the percentage of their fight purses to that of the total fight purses that entire year. One UFC PPV event held in CA will zero out that entire 50% contribution for anyone with any hope or possibility of ever collecting anything from this fund because the percentage of their fight purse to the multi millions of a UFC PPV will essentially be nothing.

But good job on the copy paste, I even noticed you did some underlining and bolding, too bad you have no intelligent words of your own to add to that text.

You seem to be extremely simple minded with no clue of how the real world works. Where do you live, South Dakota? These policies are specifically tailored for ignorant people like yourself so you can go around claiming what a better person you are than others because you care about helping people and they don't.

I have homes in San Diego and West LA blocks from the Venice Blvd / Sepulveda homeless encampment. I see the actual results of these policies every day. Congratulations on being able to copy and paste but you have no comprehension of the text you copied.

The most significant clause in that bill is 18888.3(g) that states "Except as otherwise provided in this subdivision, the commission or its designee shall invest the money contained in the MMA Fund according to the same standard of care as provided in Section 16040 of the Probate Code. The commission has exclusive control over the investment of all moneys in the MMA Fund. Except as otherwise prohibited or restricted by law, the commission may invest the moneys in the MMA Fund through the purchase, holding, or sale of any investment, financial instrument, or financial transaction that the commission in its informed opinion determines is prudent."

Notice the qualifying exception criteria before stating the commision "shall invest the money contained in the MMA Fund according to the same standard of care as provided in Section 16040 of the Probate Code" Then notice how they immediate provide that exception they prefaced by stating the commission can do whatever the hell they want with that money.

I don't feel any need to show I can copy and paste but I will refer you to section 18888.3 (c)(2) which I find particularly stupid among the entirety of this completely stupid bill that designates 50% of the possible contribution for each fighter will be based on the percentage of their fight purses to that of the total fight purses that entire year. One UFC PPV event held in CA will zero out that entire 50% contribution for anyone with any hope or possibility of ever collecting anything from this fund because the percentage of their fight purse to the multi millions of a UFC PPV will essentially be nothing.

But good job on the copy paste, I even noticed you did some underlining and bolding, too bad you have no intelligent words of your own to add to that text.

lol I think you conveniently avoided the long post I made before that which wasn't a paste showing how silly your posts are; I pasted above this post in case you want to learn something. Your political arguments are incredibly laughable given 100% of republican CA legislators voted for the bill, in fact EVERY legislator did, it was unanimous.
Here are a few bits for you:
1)Your call to authority based on owning houses is hilarious. I have a CALPERS pension from previously working in the prison system and have forgotten more than you will ever know about CA government pensions and the function of government around them; I actually get one.
2) You understand nothing about the text you commented on. OF COURSE the commission controls the money. They are also bound by the law as it is written and can be sued if they do not follow it; that is how the system works. There is NOTHING alarming about any of that; it is standard stuff. CALPERS controls my retirement money too, and if they ever try to take it, I'll take them to court (they never would, only paranoids like you think that)
3) The problem is a figment of your imagination and an outreach of your political beliefs that you needlessly spewed across these pages. No one ANYWHERE on the political spectrum agreed with you. Even though they are in the minority, there are far right Republicans in the CA legislature, and ZERO of them agree with you. It's not a political issue, it is one you are supremely ignorant on.

 

[blaseblase]

Don't know the details of this but the fighters would be better off managing their own money.

In a fantasy world where everyone is fiscally responsible and thinks ahead, but that's not the world we exist in. Social security exists for a reason.

 

[Cartiac]

lol I think you conveniently avoided the long post I made before that which wasn't a paste showing how silly your posts are; I pasted above this post in case you want to learn something. Your political arguments are incredibly laughable given 100% of republican CA legislators voted for the bill, in fact EVERY legislator did, it was unanimous.
Here are a few bits for you:
1)Your call to authority based on owning houses is hilarious. I have a CALPERS pension from previously working in the prison system and have forgotten more than you will ever know about CA government pensions and the function of government around them; I actually get one.
2) You understand nothing about the text you commented on. OF COURSE the commission controls the money. They are also bound by the law as it is written and can be sued if they do not follow it; that is how the system works. There is NOTHING alarming about any of that; it is standard stuff. CALPERS controls my retirement money too, and if they ever try to take it, I'll take them to court (they never would, only paranoids like you think that)
3) The problem is a figment of your imagination and an outreach of your political beliefs that you needlessly spewed across these pages. No one ANYWHERE on the political spectrum agreed with you. Even though they are in the minority, there are far right Republicans in the CA legislature, and ZERO of them agree with you. It's not a political issue, it is one you are supremely ignorant on.

Your time in the prison system really shows, congrats.

 

[bl0b]

Nice, reparations, free goods from all retail stores, and now fighter retirement pay. Let's go Cali!

 

[Lee_]

Your time in the prison system really shows, congrats.

Ran out of arguments and resorted to childish insults, huh? I can see that is the best you have.

 

[teamfox223]

1) it isn't a complete pension, it's a safety net to help fighters, they will need to manage their own money anyway. It is not intended to fully support someone in retirement.
2) The fighters aren't paying into it.
3) lol "the benefit of the fund manager" This is a government program, there is no private fund manager that will benefit.
4) It's not a conspiracy, and has nothing to do with anyone's personal politics, which is what this thread has turned into.
5) I don't think many even understand what they read. This is not coming from the general fund, and is therefore not welfare of any kind. It will be based on a 1-2 dollar fee on tickets and other fund building methods (such as sales of merchandise for the fund)

An opportunity to own the libs!!! I'll take it even if politics has nothing to do with it!!! ROFL

Take off your tin foil hat, there is no conspiracy here.

This was a unanimous vote in the CA legislature of ALL Dems AND Reps, so calm down.

The fighters fought for it too:
The bill has been publicly backed by several prominent California-based MMA fighters including former UFC champion Ronda Rousey, former WEC champion Urijah Faber, coach Cesar Gracie, referee Herb Dean, and former UFC and Bellator title challenger Cat Zingano, who gave testimony during a hearing at the state’s capitol in July.

Trust me this bill was passed in any other red states everyone here would be cheering.

 

[Lee_]

Nice, reparations, free goods from all retail stores, and now fighter retirement pay. Let's go Cali!

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:

 

[LindyBrah]

Why?

Just making a joke about how they routinely finished people or were finished in brutal fashion within one round, which would necessitate more fights to be eligible.

 

[DougieJones]

I imagine the IQ of people who believe in welfare. Every state solution always looks beautiful on paper and low-IQ morons fall for it.

Welfare 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

 

[DougieJones]

Just another show bill for some headlines, that will ultimately do nothing (if it even happens)

 

[ermac88]

Nice, reparations, free goods from all retail stores, and now fighter retirement pay. Let's go Cali!

It has the biggest economy in the country, by far.

 

[jeskola]

Your time in the prison system really shows, congrats.

You got destroyed sherbro, I understand why that is all you could muster for a response.

 

[Brettco]

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.



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.



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.



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

The most financially retarded broke ass broken state in the country should go first.

 

[Substance Abuse]

The amount of salt in this thread is fucking hilarious.

 

[chinarice]

How many Reebok coupons do they get?

 

[BlazinSkunk]

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

Should be WAY higher

 

[blackheart]

Lol. California. Just another way to fleece people

And here come the retards.

Yeah, taking a tiny tiny fraction of the revenue generated by the fighters blood and sweat, and putting it towards the long term future of said fighters, is "fleecing people ". Just say you hate fighters man.

 

[IDGETKTFO]

Looks like no more UFC fights in California.