PBC's retirement plan - can someone elaborate

[Slicedbread]

So I recently heard that PBC requires a percentage of the boxer's purse be put away for "retirement plan."

This sounds like a great concept as there are all too many sad tales of once-great boxers dying penniless.

However, is this setup like a company pension plan, where the money isn't always guaranteed if the company should go bankrupt. Forget the name of the airline but a lot of employees lost their pensions or never got them.

Or is the money actually placed in some type of escrow or setup like a trustfund where the money is guaranteed.

If it's the latter, then I commend PBC for trying to help. Guys like Adrien Broner need something like that.


Some guys would be better off having the control of the money immediately as they are able to save and invest wisely.

[Eff Pandas]

I think with how much boxers can make when they are hot + with the variety of investment options allowing diversity it's not a bad idea & could be of minimal risk. If PBC requires this & what is their exact plan I got no idea doe.

And while I suspect some guys would be better off getting 100% of there money I doubt only getting 90% or 95% is felt very much by most & most would realize it as a good plan b if boxing or their life go sideways at some unexpected point as it can or expected point as it does for everyone except Floyd, Rocky & Ricardo pretty much.

[TrueBox]

I don’t know about y’all but I don’t trust anyone with my hard earned $$$. I manage it my way. I don’t let any soul on this planet get near it. Not even my favorite hoe that lives with me under the same roof.

But then again we’re talking about boxers. Most of em’ don’t know how to manage their $$$ like true professionals and Uncle Al seems like a trusworthy individual to his boys.

[Citizen Koba]

Fantastic idea, but I ain't sure I'd trust that responsibility to any promoter - probably best set up a fund overseen by the ABC / National governing body - maybe taking 5% above any fees -and run by a time proven investment manager. Have an opt in by default for all pro fighters based in that country with the option of withdrawing at the loss of all benefits.

[Inspired]

Danny Garcia said he gets paid more than what the public is told. I'm guessing they do get paid in cash with laundered money.

[KillaMane26]

As much as guys dislike. Al Heyman he is known for looking out for fighters even ex fighters.

I remember Paul Williams talking about him..until i hear somthing bad about him financially i dont see why not

[ThatDude44]

I'm thinking just your basic stuff that some of these fighters off the streets may not know about. I know I've heard Spence mention. Haymon setting up Roths for him.

[Rustyman]

A retirement fund for boxers (or most sportsmen) is a great idea.

However, having a promoter or a manager or even a governing body run it is simply a means to get ripped off.

The money should be put into escrow and run by a separate, not for profit, trust and managed by professional money managers who are selected and rewarded on performance of the funds under their management.

Anything else is simply waiting for the inevitable collapse or fraud.

[Ray*]

It is a good idea as long as its regulated, if the government can back it AKA if said company goes bust then boxers still get their "Pension monies" then cool, but with the under the table "thing" with PBC can the government back something like this?

[Citizen Koba]

A retirement fund for boxers (or most sportsmen) is a great idea.

However, having a promoter or a manager or even a governing body run it is simply a means to get ripped off.

The money should be put into escrow and run by a separate, not for profit, trust and managed by professional money managers who are selected and rewarded on performance of the funds under their management.

Anything else is simply waiting for the inevitable collapse or fraud.

This ^. Loosely what I said above but expounded upon and probably a little better thought out than my post.