Pensions have been increasingly cut in their size and scope in both the public and private sector in recent years, and the MLB owners have taken a step that would enable them to be “competitive” with other employers in this regard. Per ESPN’s Adam Rubin, the group of plutocrats voted in January to allow themselves to cut retirement for organizational staffers, if they so choose:
The retirement plans of any baseball employee not wearing a big league uniform may be affected by the decision, including secretaries, scouts, front-office executives, and minor league staff. Some of those personnel, particularly at the minor league level and in amateur scouting, make less than $40,000 a year and rely on pensions in retirement. Rob Manfred, MLB’s chief operating officer, noted no team has yet acted to reduce employee pension benefits.
It goes without saying that MLB franchises are collectively printing money, but one does not suspect that this will impel folks like Jeffrey Loria or Royals owner/Walmart CEO David Glass to provide employee benefits that aren’t required of them for much longer.
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