Professional Basketball Employee Benefits

1
Professional Basketball Employee Benefits

• Lauren Grodsky
• Brad Stein

2
Agenda

• Employee Benefits Background
• NBA Benefits
• WNBA Benefits
• Compare and Contrast

3
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 WNBAs first CBA was ratified in 1999

4
NBA Benefits

• Pension
• NBA Players Pension Plan
• Vesting Requirements
• Payout determination
• Pre-Retirement Survivor Annuity

5
NBA Benefits (continued)

• Medical and dental insurance
• 300 deductible/family member, max of 900/family
• 3000 maximum co-insurance benefit
• Life insurance
• Workers compensation
• Paid in accordance with state statutes
• Disability insurance

6
NBA Benefits (continued)

• 401(k)
• IRC limitations
• Team requirements
• NBA Benefit Pool
• Additional Programs
• HIV/AIDS Education Program
• Players Association High School Basketball Camp

7
WNBA Benefits

• First Collective Bargaining Agreement in womens
  professional sports
• Health Insurance
• Medical
• Dental

8
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

9
Compare NBA to WNBA

• Justification for differences
• Revenue generated
• Length of a season
• Medical and Dental seem similar

10
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

11
Compare NBA to WNBA (continued)

• 401(k)
• Not fair match for the women

12
Conclusion

• Differences should continue to exist
• Funding limitations
• Popularity and revenue generation
• Women still deserve better benefits as
  professional athletes

13
Questions..