Deals & People July 26, 2011
Buffalo Bills to Restore 401(k) Contributions
The end of the NFL lockout doesn’t just mean play can resume, it also means pay and benefits can resume.
Reported by Rebecca Moore
All the team’s employees, from the players to the supporting staff, will benefit from the recently settled NFL bargaining agreement, as the Bills said they will give a full reimbursement to all employees of pay that was reduced during the lockout, according to the Buffalo News. In addition, payments to employees’ 401(k) plans, which had been suspended during the lockout (see “Buffalo Bills Halt 401(k) Plan Contributions“), will be restored, retroactive to the start of the lockout.
According to the news report, the major economic term of the deal is owners will get 53% of all revenue and players get 47%. In addition, the owners will keep a supplemental revenue sharing plan in the deal that will allow for a distribution of some money from high-revenue clubs to lower-revenue clubs.« New Approaches to Winning RIA Market Growing in Popularity