Bills Stop Funding Coaches’ Retirement Funds

Bills coaches are feeling the pinch of the NFL lockout in their retirement plans. The Bills have stopped funding the pension plans and 401k accounts of coaches as a result of cutbacks related to the work stoppage with players. It is unclear whether other Bills employees are affected similarly, but the team announced shortly after the lockout began on March 12 that it planned no layoffs and that salary cutbacks would be scaled proportionately.

“We have made prudent preparations for the possibility of a work stoppage,” Bills CEO Russ Brandon said in a statement to USA TODAY. “We have, for some time, been very up-front and transparent with our staff so that they could make informed and educated preparations. Every employee in the organization will be affected. As you move up the organization chart the sacrifice increases in absolute and percentage terms, as it should.” In 2009, the Bills opted out of the NFL’s pension plan, converting to another plan.


Enjoyed this post?
Subscribe to Bills Gab via RSS Feed or E-mail and receive daily news updates from us!

Submit to Digg  Stumble This Story  Share on Twitter  Post on Facebook  Post on MySpace  Add to del.icio.us  Bark It Up  Submit to Reddit  Fave on Technorati

Leave a Reply