Benefits April 27, 2010

Redskins to Freeze DB Accounts for Non-Coach, Player Employees

April 27, 2010 (PLANSPONSOR.com) – The Washington Redskins football organization will freeze defined benefit pension accounts for non-player/coach personnel, but will continue in the league's 401(k), which includes an employer match.
Reported by

The Washington Post reported that the team would drop out of the pension program sponsored by the National Football League (NFL) as of July 1, 2010. Accrued benefits will be maintained, but no new benefits will be paid

The newspaper said players and coaches are not affected by the move, but athletic trainers were present at a recent meeting called to discuss the moves.

The Redskins join the list of NFL teams that have ceased participating in the league’s pension program. Washington is the 15th team in the 32-team league to opt out of the plan. The Dallas Cowboys and New England Patriots, widely considered among the league’s premier franchises, are among the teams that previously cut benefits.

Team owners voted in March 2009 to make it voluntary for clubs to offer their employees the league’s pension, 401(k), and supplemental retirement plans, the Washington Post said.

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