Your Thoughts On A Pension System in NASCAR

[davyboy]

Originally Posted by fazzaz

There certainly is! Every employer over a certain size (I think five employees) is required to pay into the Social Security system for each employee, matching the employee's contribution.

Those benefits are payable to the employee upon retirement (as early as 62), or in the event of disability. Trust me, as a former business owner (and now retiree) this is NOT an optional system.

Private pensions, 401Ks, and similar are in addition to Social Security benefits, which are not enought to provide a high-end standard of living.

If you read further above in the thread fazzaz, you'll see that I've already covered the basic safety net provided by the governments in the UK and US... as a retiree, you'll know that such schemes alone are insufficient to support a comfortable lifestyle and that's why people have 401Ks and their equivalents. The social security safety net in the UK and US is very different to the state pension schemes in many continental European countries where the benefits on retirement are more akin to a 401K.

[muggle not]

Drivers are not employees of Nascar. However, they are employees of the teams that they drive for. Same as crew members and on down through the organizations which are quite large in some cases like Hendricks and Roush. I do not know this for a fact but probably could correctly assume that the team owners as well as the employees of the team have to pay into the Social Security System. But, as you and others have stated, this is not enough to live on. I took early retirement, at age 55, and received a reduced monthly retirement payment from Social Security but am thankful that I get it.

Darn, we are really getting adrift from the subject of racing......I know, I know, my fault.

[Craig]

hehe, we are rather!

I think, like was suggested earlier in the thread, your attitude to this idea will vary depending on where/how you were bought up. Anyone bought up, for example, in 'Thatcher's Britain' will disagree wholeheartedly with the idea. Greed is good, after all. Whereas others will have the complete opposing view.

I'm, for once, closer to the Thatcherites. Everyone should take care of themselves and, if they fail to do so, then it's not really anyone elses fault. However it would be nice to have some sort of fund which could be used to help ex drivers who have hit hard times. But I'm wholly against a full-scale pension scheme...

[Slippy Diff]

Originally Posted by muggle not

Darn, we are really getting adrift from the subject of racing......I know, I know, my fault.

In this thread or the forum? Because this "What are your thoughts on a pension system in Nascar. Many of the older drivers did not see the paychecks that today's drivers are getting. Plus some like Nadeau get little help with their expenses. Personally, I think a pension system in Nascar is long overdue." is not about racing.

[muggle not]

Slippy, welcome aboard. Good to see another fan added to Nascar racing. Who is your favorite Nascar driver and what is your favorite Nascar track.

[Slippy Diff]

Originally Posted by muggle not

Slippy, welcome aboard. Good to see another fan added to Nascar racing. Who is your favorite Nascar driver and what is your favorite Nascar track.

Nas what? Just joking of course. I don't have a particular favourite driver or favourite track in Nascar. What I do have is an interest in motor racing and its related subjects, hence my posts in this thread. Motor racing is motor racing (unless it's drifting).

I still don't believe in a pension system for retired drivers. They had the opportunity to set them selves up for life and although they may not have been earning what today's driver earns, it wouldn't have been a pittance. To say they deserve it for paving the way for today's high earning drivers is ridiculous. For starters, I very much doubt they were employees of the team but had rather signed a contract to supply their services for a fee. This would make them outside contractors and self employed wouldn't it?

[muggle not]

Originally Posted by Slippy Diff

Nas what? Just joking of course. I don't have a particular favourite driver or favourite track in Nascar. What I do have is an interest in motor racing and its related subjects, hence my posts in this thread. Motor racing is motor racing (unless it's drifting).

Naw, there is a big difference in motor racing. Nascar and F1 for example are worlds apart. A Bristol race compare to nothing in F1 that I can think of, except that the cars have 4 wheels. Since you have an interest in "motor racing", what type of motor racing are you interested in.

[Slippy Diff]

Originally Posted by muggle not

Naw, there is a big difference in motor racing. Nascar and F1 for example are worlds apart. A Bristol race compare to nothing in F1 that I can think of, except that the cars have 4 wheels. Since you have an interest in "motor racing", what type of motor racing are you interested in.

Beg to differ, see here. There may be a huge difference in how a race car looks, goes and where it races but it's still motor racing. It's all about crossing the line first. So as I said, I'm interested in all forms of motor racing, some more so than others i.e historic racing and MotoGP. Nascar comes way down the list but I still watch it now and then.

[muggle not]

Originally Posted by Slippy Diff

Beg to differ, see here. There may be a huge difference in how a race car looks, goes and where it races but it's still motor racing. It's all about crossing the line first. So as I said, I'm interested in all forms of motor racing, some more so than others i.e historic racing and MotoGP. Nascar comes way down the list but I still watch it now and then.

Everyone is entitled to their belief.

[Slippy Diff]

Originally Posted by muggle not

Everyone is entitled to their belief.

It's not a belief. Motor racing covers many disciplines, simple as that.

[muggle not]

There has been some good discussion and posts on this subject, ie, davyboy, Craig, fazazz, and others. However, word games is not my forte nor do I enjoy playing those games. So, for me this is the end of this particular discussion.

[Slippy Diff]

Originally Posted by muggle not

There has been some good discussion and posts on this subject, ie, davyboy, Craig, fazazz, and others. However, word games is not my forte nor do I enjoy playing those games. So, for me this is the end of this particular discussion.

Nice dig.

You obviously know you're wrong though... Are you saying that Nascar is not motor racing? Anyway, that was not the point of this discussion. We still haven't sorted out whether a pension system for retired wealthy drivers is a good idea.

[davyboy]

I don't see it as a dig at all. I think muggle not made some valid points, I don't agree with them myself, but they do not deserve to be belittled or ridiculed. The fact he's checked out says more about the tone of the posts made last night than of his character.

[Slippy Diff]

Originally Posted by davyboy

I don't see it as a dig at all. I think muggle not made some valid points, I don't agree with them myself, but they do not deserve to be belittled or ridiculed. The fact he's checked out says more about the tone of the posts made last night than of his character.

He may have made some valid points but I don't agree with them. What do you mean by 'tone of the posts'? The fact that I argued that motor racing is motor racing or the fact that Nascar is not my favourite motor sport discipline?

[davyboy]

Originally Posted by Slippy Diff

The fact that I argued that motor racing is motor racing

This thread is not really the place to debate English language semantics. Its about whether there should be a pension system for drivers in NASCAR.

I think I'm 10-4 on this discussion myself too.