California CodesBusiness and Professions Code - BPCDivision 8 — Special Business RegulationsChapter 2 — Boxing, Wrestling, and Martial ArtsArticle 16 — Boxer BenefitsSection 18881
(a) The commission shall, consistent with the purposes of this article, establish a pension plan for professional boxers who engage in boxing contests in this state.
(b)(1) The commission shall, consistent with the purposes of this article, establish the method by which the pension plan will be financed, including those who shall contribute to the financing of the pension plan.
(2) The method of financing the pension plan shall include an assessment in the amount of one dollar ($1) on each ticket sold for a professional boxing contest held in the state, up to a maximum contribution of ten thousand dollars ($10,000) per contest.
(3) The method for financing the pension plan may include a contribution by boxers, managers, promoters, or any one or more of these persons, in an amount sufficient to finance the pension plan.
(c) Any pension plan established by the commission shall be actuarially sound.
Notes
Requires the commission to establish an actuarially sound pension plan for professional boxers competing in California and to set its financing method. Financing must include a $1 assessment on each professional-boxing ticket sold, capped at $10,000 per contest, and may also include contributions from boxers, managers, promoters, or any combination of them.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 18881 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-8/chapter-2/article-16/section-18881