NFL Pension

[kj9127]

Does anyone know how long you have to play to be eligible for the NFL pension, and how they determine what each player's pension will be?

 

[dA22bY]

The NFL is an organization that rewards the number of active seasons in both their pension and 401k plan. The pension, which players become eligible for at age 55, gives them $470/month for each season they played. A player with 4 seasons would get $1880/month starting at age 55, for the rest of their life. But most of them stop playing long before that, and inflation is eating away the value of those pension dollars with each passing year.

The 401k is structured more generously. After their second season, players can received 2:1 matching up to $24,000 until 2014, and $28,000 after that until 2020. Without careful money management, they still might come up short of the goal and miss their contributions. Though most of us aren’t playing in the big leagues, we share a lot of the same challenges as our favorite athletes.

http://blog.futureadvisor.com/nfl-players-must-go-long-on-retirement/

 

[kj9127]

Thanks for the info

 

[LesClaypool]

Wow, I thought the pension was much more generous that that.