NFL players began voting today (Thursday) on the new CBA proposal after management and NFLPA lawyers carefully reviewed the language that was distributed to the 1,900-plus dues-paying members.
As we wrote last week in this newsletter, the proposed CBA includes major improvements that we at NFL Alumni sought for many months from owners and the union. The document includes higher pensions—some by as much as 60 percent– for all alumni; a reduction in pension requirements from four to three vested seasons for all alumni; and a $50,000 Health Reimbursement Account for all vested players who previously had not been eligible due to their retirement date.
Several of you asked for some specific examples of how benefits will improve if you take your pension at age 55. For example, if you are a seven-year vet who retired in the 1970s or 1980s, your pension will increase from just over $30,000 to more than $46,000 annually for life. Assuming modest NFL revenue growth, pensions will grow by an additional 10% in 2025.
Also, if you are an alum who retired with three years of service at a time when four were needed to vest, you now will receive a pension of $19,800 annually for life. As you well know, you previously had not been receiving any NFL pension. Your new pension will increase to nearly $22,000 in 2025 assuming that same modest revenue growth for the League.
Alumni age 65 or older will have your Medicare Supplement benefit increased by 25% under the new CBA proposal.
Benefits such as the 88 Plan, life insurance and the neurocognitive benefit all will be increased for those who qualify.
The list goes on. All retired players under the CBA proposal will be able to receive free or low-cost screenings, preventive care, mental health services and orthopedic care at a new national network of top hospitals created by the owners and the union.
If you know any active players, please urge them to vote YES to approve this CBA proposal so that we can begin receiving the new pension increases and other benefits in 2020! Voting continues through Thursday, March 12.