In his 8th season!!!! Gonna be getting that pension!! Plays for the team that used to be called the Redskins.
Sheldon Day
- Thread starter notredame79
- Start date
Nice post .. had no clue Sheldon Day was still in the league being a journeyman vet. Great to know he'll be set for life after this season.
How good is the NFL pension? Does it really set you for life, and you gotta play for eight years? That sounds lame, given how so many NFL players' careers are only like three or four years or whatnot. And they get shit, huh? They should redo the CBA so those guys get something too. Maybe they already do. They're kind of like the lifeblood of the league. You can't have a roster without those types of players, they're a good chunk of every roster, and they play key, if more secondary roles. Team sport, right? I guess they don't have the clout when it comes to the negotiations, and their own union leaves them high and dry, and caters to the stars, and they came up with the 8 year threshold, and after that point its deemed that you've earned your keep. And they're lucky to make a team at all is how they're supposed to look at it.
Here's what AI says about NFL pension:
The NFL pension plan provides valuable retirement benefits for former players. Here are the key details about NFL pension benefits:
Eligibility and Vesting
To qualify for an NFL pension, players must:- Be vested, which requires at least 3 credited seasons in the NFL
- Have been on a team's active or injured reserve roster for at least 3 games in a season to earn a credited season
- Be at least 55 years old to receive full pension benefits
Pension Amount
The pension amount is based on several factors:- Number of credited seasons played (more seasons = higher pension)
- When the player chooses to start receiving benefits
- The form of payment selected
- Lowest: About $19,800 per year
- Average: About $43,000 per year
- Highest: About $201,453 per year
Pension Credits
Players earn pension credits for each credited season played. The credit amounts have increased over time:| Years | Benefit Credit |
|---|---|
| 1998-2011 | $470 |
| 2012-2014 | $560 |
| 2015-2017 | $660 |
| 2018-2020 | $760 |
Additional Retirement Benefits
Beyond the pension, retired NFL players may also be eligible for:- 401(k) plan with employer matching after 2 seasons
- NFL Player Annuity Program after 4 seasons
- Severance pay for players with at least 2 credited seasons
- Life insurance
- Discounted healthcare
- Access to assisted living facilities
- Specialized medical programs
Timing of Benefits
Players have options for when to start receiving pension benefits:- Age 55: Receive full pension amount
- Before 55: Can take reduced early benefits
- After 55: Delaying increases the benefit amount
- Age 65: Maximum pension benefit available
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It doesn't take 8 years. My nieces husband played 9 years ending in 2016. He was fully vested after his third season. A sad but interesting fact was their 401k match from the league was dollar for dollar yet many players were not participating during his time. Who gives up free money ?
Most if not all have an agent and financial advisor. Lots of horror stories out there about terrible financial decisions by professional athletes. But you would think AT A MINIMUM, these advisors would ensure maximum 401 contributions, a mere pittance of these athlete’s salaries.
I doubt they were seeing or taught the benefit of putting 23k away. Thats pocket money to most in the NFL.
There’s a documentary called “Broke” highlighting the poor fiscal decisions of professional athletes that is pretty eye opening. “Rocket” Ismail was unfortunately mentioned.
