The NFLPA has released a statement that players will get $1,000 in pension benefits for each year they were on the PUP list and $10,000 per year in deferred compensation for those who played in less than 10 years.
Article 3 of the Collective Bargaining Agreement gives players a severance package worth $1.5 million per year for the first two years of their careers, and the final two years they will get another $500,000.
The total package is $5.5 billion.
Players who played more than 10 seasons will get a combined $7.5 in deferred salary, $4.5 for each of the next three years, and $1 million per season from 2020-2026.
The NFLPA released the statement on Monday:We are pleased to announce that all NFLPA players and former players will be eligible for the benefits of the Pension Plan.
Players will be entitled to deferred compensation of $1 Million per year.
Players on the CBA-PPA program, or those who retired in 2016 and 2017, will be on a deferred compensation plan for one additional year.
The PUP plan, which also includes other benefits, is designed to compensate retired players for the time they have spent on the disabled list.
All players will continue to be eligible to receive deferred compensation on an annual basis for the life of the contract.
For a list of current players eligible for pension benefits, please click here.
Players eligible for deferred compensation will receive a base salary of $6.5million in the first year, with an additional $1million in base salary for each additional year they are on the roster.
Each additional year on the active roster is $2.5m.
A team will not have to pay a player’s deferred compensation if the team had a loss in the past two seasons, and players eligible to have deferred compensation in 2019 or 2020 will be paid based on the value of their contracts.
The deferred compensation was approved by the NFLPA and is subject to the ratification of the National Labor Relations Board.