NFL pension question.

[Rain Man]

A few questions, actually.

1. When does the pension kick in? Is it X years after one's playing career is over, or is it at a certain age?

2. Who's eligible for a pension? If you're Justin Medlock, do you get an NFL pension?

3. Can Morten Andersen collect a pension while he's still playing?

4. How big are pensions? Are they linked to years played? Career earnings? Something else?

[Valiant]

I know you have to have played 10 years to get NFL help at anything... That is why I think priest tried so hard to come back..

The biggest thing is they get free medical..

[cdcox]

http://www.nflpa.org/RulesAndRegs/PlayerBenefits.aspx

[kstater]

http://www.askmen.com/sports/business_100/109_sports_business.html
NFL
Year pension plan began: 1959

The NFL's pension plan covers every eligible player (meaning he played four years in the league) since 1920. That four-year requirement drops to three for players in the league after 1992. Full benefits are available at the age of 55, with a minimum payout of $200 a month for each season played in the NFL.

That monthly payout, based on the number of seasons played, does not amount to millions. Even a veteran like Darrell Green, who retired in 2002 after 20 seasons, will only be looking at $5,805 per month. Approximately $70,000 per year or $290 a month for each season played.

And despite the fact that the total pension fund was raised to $40 million annually in 2002, there are still disputes over payouts. In May 2004, the estate of Mike Webster began the legal process to sue the NFL's retirement and disability plans over his pension. Webster, who died in 2002, allegedly suffered brain damage while playing in the NFL. With his 1999 request for full disability benefits rejected, he ended up in debt and homeless for a short time. In 2005 his estate received full retroactive benefits, which amounted to $1.18 million plus interest and fees, dating back to 1991. Of course the NFL appealed, but in 2006 the U.S. Court of Appeals backed the ruling of the original federal judge.

[Rain Man]

According to the Player's Association site, Morten Andersen is eligible for the following:

Severance Pay Plan

$5,000 payment for each season played from 1982-1992 = $55,000

$10,000 payment for each season played after 1992 = $150,000 (so far)

(I presume that these are one-time payments.)

Annuity Program

$65,000 (one-time payment?)

NFL Player Second Career Savings Plan

One-time payment of $25,200

Bert Bell/Pete Rozelle NFL Player Retirement Plan

Monthly payments of

$2,530 per month for service from 1982 through 1992
$480 per month for service in 1993 and 1994
$570 per month for service in 1995 and 1996
$330 per month for service in 1997
$4,250 per month for service from 1998 through 2007

(Total in this element = $8,160 per month, or $97,920 per year)

Total of all four plans = $295,200 as a one-time payment, plus annual payments of $97,920. For each additional year, he'll add another $10,000 in one-time payments and his annual payment will go up by $5,100.

Am I reading this right? It's kind of hard to decipher the one-time payments from the ongoing payments.