Apr 21, 2011, 5:58 PM EDT
Prior to 1980, players were vested in baseball’s pension plan after completing at least four years of service time. Since the 1980 season, all players are vested after just one day of service in the majors (as your service time increases, you get greater benefits).
Baseball and the MLBPA announced today that players who retired during the earlier period but had fewer than four years of service time will be getting retroactive benefits:
Players who retired between January 1, 1947 and January 1, 1980 with no retirement benefits for their Major League Service will receive an annual payment of up to $10,000, jointly funded by the Commissioner’s Office and the MLBPA. The collective bargaining parties have committed to these payments for an initial period of two years. Payments beyond the initial period will be discussed in collective bargaining.
That’s not a ton of money, but for the most part, guys who fell into that less-than-four-year hole didn’t make a lot of money either.
Regardless, it’s good to see Major League Baseball at least trying to take care of its own.
- Yordano Ventura calls Jose Bautista a “nobody” and accuses him of stealing signs 71
- And That Happened: Sunday’s scores and highlights 83
- The benches cleared in Toronto, too 79
- The Reds’ and Pirates’ benches cleared after Brandon Phillips was hit with a pitch 64
- Reminder: even though the trade deadline has passed, trades can still happen 13
- Settling the Scores: Saturday’s results 36
- Lucas Duda’s last eight hits have been home runs 11
- Report: Larry Lucchino stepping down as president and CEO of the Red Sox 32
- The benches cleared in Friday’s Giants-Rangers game (205)
- Blue Jays acquire David Price from the Tigers (113)
- Rangers land ace left-hander Cole Hamels from Phillies (106)
- Royals make another big move, get Ben Zobrist from A’s (95)
- Report: Rockies trade Troy Tulowitzki to Blue Jays for Jose Reyes and prospects (92)