In honor of the NFL season officially starting tomorrow, NPPC is re-sharing this blog originally posted on February 8, 2016, and written by Tyler Bond.
Last night the Denver Broncos won Super Bowl 50. For Denver’s starting quarterback Peyton Manning, this was almost certainly his last game before retirement. Once Manning enters retirement, there is one thing he can count on: his defined benefit pension.
NFL players participate in the Bert Bell/Pete Rozelle NFL Player Retirement Plan. NFL players are fully vested in the plan after three years on active roster or injured reserve status. The benefit amount is then based on the number of credited seasons played. In 2014 the average annual NFL player’s pension benefit was $43,000.
The NFL pension plan was funded at 55.9 percent in April 2014. This is a low funding ratio, but there’s a good reason for it. Following the lock-out in 2011 and the negotiation of a new collective bargaining agreement (CBA), the NFL Players’ Association fought for an increase in pension benefits for retired players. This took the plan down to a funded status of 48 percent in 2013, but the NFL has agreed to commit $620 million over ten years to reach full funding by 2021. The latest available data indicates the plan is funded at 89 percent as of 2018.
Author(s): Tyler Bond, reposted by ARIEL MCCONNELL
Publication Date: 7 Sept 2022
Publication Site: National Public Pension Coalition
It is Super Bowl time which, for some of us, means that the new 5500 for the Bert Bell/Pete Rozelle NFL Player Retirement Plan (EIN 13-6043636) is out and we get a better idea of how much Joe Burrow really has in common with a Cleveland Iron Worker.
At 25.53% funding (a massive decrease from last year) are the actuaries setting up the next play for this plan to be a Hail Mary?
There’s no retirement age in the NFL, and that’s a good thing for Super Bowl-bound Kansas City and Tampa Bay.
Andy Reid and Bruce Arians are two of the league’s five oldest coaches. Reid is closing in on 63; Arians turned 68 last October. They have a combined 55 years of NFL experience and spent nearly another three decades working at the college level.
Neither seems close to calling it a career. Instead, they’re showing that bald heads and gray facial hair might be a better choice than young and spry at football’s most important leadership position. These guys might just be getting started, too.
The NFL was slowly discovering something far deeper: a core tenet of Covid-19 transmission wisdom—how to define when individuals are in “close contact”—was just wrong.
The safety of interactions during this global pandemic had been for months measured by a stopwatch and a tape measure. The guidance was that someone had been exposed to the virus if they had been within six feet of an infected person for more than 15 minutes. It was drilled into everyone for so long it became coronavirus gospel.
But that wasn’t proving true during the NFL’s outbreaks. People were testing positive for the virus even though they had spent far less than 15 minutes or weren’t within six feet of an infectious person—and the league had the contact-tracing technology to prove it.
It’s Super Bowl time which, for some of us, means that the new 5500 for the Bert Bell/Pete Rozelle NFL Player Retirement Plan (EIN 13-6043636) is out and we get a better idea of how much Tom Brady really has in common with a Cleveland Iron Worker.
Interestingly enough, the NFL plan meets the objective (less than 40% funding and less than 40% active) criteria under both HR 397 and the Grassley-Alexander proposal from the prior legislative session and would qualify for a bailout were it to declare itself a red zone plan.