The National Football League Players Association (NFLPA) is increasing pension benefits for 1,722 players who played in the league between 1993 and 1996.

These players will generally have their monthly pension benefits for each of those seasons increased to $363 per month, from $265 per month for 1993 to 1994 and $315 per month for 1995 to 1996.

In addition, 456 players from among the same 1,722 players will also have their monthly pension amounts for credited seasons earned prior to 1993 increased to $363 per month.

The special credit is scheduled to take effect starting on Sept. 1.

This latest pension increase is being funded through the joint contribution provision of the 2011 collective bargaining agreement between the NFLPA and the NFL that sets aside money to fund retired player benefits as determined by the NFLPA.

At a cost of $35.4 million, this increase is being funded over three years.

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Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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