The new CBA between the NFL and NFLPA
Under my comments, you will see the entire Collective Bargaining Agreement between the NFL and the NFLPA. You can enlarge the document for easier viewing by going to the bottom of the Scribd Reader and clicking on the “view in full screen” tab.
For the thousands of players that want to now how the new “Legacy Benefit” will impact on their pensions – we still won’t know until the NFL and the NFLPA conclude their discussions and negotiations on this new benefit, but it must be resolved no later than August 18, 2011. The CBA states on page 229:
Section I. Establishment: Effective August 4,2011, the NFL shall establish a benefit known as the “Legacy Benefit.” The Legacy Benefit will be provided from the Retirement Plan to vested players who had Credited Seasons prior to 1993.
Section 2. Benefit: The parties will jointly determine no later than fourteen days after the effective date of this Agreement, the amount of the additional benefit to be provided under the Legacy Benefit and to whom it will be provided (e.g., to players who have no Credited Seasons after 1992, to players who had Credited Seasons before 1993 but no Credited Seasons after a specified season, or to all vested players with any Credited Seasons prior to 1993).
Section 3. Cost: The NFL and its Clubs shall make an aggregate contribution of approximately $620 million to the Legacy Benefit over the term of this Agreement, 49% of which shall count as a Player Benefit Cost.
The CBA was downloaded from the NFLPA website at this link: 2011 CBA
I will provide some analysis and commentary on the agreement in the next few days.