CBA Updates - Part II

for last year. This is one of the highlights of the Collective Bargaining Agreement and it's really an expression of the NFL's thank you to the past legends who have built this game. Under the eleven the previous collective Bargaining Agreement, players received different amounts as a pension credit based on the year that they played, and as you may recall, the Legacy Fund was introduced to the players to enhance

their pension. Now in twenty we have pension parody for players who have credited seasons prior to twenty twelve who wards it eligible. Well, we've expanded the pool of eligible players. So the pool of players eligible from this passion has been expanded to include three credited season players who played at a time when four credited seasons was needed to vest.

So those are pre players and they will be receiving a pension for the rest of their life their first time, and that's about seven hundred players who are going to be receiving that all pension eligible players with seasons prior to the twelve season. As I said, we'll receive a total of five hundred and fifty dollars per credited seasons. That is inclusive of their pension credits, their special credits, and legacy credits, so it's additive, so their whole credit

is five hundred and fifty dollars. Now, pension calculations can be complicated and they've taken many factors, but as a general matter, the way it would work is that if you had ten credited seasons prior to and you took your pension at fifty five, electing a lifetime annuity, you'd receive fifty five a month or about sixty six thousand

dollars a year for the rest of your life. In addition, they will be further increases to six hundred dollars if revenue increases uh at at four percent or more or it could revenue is it's not increased to that level but less than four percent. There will still be an increase in pension, only will be five seventy five rather than the six hundred dollars. And then for all post twelve credit seasons, the pension is going to be increased

by ten percent. So all of these added in is about a two billion dollar commitment by the NFL, additive to what they were paying before in pension. It affects approximately eleven thousand, five hundred players and many receiving over a fifty percent increase in what their pensions were. It may take several months, and that's why I want to caution everybody to actually see these increases because processing eleven thousand and five hundred increases can be time consuming. But

they will nonetheless be effective as of April. So players who are currently in a pay status and receiving their pensions will see their increases somewhere after. We're assuming July at the earliest, maybe a month or two later, but they will be made whole by receiving a retroactive check on a lump sum amount that would bring them whole

as of April. For the widows, we also wanted to take and take note of their needs as well, and so if widows of legends whose husbands had already elected to receive their pension and indicated that their spouse should receive it after they die, much in the way that Jacob was talking about beneficiaries, they will also see an increase based on what they're their their their legend husband would have would have received, and another significant increases in

the surviving widows and children benefit. This benefit is for legends who die prior to electing a pension, so if they die before they start taking their pension um, they will also receive this benefit. And in twenty eleven, widows and children received either six thousand or nine thousand dollars for a forty eight month period of time. If the player had had passed away before two, it would have been six thousand. Um, I'm sorry, I had kind of seasons.

Before nineteen eighty two would have been six thousand, or and after be nine thousand. And after the forty eight months laps, the widow would receive forty dred dollars a month for life or until she remarried, or a child or children would receive a total of forty four d allars a month until they aged out. Now under the CBA, that forty eight month period has been extended to sixty months.

So now when from four years to five years, the amount now increases to thirteen thousand dollars a month for that sixty month period of time, and the amount after the sixty months laps increases to six thousand dollars. And if a legend has no spouse or children at death, we've extended the beneficiary as much to the way that

Jacob previously described. So now out it's not just the widow and children, but it can include adult children, parents as well as siblings and they would receive that benefit for sixty months at the higher level. So those are all the good news high points of what's happening in the world of pension for under b A. That's my clap. And if you hear a Belinda, great job, We're we're applauding with you. We're very excited. And Jacob, what don't

you tell us about the full one key? Yeah, So we also have some enhancements to to our other retirement benefits. Um we'll start with the four oh one K and the annuity. While these contributions were made to your accounts

by your clubs when you were an active player. It's very important to check your profile and NFL Player Benefits dot Com so you can see what your most recent account balances are in the four oh one K in the annuity program, the Player Benefits dot Com will also show you a unique tool where you could see, well, what happens if I pull my or oh one K at age forty five versus fifty fifty five versus sixty five. Same for the annuity program. You can see how much

you have in your accounts. You can make sure you have your beneficiaries designated, and you could see what happens when I pull my annuity at age forty five, fifty fifty five, sixty. I get a lot of guys that asked me the question, well when can I actually pull my four oh one K, And the answer is, you can pull your four oh one K before the age of fifty nine and a half. However, if you do so, the I R S is going to take a ten percent cut of your four oh one K right off

the top. So I highly encourage guys if you can wait until you reach the age of fifty nine and a half or later to pull that four oh one K, so the I R S doesn't take the ten percent right off the top. We also get the question is when can I pull my annuity money? Is that the same as the four oh one K and the answer to that is no. The annuity program has different rules.

If you have been out of the game, meaning you have not been under contract for at least five years and you are at least the age of thirty five, you can withdraw your entire annuity some with no penalty applicable to you. Another retirement benefit that guys oftentimes ask is when will I receive my severance pay? The severance pay is the money that you will receive one year

after your last date under contract. While the four one K and annuity you actually have to log into Player Benefits dot Com to request a withdrawal, the severance pay is an automatic payout, So one year after your last date under contract, you're going to receive a lump sum check in the mail and it will be sent to the address that you have on file with the NFL Player Benefits office. This is the address that you have on NFL Player Benefits dot Com with your lump sum payment.

Thank you, Jacob be Linda, could you tell us a little more about some other disability benefits. Sure, and he is happy too. So just by way of background, there are currently three different disability benefits available to legends and these are very general descriptions. But line of duty, which is for legends who have partial disabilities that are permanent

and as a direct result of NFL activity. Then there's also the neurocognitive Disability benefit, and that's for legends who have mild or moderate neurocognitive impairments either one or more areas of the functioning the brain. So if your memories impacted, your speed processing is impacted, those are the type of things they look to test to see how with the capacity and then the health of the brain is and

that would fall under the neurocognitive disability benefit. You do not need NFL causation in order to be eligible for the neurocognitive disability And then finally there's total impermanent disability and generally it is an income replacement for legends who are unable to be employed in any capacity, regardless if it was caused by the NFL activity or not. So let's start with the line of duty or l o D. Under c b A, players didn't need to be vested,

and that hasn't changed. But there was a point system that provides very specific points for very specific impairments. Under the twenty eleven agreement, players needed ten points in order to qualify. Under the c b A, we have reduced the number of points required to qualify from ten to nine, so more players will be eligible based on the reduction

of that one point. In addition, under the agreement, under line of duty, players could apply with non orthopedic the brain related impairments headaches or psychiatric disorders that had to show NFL causation. But we have eliminated that and we're just really limiting it to mostly orthopedic injuries under line of duty because we're going to then pick up um pick that that that grew up in the neurocognitive disability benefit,

which I will discuss um right now. So the neurocognitive plity benefit, as I briefly described, started in Agreement UM and in order to qualify at that time. Under the agreement, you had to be under the age of fifty five, have a season in or later, and you had to be vested. So let's fast forward to under the b a we have removed all those limitations so that players no longer have to be under fifty five, have a

season in later, or be vested to apply. It has opened up the eligibility for neurocognitive parents too, many more players, and unlike as I said before with line of duty, you do not need to show a NFL activity caused your impairment. In addition, it has also increased the disability amounts under both the mild and moderate classifications for NEUROCOG disability. So beginning with a five increase in two thousand twenty two, and you'll see increases of five dollars every two years.

The final UH disability benefit I'll discuss is total and permanent disabilities, and this benefit is for the LEGIOND who's unemployable in any capacity. As I have mentioned earlier, there are several noteworthy changes under c b a UM and its background. Just so, there are four categories or classifications within TMP that a player can qualify. So one is active football and that's for players who become TMP as a result of NFL activity while they were an active player,

And that's the most generous benefit UH. There's active non football for players who become totally im permanently disabled as a result of non football activity while they are active players. Um enacted A is for players who are determined to be totally impermanently disabled within fifteen years of living game, and then t mp UH and then inactive B for players who are determined to be TMP after fifteen years

of leaving the game. So the first the first change which I will talk about is the evaluation process under the eleven agreement based on the impairments of legend listed. He would be seen by a variety of specialists. So if he complained about back pain or or lack of range of motion, an orthopedist would see him. If he

complained about headaches, a neurologist would see him. If he complained about memory issues or any other cognitive issues, he'd be seen by a neuropsychology psychiatrist, and then if he complained about mental health issues, he'd be seen by a psychiatrist. So under the old system, each physician would make a determination of whether their specialty, and only within their specialty

was the player unable to work. So an orthopedic could only look at the physical orthopedic pieces the neurologists only for those areas, psychiatrists only mental health, and based on their limited area, they would make a determination within that area of whether or not a player was totally im permanently disabled. Under the new cb A, we're trying to implement a new evaluation process and we're calling it the

whole person evaluation process. It's no longer will end vidual specialists make a determination in their area, but we will be taking into account the aggregate of the whole person's functioning. How will this system be implemented well. The new system is going to be designed over the course of the next couple of years and implemented for testing purposes only

by April one, twenty three. Starting April three and through April one, four, legends will be evaluated both under the old system and the whole person system to test if the new system is accurately identifying the players who should be eligible, and then on April the whole person system will replace the old system and will be the zole

basis for determining total and permanent eligibility. Also, beginning on April four, will be the elimination of Social Security disability as an automatic basis for eligibility in the past under the agreements and prior um A player who received a Social Security disability award which the admit that and on that basis they can be eligible for Total Impermanent Disability UM.

That is going to be eliminated as of April one, four and with the whole New Person system being implemented UH, the hope is that the NFL neutrals will be making determinations sort of on a similar basis. Another change under

c b A is the Social Security offset. So beginning January one, players who are receiving the inactive A. By giving you the four classifications, this would only impact those who are receiving inactive A, who are inactivate and who also are receiving Social Security disability, They'll have the amount of their Social Security check offset from their monthly total impermanent payment. This would be exclusive of amount of money

they pay forth for their government issued insurance Medicare. Typically there's an amount of a couple of hundred dollars that will come out of a Social Security check that will be paying for the premiums for for Medicare that will not be offset UM. This offset is going to apply though whether they become eligible for total impermanent Social Security, or obtain Social Security after they became totally im permanently eligible, and that pretty much covers the changes that are going

to take place in the world of disability. UM. We also have, although not considered a disability plan, you do know, there's something called the A D eight plan, and the NFL's A D eight plan is a health reimbursement plan

for legends that have dementia, Parkinson's or a LS. Legends are reimbursed for their qualifying medical expenses that are related to that impairment, and they can range from at home nursing care provided by a nonrelative medical equipment, and can pay as well for institutional care if they're in an assisted living facility. Under the b A there have been significant increases in the annual maximums. So in twenty eleven, the annual maximum reimbursement for in home care was a

hundred and eighteen thousand dollars. An institutional care under the old agreement was a hundred and thirty thousand dollars. Effective April, the annual maxims will increase and so in home care will now be a hundred and forty thousan dollars annually, and the institutional care has increased from that one thirty under agreement to one six under c b A. There will also be increases on April, where in home care will be increased again two hundred sixty five thousand and

institutional care will be a hundred thousand. So we really try to address again helping those players who may be suffering from dementia, a l S or Parkinson's and providing them with some safety nets so they can get their expenses reimbursed. Blended us outstanding. Thank you and Trace. I want to go back to you. Would you share a little more about the beneficiaries. Well, I actually would like

to throw this to Jacob. So, Jacob, you said something while you were talking before about beneficiaries, and what I've experienced a is that legends don't actually go in and change their beneficiaries um when things change. So I would love it if you can explain why they need to do that and what could potentially happen, because we've actually seen some of this happen practically, and we want to make sure that the legend is covered and also that he's taking care of his family the way that he

wants to in the future. Yeah. Absolutely, It's an incredibly important point um and one that's every legend should should make sure they take care of. I'll start first with explaining what a beneficiary is, because oftentimes a lot of guys here the word, but they don't really know what a beneficiary is or the function that it serves. A beneficiary is a person or persons or your a state or trust that will collect the money in your benefit

accounts in the event that you pass away. So if you pass away, you'll want to make sure that you have somebody listed that is going to collect that money. So it's imperative that you take the time to think about who that person or persons will be. You can update your beneficiaries on NFL player benefits dot com. It's a very simple process in which you log into your

personal profile, you click on the respective benefit plan. So let's say it's four oh one K. You'll click on the four oh one K tab and then you'll click on the next sub tab that says beneficiaries. From there, you can add a beneficiary online. You'll just need their name, their date of birth, as well as contact information. However, if you do not list a beneficiary, which is Tracy mentioned. We oftentimes see you will be subject to the default rule.

And the default rule means your beneficiary will be your spouse. If you do not have a spouse, it will be your children. If you don't have any children, will be your parents. If you don't have any parents, it will be your siblings. So again, if you do not list a beneficiary, you're going to be subject to the default rule, and some of that money may go to an individual that you may not necessarily want to see that money.

So it's imperative that you do list the beneficiary or beneficiaries to be the person that you would like to see receive that money in the event that you do pass away. Thank you, Jacob, and again frequently ask questions. The players, the legends can go to our NFL Players Benefits site. Is that correct? Yeah? NFL Player Benefits dot Com is your one stop shop for everything player benefits.

I know there are some guys listening that may not necessarily want to visit the website online, so we also have a phone number that i'd encourage you to call. The phone number to the NFL Player Benefits office that administers the website is eight zero zero six. Three eight three one eight six. So again, if you don't necessarily use a computer and you rather talk to a person over the phone, you can call eight zero zero six three eight three one eight six. We also, as a

needs mentioned have to frequently asked questions. That is listed on NFL player benefits dot com and is listed on the NFL player Portal. The NFL Player Portal has a has a link that will send you directly to NFL player Benefits dot com. So regardless of which website you go to, you will definitely receive your collectively bargained player benefits information. You guys, this has been fantastic. If I

can graciously speak on behalf of every legend. First of all, Tracy, Jacob, Belinda, thank you for the work that you guys do and serve in the legends and even the current players as well. Shout out to the owners, the league office, the players Association and the players to get this deal done to benefit particularly our pre ninety three guys. This has been out standing. This information is life changing. It brings a comfort level to know um the guys are being thought

about in their needs and their desires. Maybe this is not the perfect solution, but certainly has increased in a number of guys that I've spoken with a thoroughly a number of Legends that I've spoken with a thoroughly. World. Please, here's the final question I'll ask each of you, guys, and you can say that's as simply as you as it comes to you. My dad makes a statement, he says, son is not what people don't know that hurt them,

is what they do know that's not true. Is there any statement, Belinda, Jacob or Tracy that maybe Legends no, but may not be true that comes to mind right now? I would say, just when we started the Legends community and in the ass you know this, I got a lot of nobody cares about the Legends, you know, the

guy who played the game before or an afterthought. And I think anybody who has worked with us, including you and thes knows that the Legends community and everyone working in um my department, working for the Legends Community, working with the Player Care Foundation, working in Management Council, we are here to serve the player. Our role is to build a community of care around the player and to make sure that they have a voice and that there's

somebody listening. On the other ends. Of the phone. So I would say to me, that is something that that guys think they know, but what's really true is we are built to be here specifically for players. Thank you, Tracy. Any commons BLND Jacob No, I think I I echo

everything that Tracy has said. UM. I think that there was a lot of misinformation or confusion UM that started and because of that, we saw that need and and platforms like Traces, Legends and her communication efforts have been outstanding in in educating everybody as to what's available and

pointing them in the right direction. You know. Simultaneously or concurrently with that, the NFL Benefits department, and that would be Jacob and I and our colleague Glissa Greco Um are working very hard to be transparent and communicate in a way that probably wasn't done as well before. Our goal is to make sure that players understand all of it's available to them, that they are able to access

it as easily as possible. UM, and we have an ongoing, I think, very respectful relationship with the p A that allows us to be able to work together collaboratively to make sure we get this done. Yeah. Absolutely. The only other thing I would add is that we hear from guys that the language is often you know, written by lawyers.

It's difficult to understand. And we have really really done our best in conjunction with the NFL Players Association, with the Player Benefits Office, with the Ledge this community to simplify the player benefits plans and make them easy for you the legend to understand, for you to figure out

what your options are for withdrawals or for applications. And we're going to continue and getting better at doing this, and it's something that it's very important to the NFL as well as the NFL p A. Thank you, Tracy,

thank you, Blenda, thank you Jacob. The one thing I can say to any Legends as listening, being initially invited in to the Legends community by Troy Vincent and then working alongside with Tracy, there's one word I would want to bring in all of the ears that are listening that are Legends from my perspective and being involved even today in the Legends community, and that is the word sincerity.

I'll say it again, sincerity. All the benefits of fantastic, but I can attest to your team of people, Tracy, to what you do. Belenda what you do, Jacob. It is the sincerity to serve the players. That why significant others, children, grandchildren, all the beneficiaries because of the work that you guys do. Thank you so much. This has been outstanding. Thanks for joining us and thanks for listening in. The best is yet to come. This has been the NFL Legends podcast.

To provide feedback or request a topic for discussion, email us at NFL Legends at NFL dot com.