NFL Collective Bargaining Agreement

Article 55
Player Annuity Program

  • Section 1. Maintenance

    The current terms of the NFL Player Annuity Program (“Annuity Program”), a jointly administered Taft-Hartley multiemployer defined contribution program, will be continued and maintained in full force and effect during the term of this Agreement, except as amended below, and will continue to include a taxable portion (“Taxable Portion”), and a tax-qualified portion (“Qualified Portion”). The Annuity Program, and all future amendments thereto as adopted in accordance with the terms of that Program, are incorporated by reference and made a part of this Agreement; provided, however, that the terms used in such Program and the definitions of such terms are applicable only to such Program, and shall have no applicability to this Agreement unless the context of this Agreement specifically mandates the use of such terms.

  • Section 2. Contributions

    For each League Year of this Agreement, through the League Year ending in 2031, a contribution will continue to be made to the Annuity Program on behalf of the NFL Clubs as follows:


    Expenses. The NFL Clubs will make advance contributions to the Annuity Program in an amount sufficient to pay all administrative expenses approved by the Annuity Board. For purposes of this provision the term “administrative expenses” does not include reserve or similar capital requirements.


    Allocation. In the Annuity Years (as defined in the Annuity Program document) beginning in 2020 and ending in 2031, an Allocation will be made for each eligible player who earns a Credited Season (as that term is defined in the Bert Bell/Pete Rozelle NFL Player Retirement Plan) in an Annuity Year and who has a total of two or more Credited Seasons as of the end of such Annuity Year. The amount of the Allocation will be first allocated to the Qualified Portion not to exceed the maximum permitted under law, with the remainder allocated to the Taxable Portion. The amount of the allocation to the Annuity Program, subject to offset by the allocation made to the Capital Accumulation Plan described in Article 55A, shall be:

    Credited Seasons2020-2021 Annuity Years2022-2023 Annuity Years2024-2025 Annuity Years2026-2027 Annuity Years2028-2030 Annuity Years
    5 or more$110,000$125,000$140,000$155,000$170,000


    Future Contributions. Contributions, if any, for subsequent years will be determined pursuant to future collective bargaining agreements, if any. It will be the duty of the fiduciaries of the Player Annuity Program to pursue all available legal remedies in an effort to assure payment of all contributions due under this Agreement.

  • Section 3. Timing

    An eligible player who earns a Credited Season through the sixth week of the regular season of an Annuity Year will receive an allocation on December 1 of such Annuity Year. All other players who are entitled to an allocation in an Annuity Year will receive an allocation on March 31 of such Annuity Year.

  • Section 4. Structure

    The Annuity Program will continue to hold assets for the sole benefit of players and their beneficiaries and to pay all expenses of the Annuity Program approved by the Annuity Board. The Annuity Program is intended, except the tax qualified portion referenced above and the allocation to the Capital Accumulation Plan in Article 55A, to be a program of deferred compensation that is not tax-qualified within the meaning of Section 401(a) of the Internal Revenue Code. Accordingly, it is intended that individual allocations will be subject to current taxation, and that taxes will be withheld in accordance with the requirements of applicable federal, state, and local law. The parties intend that the amount of each individual taxable allocation remaining after withholding taxes will be used to purchase an annuity.

  • Section 5. NFL Player Annuity & Insurance Company Net Worth

    Unless unusual circumstances exist that warrant a greater Net Worth, the estimated Net Worth of the NFL Player Annuity & Insurance Company (“Company”) at the end of each calendar year shall continue to not be less than the greater of (1) one percent (1%) of the total Segregated Accounts, or (2) $3.5 million. For purposes of this calculation, Net Worth is defined as the net worth of the Company as shown in the pro forma financial statements. At its last meeting in each calendar year, the Company’s Board of Directors shall continue to determine:


    Whether or not unusual circumstances exist that warrant a greater estimated Net Worth;


    The amount of any payment to the player Segregated Accounts from the Company General Account for the current year, such that the estimated Net Worth for the current year does not unreasonably exceed the above limits; and


    The amount, if any, by which the Company charge to the player Segregated Accounts for the upcoming calendar year should be changed, such that the estimated Net Worth at the end of the following calendar year is not expected to unreasonably exceed or be less than the above limits.