Tuition Assistance Plan
The Tuition Plan shall continue to provide up to $20,000 per Plan Year (increasing to $25,000 beginning with the 2026 Plan Year) through the last day of the 2030 League Year for reimbursement for tuition, fees, books, or other expenses as defined in the Tuition Plan for reimbursable expenses incurred (under the terms of the Tuition Plan, an expense is incurred when paid) during the Plan Year, to any eligible player for a course or courses for which he earns a grade of “C minus” or better at an eligible educational institution, including trade or vocational schools, within the meaning of Section 529(e)(5) of the Internal Revenue Code, or as otherwise defined in the plan. The Plan shall be amended to provide that a player with less than two Credited Seasons who does not use the full amount of his benefit during a Plan Year in which he is eligible, and who is not eligible for the benefit in the following Plan Year, shall be eligible to use during such following Plan Year any remaining benefit amount from the Plan Year in which he was eligible. The Plan shall be further amended so that solely for the League Year ending in 2020, an eligible player who has not used his $20,000 by the end of such League Year shall have until August 31, 2020 to use such benefit. An eligible player who has used his $20,000 for the League Year ending in 2020, and who incurs a reimbursable expense after the end of the League Year, but before the first day of the 2020 Plan Year commencing on September 1, 2020, may seek reimbursement for such expense, but any reimbursement shall apply to the $20,000 annual limit for the 2020 Plan Year. The Plan shall continue to provide that a reimbursable expense is incurred during a Plan Year if it is paid in such Plan Year, including the 2030 Plan Year. A reimbursable expense incurred on or after the beginning of the 2030 Plan Year, and on or before the end of the 2030 League Year, shall be payable after the end of the 2030 League Year if the claim for reimbursement is timely filed under the requirements of the Tuition Plan, and all other requirements of the Tuition Plan are satisfied. The Tuition Plan shall continue to be a written plan that is intended to qualify as an educational assistance program under Section 127 of the Internal Revenue Code that provides benefits to a player in any calendar year up to the maximum exclusion amount of Section 127 of the Internal Revenue Code, to minimize the tax burden on players. Benefits in excess of the maximum exclusion of Section 127 of the Internal Revenue Code in any calendar year will be subject to taxation and wage withholdings. To be eligible for reimbursement, fees must be associated with the course or courses taken.