MLB and union agree to pay pre-1980 players' pensions

[Omaha Steve]

http://www.reuters.com/article/2011/04/21/us-baseball-pensions-idUSTRE73K7Q920110421

NEW YORK | Thu Apr 21, 2011 4:53pm EDT

NEW YORK (Reuters) - Major League Baseball and the players' union announced an agreement on Thursday to make belated payments to players who retired before 1980 but did not qualify for a pension.

Under the previous agreement, players who retired between 1947 and 1980 were only eligible for benefits if they completed at least four seasons in the major league. Players who competed after 1980 become eligible as soon as they played one game.

But under the new deal, those affected players will now be entitled to an annual payment of up to $10,000 for at least the next two years. Further payments will be discussed in the next round of collective bargaining agreements.

"We felt that this was the right thing to do for these former players who contributed to our game's unparalleled history," MLB Commissioner Bud Selig said in a statement.

FULL story at link.