NBA Pension Has Ballers Living in Riches Long After Playing Days
For NBA players, long-term security does not only mean lengths of playing contracts.
Protection long after their playing days are over are just as important.
Big money pay-checks, endorsement deals, glamour, and fame are a luxury that us common folks can only dream of. It is something NBA players get on the daily. Upon retirement, while the fame and glamour may slowly dissipate, a league-sponsored pension plan just so happens to kick in once each player hits the age of 62. Pension plans vary from league to league across all sports, but luckily for NBA players, they receive a better end of the bargain.
When players reach the age of 62, a minimum benefit starts off at $56,988 per year, that is if said player had at least three seasons in the league back in their hay-day. The maximum annual tension for any player is $195,000, and it requires 11-seasons of NBA service time to unlock the magical six-digits.
Of course, along the way, the NBA repays former players whenever they act as ambassadors for the game and aid in its international and national growth.
So with all things considered, even past retirement, it is still good to be a baller!