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Sammy that just one
They are plenty more
Most cannot even read or writeComment -
most forward thinking league is sports about its players futures......
NBA players have one of the most generous pension plans in all of professional sports. They are vested into their pension plans after playing at least three seasons in the league. The minimum benefit for a player that retires at the age of 62 is $56,988 per year - not a bad retirement for a three-year career. The maximum player benefit for any player is $195,000 and it takes 11 years of NBA service to qualify for this benefit.
But that's not all! NBA players are also eligible to participate in a league-sponsored 401(k). Do you think your 401(k) plan is good with a 50% matching policy? the nba matches players investment at an astounding rate of 140% (Learn more about retirement plans in Independent 401(K): A Top Retirement Vehicle For Sole Proprietors.)
How he can be "broke" is tough to understand since he qualifies for 200k a year from his pension. pensions are exempt from matters such as bankruptcy so his 200k a year is safe. There are several reason NBA has such great pension options first is forward thinking but the second reason is an nba roaster is less then 1/2 the size of any other sports roster so it is far less expensive to give generous benefits to players. the fact is any player nowadays that doesn't do a maximum pension investment allowed every single paycheck is a fool. Even rookies making the minimum. The NBA depositors 140 for every 100 the player deposits so the total is 240 for every one hundred invested!Comment -
sounds like odum, except for the nba and successful part.
lolComment -
They are various outlets he can borrow off that pension benefit. I believe even the NBA union has a plan itself I am aware of that he can draw from his pension at over 35.
Sammy I don't doubt you are telling truth but where did you hear he was broke? Didn't see much on link of wiki page.Comment -
fuk him
nobody caresComment -
So if you retire at age 32 in nba you cannot star collecting pension until 62?Comment -
Made $40 Million during NBA career
Now Broke and homeless ?
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