Players on Canadian teams dinged on pension
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11-29-2012, 04:11 PM
Join Date: Jan 2005
Originally Posted by
They can start drawing pension-- a guaranteed amount-- at age 45. Guaranteed and administered by the union......
The NHL Pension Plans (there are separate plans for players on US and Canadian teams) are no longer defined benefits plans (and haven't been since 1986) - they are defined contribution plans.
The League and the NHLPA make annual contributions to individual fully vested retirement accounts for each player - the amount (and currency) is based on whether a player as > 160 games credited. The player may then choose how the funds are invested - the available investment fund options are defined by the Plan Trustees.
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