Evening star., 1950-08-24
Baseball Pension Fund
Receives Timely Lift
From TV and Radio
By John P. CormichoeI
Chicago Daily. News Sports Editor

CHICAGO, Aug. 24.-Thanks to
Commissioner Chandler's bargain
ing technique. baseball's major
league pension fund will be en-
riched by 100000 for radio and
video rights to the 1850 World
Series. It is a timely lift, because
a year ago some of the magnates
were afraid the cupboard might
get pretty bare.
When was the pension fund
strated? How does it operate?
Who gets how much and when?
Has anybody begun collecting yet?
The plan was put into effect
four years ago from an original
sum of $4,000 or thereabouts,
The money came from various
baseball cash drawers, scraped to-
gether to meet the emergency.
Then the deal was made with
the Equitable Life Assurance So
ciety and it was up to the club
owners and the players themselves
to keep the thing going.
First Years Dues, $50.
A player making his big league
debut pays about $50 into the
fund the first season. It costs him
about 500 per year the second
time around. He'll average $3.50
per campaign If he hangs around
10 years and the club forks over
approximately the same amount
per man per year.
The rebate Is at the rate OF
$40 per month for each years
service. This comes after the
player has reached SO. He can
collect. at that time. on a FIVE
year span in the big time at $50
per month. After 10 years, OF
service he is entitled to $100 per
month, the maximum, providing
he is out of the game and at the
age limit.
Estimators for Walter Mulby
secretary to the commissioner and
administrator of the fund, figure
that player who invests $2,50(
in this manner over a decade
is the monthly beneficiary of what
amounts to a $13,500 annuity.
Since club and player contribu-
tions don't aggregate more thar
35 per cent of the amount needed
to finance the project, additiona
revenue is necessary.
This is where special money
from the commissioners Office
other than that. contributed a.
league dues from the 16 teams
is mandatory and it comes
from the annual all-star receipts
and the sale of radio and tele-
vision World Series rights.
Few Players Stayed Out.
/ Needless to say the big league
membership is virtually 100 pei
cent, because as Business Man
ager Jim Gallagher of the Cubs
observed: players would be silly
not to belong" Some Of the boy:
got in for practically nothing.
A few players stayed out. One
now in the American League
started with the Cubs and didn'r
figure he'd stay UP five years, 81
The didn't join. He had cur.
Erentiy put together about tfret
years in the majors and ma.
stick around longer.
At the inception Of the pension
setup. it was provided that the
fund had to be in effect 10 years
before it would be in a position
to shell out. The exception was
made In any case where a mem
ber was then 1946) IS years old
and could collect Immediately on
retirement. Or If he was
then so. he'd have to wait only
five years.
Thus no player, trainer or coach
Of a big league team (managers
don't come under the provisions)
has been in position to take any
thing out so far.
The records indicate that only
three men-Trainer Andy Lot
shaw of the Cubs, Coach Hans
Wagner of the Pirates and Nick
Altrock of the Nats-were, and
are, Immediately eligible. All
three are still on their clubs
payrolls.
(Chicago Daily News Service)