Retired Baseball Players Will Receive Up To $10,000 Pension

Ex-ballplayers to receive up to $10,000 pension

      NEW YORK (AP) – Players who appeared for the major leagues for
less than four years from 1947-79 will receive payments of up to
$10,000 in each of the next two years under an agreement between
Major League Baseball and the players' association.
      Dan Foster, chief executive officer of the Major League Baseball
Players Alumni Association, says at least 904 players will receive
money under the agreement. The size of each payment depends on
players' quarters of service.
      The payments will be funded mostly from money paid from the
luxury tax assessed each year on high-spending teams. Of the $209.8
million in tax money raised since 2003, $192.2 million has been
contributed by the New York Yankees.
      Baseball commissioner Bud Selig said at a news conference
Thursday that “sometimes in life, it's just the right thing to
do.”
      
      (Copyright 2011 by The Associated Press.  All Rights Reserved.)