Union Hikes Retirees’ Pensions

Pensions of some older retired major league baseball players will more than double under an agreement that increases benefits.

Mark Belanger, special assistant to the Major League Baseball Players Assn., said the association has agreed with the club owners’ Player Relations Committee on which benefits it would buy with money provided by the new basic agreement. The maximum pensions for each class of older retirees will increase by more than 50%, with the biggest percentage increase going to players who were active before 1959.

For example, a player with 10 years in the majors who took retirement at age 50 before 1959 will receive $1,394 a month, a 114% increase from the current $650 a month. The new pension schedule and other changes are effective immediately.

Among the other changes are an increase in benefits to widows from about 50% to 100% and maximum lifetime health insurance payments from $2 million to $10 million.