it is like a 401k. the players association, and teams contribute money to the fund allowing the players to have a retirement package of some sort. there is a calculation based on income and years in the nfl. all players contribute to the plan though union dues, but a player has to play 4 years to qualify or vest. as most don't make it 4 years it is a good deal for those who do. the payment don't start once a player leaves the nfl, but upon reaching retirement age. like social secutrity, the longer one waits to take payments, the higher the value of the payment.
i have a friend that played for 7 years. he was working in a sales job to cover his overhead until hit the age requirement. he was fond of saying on his birthday, we would never see him again.
the plan is very well funded, but it is also a relitively new thing. many of the older players don't have access to it, as they didn't contribute to it. many of those players are suffering long term health effects from playing, and players like mike ditka are working with "grid-iron greats" foundation to help them.
