Major League Baseball and the Major League Baseball Players Association come to an agreement on paying pensions for major league players active from 1947 to 1979 who failed to qualify for benefits at the time. Until 1979, players needed to have completed four full years of major league service to qualify for a pension, leaving hundreds short. Since 1980, benefits accrue from the first day a player spends in the majors. 904 players will receive payments thanks to the agreement.

On April 21, 2011 — Major League Baseball and the Major League Baseball Players Association come to an agreement on paying pensions for major league players active from 1947 to 1979 who failed to qualify for benefits at the time. Until 1979, players needed to have completed four full years of major league service to qualify for a pension, leaving hundreds short. Since 1980, benefits accrue from the first day a player spends in the majors. 904 players will receive payments thanks to the agreement.

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Sources:

Baseball Reference April 21

SABR Games Project

National Pastime April 21

Hall of Fame

Retro Sheet