Qualifying participant members are sharing within the ATP’s robust monetary efficiency in 2022 by a file contribution to the ATP Player Retirement Plan. Contributions to particular person participant retirement accounts hit $167,900 in 2022 following a yr through which the ATP noticed progress in information worth and income from the switch of match licences, together with these of ATP Masters 1000 occasions in Madrid and Cincinnati.
A complete of 165 gamers obtained a contribution into the Retirement Plan for 2022. Formally established in 1990, the plan presently makes funds to 300 gamers, who obtain funds for 20 years, starting at age 50.
“I remember the first year I qualified for a contribution it was $10,000,” mentioned Australian veteran and ATP Player Advisory Council member Matthew Ebden, who has been on Tour for 17 years. “Although 2022 was unusually massive attributable to robust income coming into the Tour, the annual contribution has been steadily rising over time. The returns of the fund have been good and positively for gamers who’ve been on the tour for just a few years, the plan is one thing of their ideas.
“Not everyone has the career of a Roger, Rafa or Novak, and the pension plan is a key part of many players’ financial security after 50.”
Contributions to the Retirement Plan for 2022 alone topped US$27.7m, greater than double the $12.7m deposited in 2019. Historically, gamers wanted 5 years of vesting within the plan to be eligible for funds from age 50, In 2018 a partial vesting part was created for gamers with three years vesting.
Fellow Player Advisory Council member and World No. 7 Andrey Rublev echoed Ebden’s ideas on the significance of the plan.
“The plan continues to grow each year and it will offer great support to players in retirement, especially those who may not get to play in the big finals and earn the big pay days many times. But these players are a big part of the Tour and deserve to be taken care of when their careers are over.”
The begin of the plan goes again to the early years of the ATP. Jaime Fillol performed a key function within the institution of the plan within the late Eighties. With the beginning of the ATP Tour in 1990, the plan grew to become one of many key applications for the participant members.
Source web site: www.atptour.com
