Former football star and current inmate O.J. Simpson will soon be leaving prison a lot richer than when he went in.
When he leaves the Lovelock Correctional Center later this year, he will have made between $400,000 and $600,000 from his National Football League pension while he was incarcerated, according to a calculation done by ESPN. He made over $400,000 if he started taking his pension at age 55, and over $600,000 if he started taking it at 65.
On Thursday, Simpson was granted parole during a televised hearing. He’s been in the Nevada prison for about nine years for a 2008 armed robbery conviction; he was arrested while trying to regain sports memorabilia he said had been stolen from him.
And he won’t have to give any of the money to the Goldman family, who won a $33.5 million civil suit against Simpson after the latter was found not guilty of murdering their son Ron Goldman along with Simpson’s ex-wife Nicole Brown Simpson in 1994. That’s because NFL pensions are protected by state law.
The NFL has been in the news lately because its players rarely get guaranteed contracts like athletes in the National Basketball Association and other professional sports leagues. But the NFL does have excellent player benefits. For example, when a player participates in the league’s 401(k) plan, both his team and the league contribute $10,000 a year into his account.
If Simpson lives in Florida when he’s released — he lived there before his arrest — he also wouldn’t be forced to sell his house to pay off the civil suit, because of the state’s homestead exemption.
Source: MarketWatch / Steven Kutz