Does Bobby Bonilla Get A Pension? The Surprising Truth

Let’s talk about Bobby Bonilla’s unique financial situation. He’s known for receiving a substantial annual payment from the New York Mets. But is this a pension?

He currently receives two deferral payments: $1,193,248.20 million from the Mets and $5.9 million from a separate agreement. The Mets’ deferral agreement came with an 8% interest rate, stretching the payments over 25 years. This means Bobby will receive his final payment in 2035 when he turns 72.

The key thing to understand is that these payments are not a pension. A pension is a retirement benefit typically based on years of service and salary history. Bonilla’s payments are a result of a unique contract he negotiated with the Mets. He deferred a portion of his salary, allowing the Mets to pay him a lump sum at a later date with interest. While some may call it a “deferred salary” or “deferred compensation,” it’s not a traditional pension in the sense of a lifetime benefit earned through long-term employment.

So, while Bobby Bonilla receives substantial annual payments from the Mets, these are not part of a pension plan. They are the result of a creative financial agreement that has made him a bit of a legend in the baseball world.