1972 Pension Agreement
Players proposal:
- Acknowledgement of, and payment of the rise in costs of health care
- Increase in the pension plan to match the 17% rise in cost of living expenses since the previous pension agreement was established three years prior.
- Proposed to have issues settled by an outside arbitrator prior to the strike.
- Refused to make up/reschedule games lost to strike.
Owners proposal:
- Offered $500,000 a year on the health-care contribution. On April 10, 1972 agreed to the cost-of-living increase in the pension benefits.
- Wanted all games lost to strike to be made up without pay.
- Wanted players to lose "credited MLB service time" for games not played during strike.
Agreement:
- Owners accepted Union proposal with significant contributions to the health-care fund and a cost-of-living increase to the pension plan, bringing the fund to near $5.9 million.
- Players did not lose credited service for games not played during the strike.
- Games were not rescheduled, and players were not paid for games not taking place.
Work stoppage: April 1 - April 13, 1972
Strike
- The players went on strike for 13 days, four days before the season started, and nine days after the season began.
- Eighty six games were cancelled, and it is estimated that the owners lost around $5.2 million.
- The players lost nine days salary, roughly $600,000.
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