Reaching MLB is insanely difficult: for every player who actually makes his debut, there are dozens who had to drop out in high school, college, or the minor leagues.
Actually staying in the league for 10 years is something reserved for the most talented and persistent ballplayers in the world.
The 10-year service-time threshold has long been one of the most respected and coveted among players.
There is a financial reason behind that, but we will get there in a minute.
The most recent player to reach that milestone is Texas Rangers ace Jacob deGrom.
“This past week, Jacob deGrom received 10 years of MLB service time,” Dan Bartels tweeted.
This past week, Jacob deGrom received 10 years of MLB service time. pic.twitter.com/slgGjZbwp9
— Dan Bartels (@DanBartels2) May 6, 2024
The 10-year service time threshold unlocks a yearly pension for players after they are retired.
According to JustBallGloves.com, “any player, coach, manager, or trainer that has worked within the league for at least 10 years will receive a pension payout for the rest of their life.”
Starting at age 45, those who have completed 10 years of service time will be allowed to withdraw $68,000 per year.
If the player elects to wait until he is 62, he will be able to get up to $220,000 annually.
deGrom has likely earned financial security for life through his contracts: the last one was worth $185 million over five years, and was signed before the 2023 campaign.
It’s always nice, especially for those who can’t score such a hefty contract over their playing careers, to have such a nice financial cushion for their golden years.
deGrom is now a proud member of the 10-year service-time club and it should be celebrated.
Currently on the injured list, he is expected back around August.
