Team USA Athletes to Get First-Ever Pensions Under $100M Ross Stevens Gift

A total of 232 athletes will represent the U.S. at the upcoming Milan Cortina Olympics, marking the nation’s largest-ever roster for the Winter Games. But that isn’t the only way Team USA is making history this year. The squad will also be the first group of American Olympians and Paralympians to receive retirement benefits, thanks to a donation from financier Ross Stevens.

Stevens, the CEO and founder of asset manager Stone Ridge Holdings Group, last year pledged $100 million to help the U.S. Olympic and Paralympic Committee (USOPC) bolster the economic stability of athletes through the newly created Stevens Financial Security Awards. Starting this year and continuing until at least the 2032 Brisbane Olympics, all participating American athletes will be eligible for $200,000—or more—in post-retirement funds.

“I do not believe that financial insecurity should stop our nation’s elite athletes from breaking through to new frontiers of excellence,” said Stevens, whose firm will match employee contributions toward the Stevens Awards, during last year’s announcement.

Historically, Team USA athletes have not received financial compensation for participating in the Olympics and Paralympics beyond cash prizes for medalling. Gold medalists get $38,000, while silver medalists get $23,000 and bronze medalists $15,000. A number of other countries also provide incentives, cash and otherwise, for reaching the podium. Free housing has been given to medalists from Kazakhstan, while some Austrians receive Philharmonic coins, and Malaysia has been known to give out cars to athletes.

But medal winnings alone aren’t enough to sustain an athlete financially—especially when an Olympic career is often short-lived. The average retirement age for track and field athletes, for example, is just 32, according to a 2024 study.

That’s where the Stevens Awards come in. Going forward, participating U.S. Olympians and Paralympians will be eligible for $100,000 in benefits either 20 years after their initial qualifying Games, or when they turn 45 years old, whichever comes later. That’s on top of an additional $100,000 earmarked for the families or chosen beneficiaries of athletes upon their death. Given those rules, this year’s Team USA squad stands to gain $46.4 million from the new program.

They could make even more if they compete in future Games. The Stevens Awards include a so-called “multiplier effect” that applies the $200,000 in post-retirement benefits to each Olympic or Paralympic Games an athlete participates in throughout their career. That means someone who competes in three Games could receive $600,000 in funds. This clause is intended to encourage athletes to return for multiple Games—a move that could lead to more medals for the U.S., given that 60 percent of the nation’s podium winners previously participated in earlier Games, according to the USOPC.

While some Olympians, such as popular NBA players, earn hundreds of millions of dollars through salaries, signing bonuses and sponsorships, many others face less lucrative careers. More than 26 percent of high-level athletes earn less than $15,000 annually, according to a recent report. To ensure the Stevens Awards aid those in financial need, athletes who already make $1 million or more a year are not eligible.

The U.S. now joins a small group of countries whose athletes receive retirement benefits. Russia and China both provide retirement stipends to Olympians, as does South Korea, which for five decades has offered lifetime monthly pensions to medalists according to their placement.

The idea of supporting Olympians and Paralympians after their competitive careers appears to be gaining momentum globally. Indonesia, which briefly introduced a pension policy in 2016 before scrapping it the following year, is reportedly looking to revive a similar program. Australia, meanwhile, last year launched a fund that will provide retirement grants of 32,000 Australian dollars ($22,500) per Game, to be paid out in installments 16 years after athletes compete.