Each member of USA's women's Olympic hockey team will be eligible to receive a $200,000 gift for each Olympic Games they appear in following a $100 million gift from a donor.
Before there was professional women's hockey, making a living outside of the 23 players named to Canada and USA's national team rosters was nearly impossible in hockey for women.
With the dawn of the PWHL, that's beginning to change, although funding for many athletes remains a challenge. That all changed for members of USA's Olympic and Paralympic rosters this year after the pledged $100 million donation from Ross Stevens, the founder and CEO of Stone Ridge Holdings Group.
The pledge promises to give each American Olympian and Paralympian, including all 23 members of USA's national women's hockey team, $200,000 in financial benefits for each Games they represent Team USA.
“In the heart of every Team USA athlete lies a story of dedication, sacrifice and triumph,” said United States Olympic & Paralympic Committee Chair Gene Sykes when announcing the fund in March. “These extraordinary individuals have committed their lives to their sport, often at the expense of traditional career paths and financial savings. As they approach the end of their competitive journeys—often as young as 25 or 30—many face a daunting reality: the lack of financial savings to support them and their loved ones in their post-athletic life.”
For many PWHL players, who will not make enough during their careers to retire, (although the league has started a 401 (k) retirement plan), the fund could be life-changing.
According to the plan, players can receive two separate forms of financial support for each Olympics they appear in for Team USA. It includes $100,000 per Games, which will be paid 20 years after their Olympic performance or at 45 years of age, whichever comes sooner. This sum will be paid out to athletes in $25,000 increments over four years. Each athlete will also receive $100,000 per Games to be paid to chosen beneficiaries upon their death.
The move follows existing retirement plans for Olympians in place for athletes from nations like Australia, South Korea, Russia, and China.
Until now, aside from national team salaries that women's hockey players already receive in the United States, the United States Olympic & Paralympic Committee provides bonuses of $37,500, $22,500, and $15,000 for every gold, silver, and bronze won by an athlete respectively.
The longest standing American women's hockey Olympian is Hilary Knight. Had this incentive existed at the beginning of her career, Knight, 36, would be entitled to $500,000 USD when she turns 45, and her beneficiaries would be entitled to another $500,000 USD.
USA's current Olympic women's hockey roster features Laila Edwards, Tessa Janecke, Joy Dunne, Abbey Murphy, Kirsten Simms, Ava McNaughton, and Caroline Harvey, who are all currently completing their collegiate studies and playing NCAA hockey. Dunne, 20, is the youngest American national team member heading to the Olympics in women's hockey. She'll be able to begin collecting her first $100,000 sum when she turns 40, as it represents 20 years following her eligible Olympic appearance.