The settlement would provide payouts to retirees who currently have cognitive ailments as well as those who develop them in the future. All retired players could receive tests that would help doctors monitor their health and assess whether they are eligible for payouts in the future.

Payouts would be available to all retirees, not simply the plaintiffs. Retired players who agree to the settlement will give up their right to sue the league. Current and future N.F.L. players are excluded from the agreement.

Some retired players have said the plan, the outline of which was announced in late August, before the season began, is not large enough, will not put money in enough retirees’ hands and does not answer key questions about what the N.F.L. knew about concussions, and when. Some have argued that the teams could pay far more given that the league generates about $10 billion in revenue annually.

The proposed $760 million settlement comprises three parts: $675 million for players or the families of players; as much as $75 million for medical tests; and $10 million for establishment of a research fund. In addition, up to $4 million would be used to notify the retirees of the settlement details. The N.F.L. would also pay $112 million to the players’ lawyers, bringing the total payout to nearly $900 million.

Within a month of the final approval of the settlement, the N.F.L. would have to pay $187.5 million into a fund for monetary awards and another $10 million into an education fund. It would also provide $35 million more for medical testing.

The league would have to pay for half of the settlement within the first three years and the remainder over the next 17 years. If there were a rush of former players who received payouts and the fund dipped below $50 million, the league would be asked to accelerate its remaining payments.

If the $760 million fund were exhausted, the league would add $37.5 million but no more. The fund is expected to shut down in 65 years on the presumption that no former players covered by the settlement would be alive. Actuaries for the league and the plaintiffs’ lawyers, as well as a financial adviser to the judge, have gone over the proposed settlement. Players who receive payouts would receive them as lump sums.