A third way for college athletes, pay for play and the @NCAA

The efforts of a Northwestern football player to form a union have been in the news recently, reviving the debate of whether college athletes deserve to be paid and if so how much.

Certain things are clear:

1. Universities make a lot of money off of high profile college sports (usually basketball and football but occasionally others).
    
2. In almost all states the highest paid public employee is a coach of one of these sports (see chart above, thanks Deadspin).
    
3. The college athletes that participate in those sports who do not end up going pro (the vast, vast majority) do not see a benefit proportional to the value they deliver to the university.

So, a proposition. What if instead of arguing for the current pay of players, instead the NCAA creates a retirement system. Hear me out. The basic tenets:

1. A university must commit to delegating a percentage (for hypothetical sake, let's say 10%) of revenues from athletic events into a trust.
    
2. Student athletes who graduate from the institution then have a stake in that trust upon reaching the age 55 (again, arbitrary and hypothetical).
    
3. Student athletes who leave to go pro before graduating (I'm looking at you Jonny Manziel, Jameis Winston et al) do not receive access to funds, decreasing the number of applicants to the pool and increasing the anticipated pay out for those athletes that stick it out.

Are there a lot of cracks to be filled in, of course. But, a plan like this would increase the fairness of the existing system, while incentivizing graduation and compensating players for their role in a massive money-making organization without compromising the "integrity" of the idea of amateur athletes.