He was still getting paid as of a few years ago.
edit: Young made sure his contract was insured so when the USFL went under, he still got his money.
Steve Young Will Make $1 Million in 2014 from USFL Deal Signed in 1984 | Bleacher Report
Nope. The contract was supposed to be paid from an annuity. Young decided to take a cash payment at the time equal to what it would cost to fund the annuity. Despite New Reports, Steve Young Is Not Still Making Money From His Original USFL Contract | ThePostGame