Pace will miss New York's first four games of the season and will be eligible to return for the Jets' Monday night game at Miami on Oct. 12.
In a statement issued by the team Thursday, Pace said the suspension is a result of taking an over-the-counter dietary supplement that he was unaware violated the NFL's policy.
Pace, in his second season with the Jets, is eligible to participate in preseason practices and games.
NEW VICK PLAN: Suspended NFL star Michael Vick would keep one vehicle, one home and a large assortment of furniture and personal items if his creditors and the judge who rejected his previous bankruptcy plan approve a revised one filed Thursday.
The new plan also gives creditors a bigger cut of his future earnings but would still leave enough for Vick to live comfortably if he is able to resume his once-lucrative NFL career.
It would give Vick incentive to return to the NFL and take responsibility to pay his taxes and expenses, Vick's lawyers wrote in papers filed in U.S. Bankruptcy Court in Newport News. Thursday was the deadline for filing the plan.
U.S. Bankruptcy Judge Frank J. Santoro has scheduled a hearing on the new proposal for July 31.
PANTHERS: Carolina is taking another chance with a former minor league baseball player.
The franchise that once drafted and started quarterback Chris Weinke claimed rookie tight end Andrew Davie off waivers from the New York Jets. The 26-year-old spent four seasons in the St. Louis Cardinals farm system before switching to football.
Davie caught 24 passes for 199 yards in three years at Arkansas.