Ok, I was able to get one more update before Christmas! Update #21 brings awards to to the game. 
Each season there will be a Hitter of the Year, Pitcher of the Year, and Reliever of the Year. Also, All-American 1st and 2nd Team, and All Conference 1st and 2nd Team. This is a retroactive update, so the first time you go through the end of season process, it will process the awards for seasons prior. The player profile popup will also have a tab that shows what awards that they won during their career.
Merry Christmas everyone!
Update #21- Awards
Source: Steam Community (opens in a new tab)