Archer, 24, is in the second year of his four-year, $2.7 million rookie contract that included a $506,016 signing bonus. He stands to make base salaries of $518,000 (2015), $607,000 (2016), and $697,000 (2017) over the remainder of the deal.
The Steelers used a third-round pick on Archer last year.
This season, Archer has appeared in eight games and total 354 kick return yards for the Steelers.
The Ravens were initially mentioned as a possibility for Jones considering their need for receiver help and the fact that his best years came in Baltimore, but he’ll instead be headed to their division rival.
Now that we’re past the trade deadline, veteran players have to clear waivers before signing on with the team of their choosing.
Jones, 31, signed a two-year, $5.5 million contract that included a $1.6 million signing bonus with the Chargers back in March. He was set to make base salaries of $900,000 and $3 million over the entire contract.
This season, Jones has appeared in five games, but has yet to record a single catch. He has 193 total kick return yards.