Golf Retirement Plus™
Golf Retirement Plus™ was created as a supplemental retirement program for PGA Members. The program was developed at a time when only one in five professionals had employer-sponsored retirement programs. There was significant financial cost and staff time associated with the development of Golf Retirement Plus, which is structured as an after-tax retirement program. This cost was borne by the PGA of America, which agreed to share the program with the GCSAA and CMAA, in order to eliminate the cost for similar due diligence and program development for these other associations.
Partner Program incentives are designed as a royalty paid by the partner to PGA Golf Enterprises, Inc. (PGAGE), which administers the program. PGAGE in turn contributes an equal amount to the participating PGA Professional’s retirement account once they have opened a Golf Retirement Plus™ account and completed the annual Facility Authorization Agreement. Contributions are often a percentage of the wholesale amount of each purchase.
Other Frequently Asked Questions
Who is eligible for Golf Retirement Plus (GRP)?
You are immediately eligible to enroll and participate in the plan if you are a Member or Associate of the PGA of America in good standing.
Is there a limit on my contributions?
Because you pay current income taxes on the money you contribute, there is no annual limit on the amount you contribute to your annuity account.
How do I enroll in GRP?
Contact a GRP Specialist at 1-833-PGA-PLUS (1-833-742-7587); select Option 1. The GRP Specialist will complete the enrollment with you over the phone; it only takes 10 minutes! At that time, the GRP Specialist will assist you with additional form requirements, explain sponsor enrollments, and assist you with structuring your account to meet your needs, as well as the needs of the facility.
Your GRP Specialist will help you enroll in the plan and complete the following three steps.
1.Complete the GRP Program Plan Participant Form and VALIC Portfolio Director® Enrollment Form. You can download these forms at www.PGA.org or PGA.VALIC. com.
2. If receiving Sponsor Incentives, you must complete, sign and submit a Facility Authorization Agreement. This form must be completed annually. Forms are available by calling 1-833-PGA-PLUS (1-833-742-7587) or can be accessed online at PGA.VALIC.com.
3.Meet participation requirements of the individual Partner Programs and complete and submit the related paperwork. Members can visit www.PGA.org to determine which Partner Programs require additional paperwork.
What forms are required annually?
- Facility Authorization Agreement – This form allows the PGA to deposit partner contributions into your GRP account; contributions are made at the end of each quarter.
- Incentive Allocation Agreement – This form is only required if the Member will be sharing any portion of his/her contributions with another PGA Professional at the same facility. The form must be completed and signed by all parties.
How do I receive account statements?
AIG Retirement Services sends all active participants a comprehensive account statement every calendar quarter. This account statement documents all activity for the preceding period and also documents all incentives earned from GRP partners during the quarter. Your statement may indicate “Pending Contributions;” please contact your GRP Specialist if you have pending contributions on your account.
Once I am enrolled, how do I get account access?
Once you are enrolled, you can access your account information and perform certain transactions, 24 hours a day, seven days a week from anywhere at any time:
• Online at PGA.VALIC.com
• 1-833-PGA-PLUS (1-833-742-7587)
• The website includes access to fund performance, prospectuses, financial planning tools and more
How do I make withdrawals from my account?
Members may withdraw funds from their accounts at any time. Withdrawals prior to attainment of age 59½ may be subject to a 10% federal early withdrawal tax penalty. For assistance, please visit PGA.VALIC.com, call our Client Care Center at 1-833-742-7587 to speak with a Client Service Representative, or contact your financial advisor.
Securities and Investment advisory services offered through VALIC Financial Advisors, Inc. (“VFA”), member FINRA, SIPC and an SEC registered investment advisor. VFA registered representatives offer securities and other products under retirement plans and IRAs, and to clients outside of such arrangements. Annuities issued by The Variable Annuity Life Insurance Company (“VALIC”). Variable annuities distributed by its affiliate, AIG Capital Services, Inc. (“ACS”), member FINRA, VALIC, VFA and ACS are members of American International Group, Inc. (“AIG”).
American International Group, Inc.(AIG) is a leading global insurance organization. Founded in 1919, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement products and other financial services to customers in more than 80 countries and jurisdictions.