PGA of America

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

What is a Facility Authorization Agreement?

The Facility Authorization Agreement is a form required by PGA Golf Enterprises, Inc. (PGAGE) on an annual basis to certify your current Golf Retirement Plus™ Partner Program preferences and facility circumstances. If at any time during the year your preferences change or your facility circumstances change a new agreement must be submitted to PGAGE.

When do I need to complete a Facility Authorization Agreement?

You need to complete a Facility Authorization Agreement annually. You also need to update your agreement if your Partner Program preferences change, if a new partner joins Golf Retirement Plus™, or if your employment circumstances change.

How much in contributions can PGA Professionals receive each year?

Golf Retirement Plus™ program policy precludes releasing specific account information. However, the average account holder deposits from the Sponsor Programs totaled $2,185 in 2013.

How can PGA professionals and apprentices, GCSAA superintendents and assistant superintendents, and CMAA managers contribute to their Golf Retirement Plus™ accounts?

Professionals of all three organizations can add to their Golf Retirement Plus™ accounts through their own contributions and Golf Retirement Plus™ Employer Program contributions. PGA Professionals can also contribute to their accounts through participation in the Golf Retirement Plus™ Partner Programs.

What happens when new Partner Programs are added to Golf Retirement Plus™?

When a new Partner Program is added to Golf Retirement Plus™, each PGA Professional who wishes to participate in the new program must resubmit a Facility Authorization Agreement to the PGA indicating their desire to participate.

Other than golf merchandise, what other Partner Program contributions are available?

PepsiCo and OfficeMax are examples of two companies that recognize the value of delivering top brands and national account discount pricing as well as Golf Retirement Plus™ incentives to facilities which employ PGA Professionals. PepsiCo products include Pepsi, Lipton and Gatorade. OfficeMax provides low price guarantee for facilities as well as a Golf Retirement Plus™ incentive for the PGA Professional(s) at those facilities. Most Partner Programs are from golf manufacturers who agree the PGA Professional is making the purchase decision or is significantly influencing the purchase decision.

Why should employers support Golf Retirement Plus™?

One way to reduce hiring costs and retain key employees is by investing in them; both now and in their future. Golf Retirement Plus™ is one way for your employer to demonstrate their interest in the long-term well-being of employees. Contributing to employees’ Golf Retirement Plus™ accounts is easy and affordable:

  • No costly fees. There are no fees associated with contributing to a Golf Retirement Plus™ account for a PGA Professional, CMAA Manager and GCSAA Superintendents account.
  • No employer ERISA concerns. Since the program is not a qualified employer-provided plan, your employer won’t be required to comply with the Employee Retirement Income Security Act (ERISA) requirements. These requirements are often costly and time-consuming.
  • No investment decisions. The employer won’t have to worry about choosing an investment firm or investment vehicles, and they won’t have to keep track of their professionals’ accounts.
  • No administrative burdens. The only paperwork the employer has to complete in order to participate is a single form. The only record keeping the employer has is documenting the total contribution amount on the professionals’ W-2 forms.

Can Partner Program contributions be shared by PGA Professionals?

PGA Professionals have the option to allocate any portion or all of their Partner Program incentives to a fellow PGA Professional(s) of any member classification, employed at the same facility, using the PGA’s Incentive Allocation Agreement. PGA Professionals are encouraged to consider incentive allocation as part of an employee’s overall compensation package. Currently the majority of Partner Program incentives accrue to the highest-ranking PGA Professional at each facility.

How does the program handle employer authorization for PGA Professionals participating in Golf Retirement Plus™?

PGA Professionals can receive contributions to their Golf Retirement Plus™ accounts in three different ways: their own contributions, employer contributions and Partner Program contributions. The PGA has a current Facility Authorization Agreement on file for all PGA Professionals who are receiving Partner Program contributions. The agreement requires the PGA Professional to indicate whether or not they own their own golf shop concession. If they do not own it, they are required to have their employers indicate their consent on the agreement, which lists the Partner Programs in which the PGA Professional plans to participate. When a PGA Professional changes facilities/employers, they must submit a new Facility Authorization Agreement to the PGA.

What happens if there is not an employer authorization on the agreement?

If a current authorized agreement is not on file at the PGA, PGAGE retains the royalties until the agreement is filed.

What happens to partner contributions that cannot be deposited because the account holder has passed away?

If there are eligible partner contributions not yet deposited into a PGA Professional’s account upon their death or if eligible partner contributions are received after his or her death, the PGA will pay those contributions directly to the account’s beneficiary or beneficiaries. To be considered an eligible partner contribution:

  • The PGA must confirm that the account was open with a valid Facility Authorization Agreement on file at the time of the account holder’s death.
  • The contributing partner must have been checked/selected on the aforementioned Facility Authorization Agreement.
  • Contributions received after the date of death must be confirmed by the contributing partner as having been earned as a result of an order or orders placed by the account holder.
  • The total of all contributions to be paid out equals $25 or more.

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.