For details on the new PGA Deferred Compensation Plan, what it all means, and how to get started, this is a one-stop shop for information. After browsing this article and several others in the Help & Resources section, we hope to provide a comprehensive understanding of the Deferred Compensation Plan.
Where did this plan originate?
For years, the PGA of America has sought to develop a retirement plan, of sorts, for our Members across the country. The best way to do that is to compensate Members for helping to grow the game; unfortunately, due to IRS regulations, the government says we can’t just give out money.
Deferred Compensation is a plan that carries through each fiscal year (beginning 2023), and rewards Members for participating in eligible golf-related programs and activities. On top of this being another perk for Members, our goal is for the Deferred Compensation Plan to serve as an attractive recruiting tool for new talent.
For PGA Members who are active in the golf community and regularly participating in events at clubs or facilities, Deferred Compensation is a great benefit. Not only is there an opportunity for tax-deferred growth, but Members can choose their investment allocation from a variety of funds with contributions that come directly from the PGA of America.
This is an exciting time to be a PGA Member, as our Members can now earn points toward future retirement income, and at the same time, grow the game of golf.
As mentioned above, the Help & Resources section contains a series of articles that will explain different features of the Deferred Compensation Plan, including login troubleshooting, an explainer of points and how to submit activities, eligible activities and more.