2006-06-16 00:58:07 · 3 answers · asked by bigdalebethel 1 in Sports ➔ Golf
YES! "the PGA's plan is still considered the best in pro sports".
"PGA: Year Pension Plan Began: 1983
Originally launched by former PGA Commissioner, Deane Beman, the current PGA pension uses a complicated formula to determine earnings for retired players -- with benefits available at the age of 60. It's based on a combination of the number of tournaments in which a player makes the cut, total earnings each year, and earnings during three separate segments of each PGA season.
Using a performance-based pension plan instead of just the number of years played is done to encourage players to enter more tournaments. There are incentives throughout the plan, such as earning double the more than $3,200 per cut after a golfer reaches 15 cuts.
While it is unrealistic to assume golfers will hit every incentive, the PGA's plan is still considered the best in pro sports. Even with limiting the number of tournaments he competes in, Tiger Woods' estimated pension is around $200 million, and could go as high as $300 million.
2006-06-21 12:42:58 · answer #1 · answered by Steve 3 · 0⤊ 1⤋
They have a plan they can put money into like an IRA or Roth. The PGA helps with it
2006-06-16 08:25:27 · answer #2 · answered by Doug 7 · 0⤊ 0⤋
i have no idea
2006-06-16 08:00:08 · answer #3 · answered by ♥ miss Anonymous 1 · 0⤊ 0⤋