Richard Sandomir looks at the FedEx Cup annuity concept and says it benefits the players.
This looks like a dandy version of a 401 (k) plan, assuming the PGA Tour doesn’t go belly up and well-heeled folks don’t start hating golf. And it is just the luck of pro golfers that in the privileged sanctum of the PGA Tour, such a retirement plan is possible and a sponsor like FedEx is financing it. The plan was approved last November by the Tour’s policy board, five months after the particulars of the FedEx Cup were announced.
“This was a decision made in the best interest of the vast majority of the players,” said Ty Votaw, an executive vice president of the PGA Tour. “But we recognize that some players would prefer to be paid upfront.”
He added, “Players were encouraged to speak to their accountants.”
But are accountants necessarily the best judges of what would add drama and interest to the FedEx Cup?