The United States Professional Tennis Association has partnered with High Street Securities, Goldleaf Partners and Paloma Financial Services to provide a retirement program exclusively for USPTA Professionals, the association announced on Thursday at its annual World Conference at the Hyatt Grand Regency Cypress in Orlando.
The retirement package and savings plan is the first of its kind to be offered to USPTA Professionals and is modeled after the Professional Golf Association’s (PGA) Golf Retirement Plus plan that has been in existence for the past 13 years.
“A lot of tennis-teaching professionals are looking to invest in a savings vehicle, and our members have requested a service like this for years,” said USPTA CEO John Embree. “We have three terrific partnerships with High Street Securities, Goldleaf Partners and Paloma Financial Services and are excited to be able to provide another tangible and quantifiable benefit to our members.”
Founded in 1997, the PGA’s retirement program allows its professionals to make their own contributions or have their employers contribute to their account on their behalf. PGA professionals may also earn personal incentives by participating in sponsor programs.
Beginning on Oct. 1, 2013, High Street will provide investment support and insurance products and services for USPTA members, including offering non-qualified, tax-deferred savings plans, qualified savings plans and a variety of individual insurance and investment solutions for association members.
High Street will utilize the services of Paloma Financial to provide sales and support services to USPTA Professionals. Paloma will provide agents and/or advisors to plan participants and serve as a primary resource for sales, support and customer service issues of USPTA Professionals participating in one or more of the plan offerings.
Starting in 2014, USPTA endorsees will also make contributions from a percentage of sales of purchases from pro shops by investing into USPTA Professionals’ retirement accounts.