Do those who finished behind Tiger Woods in the Fed Ex Cup last year receive their money in an annuity too?

Question

Or did they receive the money outright? The ten million Tiger won was put in an annuity. Anybody know? I have tried looking it up online, but all I found was how the money was dispersed.

Answer 1

they also recieved annuities but they were much smaller. i think second was like 3 million and third was 1 but i am not sure. they definitely didnt win millions of dollars outright.

Answer 2

yep.  They recieve the money in a retirement account too, just not as much as he does.

Answer 3

The player with the most points after The Tour Championship will win the FedEx Cup itself and $10 million of a $35 million bonus fund. The runner-up gets $3 million, 3rd place $2 million, 4th place $1.5 million, 5th place $1 million, and so on down to $32,000 for 144th place. However, in 2007, the money was placed into their tax-deferred retirement accounts, not given in cash. Players under 45 are not able to access any 2007 FedEx Cup bonuses (as opposed to prize money earned in the tournaments themselves) until turning 45. They can invest their bonus in any manner they choose, and once they turn 45, can choose to defer payment until they turn 60 or play in fewer than 15 PGA Tour events in a season. Once a player chooses to take payments from his fund, he will receive monthly checks for five years.[1][2]

Because of possible legislation affecting deferred retirement plans, in the wake of business stories that speculated that Tiger Woods could amass a $1 billion retirement fund if he won the FedEx Cup six more times, the PGA Tour announced a change to the payout system effective in 2008. The top 10 finishers will now receive the bulk of their FedEx Cup bonuses in cash up front; for example, the 2008 FedEx Cup champion will receive $9 million up front and $1 million in his tax-deferred retirement account. FedEx Cup bonuses to finishers below the top 10 will continue to be paid solely into the players' retirement accounts.[3]