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2008
Estimated Premium Payment Instructions
Pension Benefit Guaranty Corporation
To All Plan Administrators:
Enclosed are instructions for plans that are required to pay estimated flat-rate premiums to the
Pension Benefit Guaranty Corporation (PBGC) for the 2008 plan year (i.e., plans that were
required to pay premiums for 500 or more participants for the 2007 plan year). The inflationadjusted per-participant flat-rate premium for 2008 is $33 for single-employer plans and $9 for
multiemployer plans.
While the filing requirements for the estimated flat-rate premium have changed little, there are
many changes to other PBGC premium filing requirements, particularly with respect to the
variable rate premium, as a result of the Pension Protection Act of 2006 (PPA 2006) and
amendments to the premium regulations. These changes are described in PBGC’s new
“Comprehensive Premium Payment Instructions” for 2008, which will be available on the
Practitioners Page of PBGC’s Web site (www.pbgc.gov).
To help with the transition to the new PPA 2006 requirements, we have provided information on
our Web site. To view online information on PPA 2006 and other premium-related information,
go to the Practitioners Page and click on the applicable link, e.g., “What’s New,” “Online
premium filing (My PAA),” and “Premium forms and instructions.”
Starting with 2009 — the third year electronic premium filing is required for all plans —
premium instructions will no longer be mailed to practitioners unless specifically requested.
Premium instructions will continue to be available on our Web site and within PBGC’s e-filing
application, My Plan Administration Account (My PAA).
For all premium-related inquiries, please call our toll-free practitioner number, 1-800-736-2444,
and select the “premium” option, or e-mail us at [email protected]. If you have a complaint
about the service you have received or still need assistance after calling our practitioner number,
please contact our Problem Resolution Officer at 1-800-736-2444, ext. 4136 (202-326-4136 for
local calls) or by e-mail at [email protected].
Charles E. F. Millard
Interim Director
Pension Benefit Guaranty Corporation
CONTACTS
1.
PBGC’s Web site (www.pbgc.gov) contains pension plan information of interest to plan administrators and
practitioners, such as electronic premium filing, current and prior premium filing booklets, frequently asked
questions, interest rates, regulations, etc. This information can typically be accessed via the Practitioners Page.
The “What’s New” section of the Practitioners Page provides information on recent events (e.g., disaster relief).
2.
Submit electronic premium filings (including electronic amended filings) through “My Plan Administration
Account” (“My PAA”) on PBGC’s Web site. Access My PAA information via the Practitioners Page and
follow instructions about how to use My PAA for submitting premium payments.
3.
For a paper premium filing (if exempt from mandatory e-filing):
a.
If you send your filing via the U.S. Postal Service (regular or certified mail), address it to:
Pension Benefit Guaranty Corporation
Dept. 77430
P.O. Box 77000
Detroit, MI 48277-0430
b.
If you send your filing by a delivery service that does not deliver to a P.O. Box, address it to:
Pension Benefit Guaranty Corporation
JPMorgan Chase Bank, N.A.
9000 Haggerty Road
Dept. 77430
Mail Code MI1-8244
Belleville, MI 48111
c.
If you are paying by check, write the EIN/PN and the date the Premium Payment Year commenced (PYC)
on the check and include your check with the paper filing.
d.
If you are paying by electronic funds transfers (ACH or Fedwire) — make the transfer to:
JPMorgan Chase Bank, N.A.
ABA: 071000013
Account: 656510666
Beneficiary: PBGC
Reference: “EIN/PN: XX-XXXXXXX/XXX
PYC: MM/DD/YY”
Report the EIN/PN and the date the Premium Payment Year commenced (PYC) in the payment ID line of
the electronic funds transfer in the format “EIN/PN: XX-XXXXXXX/ XXX PYC: MM/DD/YY.” Since
we process these payments electronically, strict adherence to this format is required for accurate and timely
application of your payment. Any deviation from the prescribed format may result in our sending you a
bill for premium, interest, and penalty if our automated system cannot apply your payment.
4.
For all premium-related correspondence (other than submitting a paper filing), including requests for
exemption from the requirement to file electronically, premium filing questions (for electronic or paper filings),
requests for instructions, address changes, requests for refunds (that are not submitted with premium filings),
and requests for reconsideration of premium penalty assessments:
a.
If you send your correspondence via the U.S. Postal Service (regular or certified mail), address it to:
Pension Benefit Guaranty Corporation
Dept. 77840
P.O. Box 77000
Detroit, MI 48277-0840
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5.
6.
b.
If you send your correspondence by a delivery service that does not deliver to a P.O. Box, address it to:
Pension Benefit Guaranty Corporation
JPMorgan Chase Bank, N.A.
9000 Haggerty Road
Dept. 77840
Mail Code MI1-8244
Belleville, MI 48111
c.
Call: 1-800-736-2444 or 202-326-4242 (Note - requests for exemptions from e-filing requirement cannot
be made by phone.)
d.
Fax: 202-326-4250
e.
E-mail: [email protected]
For current interest rate information:
a.
Call: 202-326-4041
b.
See: Interest Rate section in top left corner of the Practitioners Page of PBGC’s Web site.
For assistance on coverage determination or plan termination:
a.
Call: 1-800-736-2444 or 202-326-4242
b.
E-mail: [email protected]
c.
Write to:
Pension Benefit Guaranty Corporation
Insurance Program Department
Technical Assistance Branch
1200 K Street, NW
Washington, DC 20005-4026
7.
If you have a complaint about the service you have received or still need assistance after calling our practitioner
telephone numbers listed in items 4 and 6 (1-800-736-2444 or 202-326-4242), please contact the Problem
Resolution Officer (Practitioners):
a.
Call: 1-800-736-2444, ext. 4136, or 202-326-4136
b.
E-mail: [email protected]
c.
Write to:
Pension Benefit Guaranty Corporation
Financial Operations Department
Problem Resolution Officer (Practitioners)
1200 K Street, NW
Washington, DC 20005-4026
8.
9.
For questions about our Premium Compliance Evaluation Program:
a.
Call: 1-800-736-2444, ext. 6309, or 202-326-4161, ext. 6309
b.
E-mail: [email protected]
For software developers requesting approval of XML files produced by private-sector software for use in My
PAA, follow submission instructions on PBGC’s Web site (www.pbgc.gov).
TTY/TDD users may call the Federal relay service toll-free at 1-800-877-8339 and ask to be connected to any
telephone number.
Note: We cannot accept collect calls.
Note: PBGC filing addresses may change from time to time. Use the most current addresses, even for prior year filings
(such as amended filings). The addresses on this page will be valid at least through June 30, 2010.
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Pension Benefit Guaranty Corporation
Customer Service Plan for Plan Administrators
What is Our Mission?
The Pension Benefit Guaranty Corporation (PBGC) encourages a stable, adequately funded system of private pension
plans and provides responsive, timely, and accurate services to participants in insured plans, plan administrators, plan
sponsors, and other pension practitioners.
Who Are Our Customers and What Services Do We Provide?
As a plan administrator of a pension plan that pays premiums to PBGC, you are one of PBGC’s principal customers. In
administering the premium collection program, we:
Collect premiums from covered plans;
Issue annual premium instructions;
Answer questions from plan administrators, plan sponsors, and other practitioners about premium payments;
Process premium-related requests, including requests for refunds and administrative changes;
Issue past due filing notices and statements of account (premium invoices), as appropriate;
Make decisions on requests for reconsideration of agency determinations in the premium administration area.
Of course, our dealings with plan administrators, plan sponsors, and other pension practitioners go beyond premium
collections. Should a defined benefit pension plan terminate, as either a standard or a distress termination, you have
dealings with PBGC to bring the case to closure.
Our Service Pledge
Our customers deserve our best effort as well as our respect and courtesy.
On the first call from you, our customer, we will say —
what we can do immediately and what will take longer,
when it will be done, and
who will handle your request.
In addition,
We will call you if anything changes from what we first said, give you a status report and explain what will
happen next.
We will have staff available from 8:00 a.m. - 5:00 p.m. Eastern Time to answer your calls. If you leave a message,
we will return the call within one workday.
We will acknowledge your letter within one week of receipt.
Survey Results and Service Improvement Efforts
The most recent customer satisfaction survey of premium filers shows increased satisfaction with our service and the
lowest-ever level of practitioner complaints. We are pleased with this improvement, but also note that you would like
us to continue to improve both customer care and the timeliness of premium refunds, two areas we will continue to
focus on.
Our new premium accounting system is expected to contribute to faster resolution of questions and timelier invoices
and notices (e.g., statements of account). We also expect premium e-filing via My PAA (My Plan Administration
Account) to contribute to more accurate and timely filings, plan account histories, and notices. We hope that our
efforts will mean a positive experience for you whenever and however you interact with PBGC. We continue to seek
ways to make our processes more responsive to the needs of the practitioner community. If you have any comments,
questions or complaints, please contact us by telephone, fax or e-mail at one of the numbers or addresses listed in the
CONTACTS section, item 4.
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Paperwork Reduction Act Notice
We need this information to identify the plan and plan year for which an estimated premium is paid to
the Pension Benefit Guaranty Corporation (PBGC) pursuant to Title IV of the Employee Retirement
Income Security Act of 1974 (ERISA) and PBGC’s premium regulations (29 CFR Parts 4006 and
4007), and to determine the amount of estimated premium due. You are required to give us this
information. An agency may not conduct or sponsor, and a person is not required to respond to, a
collection of information unless it displays a currently valid OMB control number. OMB has
approved this collection of information under control number 1212-0009. Confidentiality is that
provided by the Privacy Act and the Freedom of Information Act.
The estimated burden associated with the preparation and submission of an estimated premium filing
is one and one-half hours (for filings done in-house) or $413 (for filings contracted out). (PBGC
assumes that 95 percent of the burden of making estimated premium filings is contracted out.) These
burden estimates are an average for the plans that make this filing. The actual burden will vary
depending on the circumstances of a given plan.
If you have comments concerning the accuracy of these burden estimates or suggestions for making
the form or the electronic filing process simpler, please send your comments to:
Pension Benefit Guaranty Corporation
Legislative & Regulatory Department
1200 K Street, NW
Washington, DC 20005-4026
Help Us Post Your Premium Filings Promptly And Accurately
Electronic filing is required for premium filings for the 2008 plan year. (PBGC may grant
exemptions from the e-filing requirement for good cause in appropriate circumstances.) Electronic
filing using the My Plan Administration Account (My PAA) application that is on PBGC’s Web site
means your filing is posted faster and more accurately. Information about e-filing your premiums is
included in this booklet (see p. 12).
In addition, please remember:
A. Do NOT combine the premiums for two or more plans into one payment.
B. Include EIN/PN and PYC on all payments and correspondence.
C. If you file electronically and pay by paper check, use the voucher that is generated during the
e-filing process. (PBGC does not generate vouchers for batch uploads.)
D. Send correspondence to the correspondence addresses in the CONTACTS section, item 4.
E. Notify PBGC of EIN/PN changes. EIN/PN changes should be reported in your premium
filing.
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2008 PBGC ESTIMATED FLAT-RATE PREMIUM FILING INSTRUCTIONS for LARGE PLANS
The rules for estimated flat-rate premium filings have not changed since 2007. However,
there have been many changes to other rules related to PBGC premium filings as a result of
the Pension Protection Act of 2006 and amendments to the premium regulations. PBGC’s
new “Comprehensive Premium Filing Instructions” for 2008 contain a detailed description
of the changes and the new rules. That document will be available on the Practitioners Page
of PBGC’s Web site (www.pbgc.gov).
Introduction
This booklet describes the information that must be reported for a plan paying an estimated flatrate premium.
Payment of premiums to the Pension Benefit Guaranty Corporation (PBGC) is required by
sections 4006 and 4007 of the Employee Retirement Income Security Act of 1974 (ERISA), and
PBGC’s premium regulations (29 CFR Parts 4006 and 4007). Every covered plan under ERISA
section 4021 must pay premiums each year. There are two kinds of annual premiums: the flatrate premium, which applies to all plans, and the variable-rate premium, which applies only to
single-employer plans.
Applicability
A plan that was required to pay premiums for 500 or more participants for the plan year
preceding the premium payment year must pay the flat-rate premium early in the premium
payment year. This booklet applies only to plans that meet this criterion. (New and newly
covered plans do not pay an estimated premium — see the 2008 Comprehensive Premium Filing
Instructions.)
Because the participant count often is not available until later in the premium payment year, we
permit filers to make estimated flat-rate premium filings. In addition, we do not assess late
payment penalties (note that interest is assessed) for estimates that are too low if they meet “safe
harbor” requirements, discussed below.
Electronic Filing Required
Electronic filing is mandatory for all premium filings.
There are three ways to submit your premium filing electronically:
You can use data entry and editing screens in the “My Plan Administration Account” (“My
PAA”) application on PBGC’s Web site (www.pbgc.gov) to create the filing and submit it
electronically to PBGC.
You can use compatible private-sector software to draft a filing and then import it into My
PAA’s data entry and editing screens for review, certification, and submission to PBGC.
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You can use compatible private-sector software to create the filing and then upload it directly
to PBGC via the My PAA application.
If you owe a premium payment, you can submit your payment electronically via My PAA. My
PAA provides three payment alternatives (Automated Clearing House (ACH), internet check, and
credit card). To pay via My PAA, you complete the requested information (e.g., bank routing
number and bank account number). On the other hand, if you prefer, you can pay by electronic
funds transfer (i.e., “Fedwire” or ACH payment) outside of My PAA or mail a paper check.
Electronic premium filing procedures are described in more detail beginning on p. 12 of this
booklet. PBGC’s Web site has full details and filing instructions.
To sign up for, or review information about, My PAA, go to PBGC’s Web site (www.pbgc.gov),
select Practitioners Page, and then click on “Online premium filing (My PAA).” If you have
questions, please send an e-mail to [email protected] or call our toll-free practitioner number,
1-800-736-2444, and select the “premium” option.
Exemption From the E-Filing Requirement
PBGC may grant an exemption from the requirement to file electronically for good cause in
appropriate circumstances. PBGC will weigh each request for exemption on the basis of the
particular facts and circumstances presented. To provide PBGC adequate time to review and
respond to an exemption request, the request should be submitted as early as possible, preferably
at least 60 days before the filing due date. Addresses for exemption requests (and for questions
regarding exemption requests) are in item 4 under the CONTACTS section.
If you receive an exemption from electronic filing, you must use the PBGC Form 1-ES to submit
your estimated flat-rate premium information. Forms may be downloaded from PBGC’s Web
site. Requests for forms also may be made as described in item 4 under the CONTACTS section.
If for some reason an exemption request is not submitted before the filing due date and a paper
filing is made, an exemption request must accompany the paper filing.
Failure to comply with the electronic filing requirement without an exemption is subject to
penalty under ERISA section 4071.
When To File
An estimated flat-rate premium filing and payment generally must be made by the last day of the
second full calendar month in the plan year. 1 (For the first full plan year following a change in
plan year, the filing due date is 30 days following the date on which a plan amendment changing
the plan year was adopted, if later.)
If your due date would fall on a weekend or Federal holiday, your premium filing will be
considered timely if you file by the next business day.
1
Technically, the due date for the estimated flat-rate premium filing is the last day of the second full
calendar month following the close of the plan year preceding the premium payment year. In situations
involving a short plan year, the due date may not fall “in the plan year.”
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The 2008 deadlines for estimated flat-rate premium filings are shown in the following table.
2008 Premium Payment
Estimated Filing Due Date
Year Begins
1/1/2008
02/29/2008
01/02 - 02/01/2008
03/31/2008
02/02 - 03/01/2008
04/30/2008
03/02 - 04/01/2008
06/02/2008*
04/02 - 05/01/2008
06/30/2008
05/02 - 06/01/2008
07/31/2008
06/02 - 07/01/2008
09/02/2008*
07/02 - 08/01/2008
09/30/2008
08/02 - 09/01/2008
10/31/2008
09/02 - 10/01/2008
12/01/2008*
10/02 - 11/01/2008
12/31/2008
11/02 - 12/01/2008
02/02/2009*
12/02 - 12/31/2008
03/02/2009*
*Note: If your filing is not made by this date, penalty and interest will be calculated from the last
day of the preceding month rather than the following business day, e.g., from Sunday, August 31,
2008, rather than Tuesday, September 2, 2008.
Reconciling Estimated Flat-Rate Premium Filings
Reconciling
If an estimated flat-rate filing is submitted, the flat-rate premium must be reconciled later in the
plan year. The flat-rate reconciliation filing is due at the same time the variable-rate premium
(for large single-employer plans) is due, which is the 15th day of the 10th full calendar month in
the plan year. (For example, the flat-rate reconciliation filing for 2008 calendar-year plans is due
October 15, 2008.) In prior years, this reconciliation filing was called the “final filing.”
Beginning in 2008, it is called the “comprehensive premium filing.”
Interest
If the amount of estimated premium paid by the Estimated Filing Due Date (see Table, above) is
less than the total flat-rate amount due for the premium payment year, there will be a charge for
interest on the difference between the two amounts from the Estimated Filing Due Date until the
additional amount due is paid. Interest cannot be waived and is not subject to the safe harbor
rules for penalties described below. Interest accrues at the rate imposed under section 6601(a) of
the Internal Revenue Code (the rate for late payment of taxes) and is compounded daily. These
rates are available on PBGC’s Web site (www.pbgc.gov).
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Penalty; Safe Harbor Rules
If the amount of estimated premium paid by the estimated filing due date is less than the total flatrate amount due for the premium payment year, there may be a late payment penalty. However,
there are “safe harbor” rules for avoiding the penalty (but not the interest):
If you did not make an estimated premium payment because you erroneously reported fewer
than 500 participants for the plan year preceding the premium payment year, no penalty will
be charged for the period from the estimated filing due date to the date the flat-rate
reconciliation filing is due.
You can avoid the penalty for the period from the estimated filing due date to the date the
flat-rate reconciliation filing is due if the estimated flat-rate premium payment you make by
the estimated filing due date is at least equal to the lesser of:
(1) 90 percent of the flat-rate amount due for the premium payment year, or
(2) an amount equal to the participant count for the plan year preceding the premium payment
year multiplied by the 2008 flat premium rate. This test will be met if the amount paid is
sufficient using either the actual participant count for the plan year preceding the premium
payment year or a smaller count that was erroneously reported.
For purposes of determining whether a penalty is due, the participant count “erroneously
reported” refers to the premium filing (or last amended filing) for the plan year preceding the
premium payment year made to PBGC by the estimated filing due date for the premium payment
year.
Note that if you take an estimated short-year credit for a short 2008 plan year, the amount of the
estimated short-year credit is counted toward meeting the safe harbor requirement, the same as
any other credit. Thus, if the amount you pay with your estimated filing, plus all credits, is at
least equal to the safe harbor amount, the safe harbor requirement will be met. See p. 12, item 7
for information on short-year credits.
Description of Data Elements (line-by-line instructions)
This section provides a description of each required data element. It is presented in the same
order as the “form” used to illustrate the data elements (the form is on PBGC’s Web site,
www.pbgc.gov). Item numbers are presented solely to facilitate understanding. The data entry
and editing screens in My PAA do not include item numbers. If you are using private-sector
software to prepare your filing, item numbers may or may not be included.
Note for plans with more than one plan year beginning in 2007 or 2008:
References in these instructions to the 2007 plan year (and to filings and notices for the 2007 plan
year) should be considered to refer to your plan’s most recent complete plan year. For example, a
plan that changes its plan year could have two plan years beginning in calendar 2008. When such
a plan makes its premium filing(s) for its second 2008 plan year, the references in these
instructions to the 2007 plan year (and to filings and notices for the 2007 plan year) should be
considered to refer to the plan’s first 2008 plan year (and to filings and notices for that plan year),
because that is the plan’s most recent complete plan year. Similarly, if your plan had two plan
years beginning in calendar 2007, the references in these instructions to the 2007 plan year (and
to filings and notices for the 2007 plan year) should be considered to refer to the plan’s second
2007 plan year, which is the plan’s most recent complete plan year.
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Amended Filings
If you discover after you have made an estimated flat-rate premium filing for the 2008 plan year
(but before you make your comprehensive premium filing) that you have made an error in your
estimated filing, you must make an amended filing to correct the error. Make a new estimated
filing for the plan year, but report that it is an amended filing. Provide the same information as
you would for an original filing, indicating the corrected premium. Claim as credits the sum of
the credits you previously claimed (in your original estimated filing) plus the amount you paid
with your original estimated filing. Report the net amount due with the amended filing. This
should equal the difference between the new total estimated premium due and the new total
credits. (If the amended estimate is lower than the original estimate, the amount due will be
zero.) Submit your amended estimated filing with payment for any amount due.
Disaster Relief
From time to time, when major disasters occur, PBGC grants disaster relief by waiving late filing
penalties for certain plans. Disaster Relief Announcements are available on PBGC’s Web site
(www.pbgc.gov). If your plan is covered by a PBGC Disaster Relief Announcement for this
premium filing, report that fact and follow the instructions in the Disaster Relief Announcement.
Provide any explanation called for in the Disaster Relief Announcement.
1. Plan sponsor information
Report the name and address of the plan sponsor. If either has changed since your last filing,
check the box to report that fact.
2. Plan administrator information
Report the name and address of the plan administrator. If the plan administrator’s name and
address is the same as that of the plan sponsor, you may satisfy this requirement by checking the
box to report that fact. If the plan administrator’s name or address has changed since your last
filing, check the box to report that fact.
3a. Employer Identification Number (EIN)
Report the 9-digit EIN of the plan sponsor.
3b. Plan Number (PN)
Report the 3-digit PN of the plan.
3c. Transfers from disappearing plans
Report whether or not a plan other than yours ceased to exist in connection with any transfer of
assets or liabilities from that plan to your plan since the last premium filing.
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For each plan that ceased to exist in connection with a transfer of assets or liabilities from that
plan to your plan since the last premium filing, report the EIN and PN of the plan, the effective
date of the transfer, and whether the transaction involved was a merger, consolidation, or spinoff.
You do not need to report any transfer unless the transferor plan ceased to exist in connection
with the transfer, i.e., transferred all of its assets and liabilities to your plan or to two or more
plans including your plan. You also do not need to report a transfer if you have no reasonable
way of determining whether the transferor plan ceased to exist in connection with the transfer.
3d. Information about exemption from electronic filing (paper filers only)
Paper filings should only be submitted if PBGC has granted your plan an exemption from the
requirements to make this filing electronically. If you make a paper filing, report whether PBGC
has granted your plan an e-filing exemption.
If you do not have an exemption, but you choose to make a paper filing in anticipation of an
exemption, you may make your filing on PBGC’s paper forms, but you must include an
attachment explaining that you do not have an exemption and providing an explanation of why
you are submitting a paper filing. If you submitted an exemption request to which PBGC has not
yet responded, report the date the request was submitted in the attachment. If you have not yet
submitted an exemption request, attach it to your filing.
Note that if you do not receive the anticipated exemption, your paper filing will not satisfy the
electronic filing requirement. Failure to comply with the electronic filing requirement without an
exemption is subject to penalty under ERISA section 4071.
4. Employer Identification Number (EIN) and Plan Number (PN), if different from prior PBGC
filing
If the EIN and PN for this filing do not both match exactly the EIN and PN for your last premium
filing for this plan, report both the EIN and PN for the last premium filing and report the effective
date of the change in the EIN and PN.
5. Plan information
Report the complete name of the plan as stated in the plan document, e.g., “The ABC Company
Pension Plan for Salaried Personnel.” Report the date the premium payment year commences
and the date it ends.
6. Information about estimated participant count and premium
Report your estimated participant count for the plan year. Participants are counted as of the last
day of the plan year preceding the premium payment year.
Report whether your plan is a single-employer plan subject to the $33 flat premium rate or a
multiemployer plan subject to the $9 flat premium rate. Report your plan’s estimated flat-rate
premium, equal to the estimated participant count multiplied by the flat premium rate.
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7. Credits; Proration for short plan years
In general — Report the credits you are entitled to claim against your estimated premium: (1)
any available credit from your 2007 final premium filing, and (2) any estimated short-year
credit. You must provide an explanation of any credit you claim, other than a credit from
your 2007 final premium filing.
Proration for short plan years — Estimated flat-rate premium payments may be prorated. The
short year need not have ended by the time you pay a prorated premium, but if the plan year
turns out to be longer than you anticipated, you will have to make up any premium
underpayment (which will be subject to interest and penalties).
However, there is a penalty safe-harbor rule for estimated flat-rate premium payments that
are prorated for a short plan year resulting from a change in plan year. The safe harbor
applies where the amendment changing the plan year has been adopted, but the short year has
not ended, by the filing due date, and later events result in a plan year longer than anticipated
because the plan year change does not take place. Any penalty arising from reliance on the
amendment is waived for the period from the filing due date to the comprehensive filing due
date. (There is no waiver for interest.)
8. Information about payment due PBGC
If the estimated premium equals or exceeds the credits, subtract the credits from the estimated
premium and report the result as the payment due PBGC. This is the amount you owe PBGC.
Report whether you are paying by paper check or electronically. Do not combine the premiums
for two or more plans into one payment.
Online Premium Filing with My PAA
Introduction
My Plan Administration Account (My PAA) is a secure, Web-based application that enables you
to electronically submit premium filings and payments to PBGC. Although electronic filing of
premium information is mandatory, payments may be made either electronically or by paper
check.
Information about how to use My PAA may be accessed through the Practitioners Page of
PBGC’s Web site (www.pbgc.gov), as well as within the My PAA application itself.
To use My PAA, you must set up a My PAA account which includes a user ID and password.
Each My PAA user needs only one account, which can include an unlimited number of plans.
My PAA offers three e-filing methods:
You can use My PAA’s data entry and editing screens to create a filing; route it to others for
review, editing, and electronic certification; and submit it electronically to PBGC. Each
person who participates in the electronic processing of the filing must have a My PAA
account.
You can use private-sector software that is compatible with My PAA to create a filing, and
then import the filing data into My PAA’s data entry and editing screens for routing, review,
editing, electronic certification, and electronic submission to PBGC. Each person who
participates in the electronic processing of the filing must have a My PAA account.
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You can use private-sector software that is compatible with My PAA to create a filing, and
then upload the filing to PBGC via the My PAA application. The filing cannot be routed,
reviewed, or edited in My PAA. In most cases, a paper copy or copies of the filing must be
certified outside of My PAA and retained in plan records. Only the person who uploads the
filing must have a My PAA account.
My PAA’s Data Entry and Editing Screens
Entering information
My PAA’s data entry and editing screens walk you through a step-by-step process to create a
premium filing. For example, in the first step you identify the type of filing to be submitted
(estimated flat-rate premium filing for large plans or comprehensive premium filings for all other
purposes), the type of plan (single-employer or multiemployer) for which the filing is being
submitted, and the plan year. Instructions are provided at each step.
The required mathematical calculations are automated. For example, My PAA automatically
multiplies your participant count by the applicable flat premium rate to generate the flat-rate
premium.
E-filing team
Multiple people can contribute to a plan’s filing in My PAA’s data entry and editing screens. For
example, some information might be entered by the plan administrator and other information by
an actuary. The people authorized to contribute to a plan’s premium filing in My PAA’s data
entry and editing screens are those who have the plan in their My PAA accounts, and are referred
to as the plan’s “e-filing team.”
Routing filings
Filings in progress can be routed among e-filing team members through My PAA for input,
review, editing, e-certification of information, authorization of payment, and submission to
PBGC. The person routing the filing to another member of the e-filing team can provide
comments and instructions for the person to whom the filing is being routed. My PAA sends that
person an e-mail notice (with the comments and instructions) stating that the filing has been
routed for the recipient’s action and that the recipient is now “holding” that filing. After all
information has been provided and certified, and payment (if any) has been authorized, the filing
can be electronically submitted to PBGC by the Plan Administrator or Filing Coordinator.
Using Private-Sector Software with My PAA
Compatibility with My PAA
You can use private-sector software to prepare a premium e-filing, but the software you use must
be compatible with My PAA. That means that the software must be able to place your filing in an
electronic file that is in “XML” format and meets PBGC specifications. The specifications are
posted on PBGC’s Web site (www.pbgc.gov). Private-sector software providers and developers
submit to PBGC sample filings in XML format for PBGC review and assignment of vendor
numbers; you should check with your software provider or developer to find out whether your
software is capable of creating an XML file in the proper format for use with My PAA. If your
compatible private-sector software permits, you can create batch files containing more than one
premium filing for use with My PAA.
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Importing a filing
A premium filing that has been prepared with compatible private-sector software can be
“imported” into My PAA’s data entry and editing screens. That means that the information in the
filing is placed into the data entry and editing screens and can then be electronically routed,
reviewed, edited, certified, and submitted to PBGC as described above (see “My PAA’s Data
Entry and Editing Screens,” above). To import a filing for a plan, the plan must be in your My
PAA account. My PAA provides instructions for importing filings.
Uploading a filing
A premium filing that has been prepared with compatible private-sector software can also be
“uploaded” through My PAA. That means that the fully-completed filing is submitted directly to
PBGC and, therefore, cannot be reviewed or edited in My PAA before submission to PBGC. My
PAA’s upload feature also allows multiple filings to be uploaded at the same time (i.e., a “batch
upload”).
To upload a filing for a plan, the plan need not be in your My PAA account, but you must have a
My PAA account with at least one plan in it. You must electronically certify in My PAA that you
have authority to submit the filing for the plan, but in most cases the information in the filing
must be certified on paper outside My PAA, and the certified information must be retained in
plan records. (The plan administrator’s (or enrolled actuary’s) certification can be made on-line
if it is the plan administrator (or enrolled actuary) who uploads the filing.) My PAA provides
instructions for uploading filings and for certifying the information in uploaded filings.
Filing Coordinator
A central role in the e-filing process is played by the “filing coordinator,” who is the person
designated by the plan or plan sponsor to be responsible for coordinating the plan’s on-line
premium filings. The filing coordinator for a plan is the one who adds that plan to the account of
each other person and assigns each member of the e-filing team one or more filing roles, such as
the authority to certify a filing (e.g., as the plan administrator). My PAA provides instructions for
becoming a plan’s filing coordinator, adding plans, adding e-filing team members, assigning roles,
etc.
Payment Options
Payment within My PAA — If you owe a premium, you can pay it using My PAA. My
PAA offers three electronic payment methods:
-
Automated Clearing House (ACH) — This payment method involves the electronic
transfer of funds from an account that you specify by entering your account number and
bank routing number.
-
Electronic check — This is the electronic equivalent to writing a paper check to PBGC.
It involves entering the check number of a (voided) paper check, your account number,
and your bank routing number.
-
Credit card — My PAA currently accepts Visa and MasterCard as payment options. A
convenience fee (which is passed on to the credit card processor) of approximately 3.09
percent of the total premium amount is added to a premium payment made by credit card.
The maximum allowable credit card payment is $99,999.99 (including the convenience
fee).
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Payment outside of My PAA — Payment outside My PAA is permitted for any filing and is
required for filings in a batch upload. The options are:
-
Electronic funds transfer (EFT) via Automated Clearing House (ACH) or Fedwire —
You arrange for payment to be electronically transferred by providing your bank with
PBGC’s EFT information as follows:
JPMorgan Chase Bank, N.A.
ABA: 071000013
Account: 656510666
Beneficiary: PBGC
Reference: “EIN/PN: XX-XXXXXXX/XXX
PYC: MM/DD/YY”
Report the Employer Identification Number and Plan Number (“EIN/PN”) and the date
the Premium Payment Year commenced (PYC) in the payment ID line of the electronic
funds transfer in the format “EIN/PN: XX-XXXXXXX/ XXX PYC: MM/DD/YY.”
Since we process these payments electronically, strict adherence to this format is required
for accurate and timely application of your payment. Any deviation from the prescribed
format may result in our sending you a bill for premium, interest, and penalty if our
automated system cannot apply your payment.
-
Paper check — write the Employer Identification Number and Plan Number (“EIN/PN”)
and the date the premium payment year commenced (PYC) on the check to help ensure
the accurate and timely application of your payment. In addition, My PAA typically
provides you with a voucher 2 to send in with your check to help PBGC automatically
match your check with your filing. Send the check and voucher (if provided) via the U.S.
Postal Service to:
Pension Benefit Guaranty Corporation
Dept. 77430
P.O. Box 77000
Detroit, MI 48277-0430
If you use a delivery service that does not deliver to a P.O. Box, your premium payment
may be hand-delivered to:
Pension Benefit Guaranty Corporation
JPMorgan Chase Bank, N.A.
9000 Haggerty Road
Dept. 77430
Mail Code MI1-8244
Belleville, MI 48111
Other Important My PAA Features
Filing receipts — My PAA gives you a filing receipt. For a filing submitted from My PAA’s
data entry and editing screens (including a filing imported into My PAA), the filing receipt
shows the date and time of receipt by PBGC, a confirmation number, and all of the
2
My PAA does not provide a voucher when filings for multiple plans are uploaded at the same time (i.e.,
“a batch upload”).
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information submitted in the filing. For an upload, the filing receipt shows the date and time
of receipt by PBGC, a confirmation number, and the name of the uploaded XML file, but
does not show any of the filing information in the uploaded file.
Account history — A member of a plan’s e-filing team may, if authorized by the filing
coordinator, view the plan’s account history on-line through My PAA. The account history
shows the results of PBGC’s processing of your premium filings and payments for each plan
year.
Instructions — My PAA provides full filing instructions and help screens. In addition,
PBGC’s Web site provides information and “demos” about how to get started and how to use
My PAA. To access the My PAA information, select Practitioners Page, and then click on
“Online premium filing (My PAA).”
For More Information
If you have questions about e-filing with My PAA, please contact us at any of the phone numbers
or addresses in the CONTACTS section, item 4.
I:\regulatory\RM\P P P\2008\2008 EPPP instructions to OMB_11.30.07.doc
- 16 -
| File Type | application/pdf |
| File Title | 2007 PBGC ESTIMATED PREMIUM INSTRUCTIONS |
| Author | PBGC User |
| File Modified | 2007-11-30 |
| File Created | 2007-11-30 |