PBGC Accepting My PAA Premium Filings

February 18, 2004 (PLANSPONSOR.com) - Plan sponsors, administrators and pension practitioners have a new avenue to submit premium filling to the Pension Benefit Guaranty Corporation (PBGC).

>The new system, My Plan Administration Account (My PAA), is an online e-filing service center that provides an electronic gateway as an alternative to PBGC’s current paper-based filing process.   In a news release, the PBGC announced that for plan years commencing in 2004 and later the agency will accept electronic premium filings and payments, prepared via PBGC’s secure Web site, from companies that sponsor defined benefit pension plans.

>As an alternative to PBGC’s current paper-based filing process, My PAA enables practitioners to establish an account, electronically create and sign premium filings (Forms 1, 1-ES and 1-EZ, and Schedule A to Form 1) and electronically submit the filings and payments to PBGC.   The plan is the first of many steps that the PBGC said it planed to take to automate its transactions with practitioners. 

For more information about My PAA, access PBGC’s Web site,  www.pbgc.gov , and click on the “Online Premium Filing” link.   Questions can also be directed to the   PBGC’s Customer Service Center for Practitioners at (800) 736-2444.