PBGC Opens Record System Web Portal

January 9, 2004 (PLANSPONSOR.com) - Plan sponsors have a new online option for handling their business with the Pension Benefit Guaranty Corporation (PBGC).

>The PBGC has set up ” PBGC-14, My Plan Administration Account Authentication Records-PBGC,” a new system of records , according to a report by CCH.  Among the bells-and-whistles on the new record system, plan sponsors now have a Web-based portal to take care of such tasks as:

  • filing and paying premiums due the PBGC
  • checking premium account histories
  • making plan termination filings
  • making reportable event filings
  • contacting the PBGC with questions.

To open a My PAA online account, plan sponsors must register with the PBGC as a “filing coordinator.”   Then, for each plan for which the plan sponsors wants to act as filing coordinator, registration will require submission of the:

  • individual’s name
  • employer
  • contact information
  • pension plan name
  • employer identification number (EIN)
  • plan number
  • number of plan participants reported
  • amount of premiums paid in the plan’s most recent PBGC premium filing.

The new system of records will become effective on February 3, 2004, unless comments are received that would cause the PBGC to rethink its launch.  

Comments on the new system of records must be received before January 23, 2004 and addressed to: Office of the General Counsel, Pension Benefit Guaranty Corporation, 1200 K Street, NW., Washington, DC 20005-4026.   Or, comments can be submitted at  www.pbgc.gov/privacyact .