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FOR IMMEDIATE RELEASE
September 21, 2004
PBGC Public Affairs, 202-326-4040
PBGC Promotes Premium E-Filing
WASHINGTON—In anticipation of the upcoming peak filing season, the Pension Benefit Guaranty Corporation (PBGC) encourages premium filers to electronically file their premium filings and payments via My Plan Administration Account (My PAA) on PBGC’s Web site, www.pbgc.gov/mypaa.
“In response to practitioner requests, we have provided a premium e-filing alternative that has many advantages for premium filers. They can do it all – prepare, review, sign, pay and submit – using only the Internet and e-mail. Paper forms and checks are no longer required,” said Hazel Broadnax, PBGC’s chief financial officer. “We also look forward to receiving practitioner feedback about how PBGC can continue to improve the process.”
The secure Web-based application requires no special software, allows filings to be prepared by a variety of people (e.g., enrolled actuaries and plan administrators), and is available for plan years starting in 2004. All the premium forms (1-ES, 1-EZ, Form 1, Form 1 with Schedule A) can be e-filed, including amended filings. Those who use My PAA can track filings for all their plans on their own “home page;” follow easy filing steps with instant help to more accurately complete filings; pay by ACH, e-check or credit card; and receive instantaneous confirmation that PBGC received their premium filing and payment.
For more information about My PAA, access PBGC’s Web site, www.pbgc.gov, and click on the “Online Premium Filing” link. If you have questions, please call PBGC’s Customer Service Center for Practitioners toll-free at 1-800-736-2444, and select the premium option. For TTY/TDD users, call the Federal Relay Service toll-free at 1-800-877-8339 and ask to be connected to 1-800-736-2444. Plan sponsors and practitioners can also e-mail practitioner.pro@pbgc.gov.
The PBGC is a federal corporation created under the Employee Retirement Income Security Act (ERISA) of 1974. It currently guarantees payment of basic pension benefits earned by 44 million American workers and retirees participating in over 31,000 private-sector defined benefit pension plans. The agency receives no funds from general tax revenues. Operations are financed largely by insurance premiums paid by companies that sponsor pension plans and by investment returns.
