2008 Comprehensive Premium Payment Instructions
Comprehensive Premium Payment Instructions, including illustrative form [PDF] - As a result of the Pension Protection Act of 2006 (PPA 2006) and amendments to the premium regulations, the instructions have been completely rewritten. We encourage you to read this entire document. Here are the key items to note for 2008:
- Booklet format. The format of the instructions has changed substantially. (See the Table of Contents for an overview.) Note that contact information has been moved to Appendix 2.
- Mandatory e-filing. All plans must file electronically unless an exemption has been requested and received.
- Illustrative form. In order to prepare for filing electronically, a list of required data elements is included in a traditional "form" format (see page 20). This "form" is for illustrative purposes only; you may not submit your filing using a paper form unless you request and receive an exemption from eâ€‘filing. If an exemption is granted, an actual form will be provided.
- New comprehensive filing. The previous final filing forms (Form 1-EZ and Form 1/Schedule A) are being replaced by one new comprehensive filing. See "Data to be Submitted" section.
- Flat-rate premium increase. The inflation-adjusted per-participant flat-rate premium for 2008 is $33 for single-employer plans and $9 for multiemployer plans.
- Change in the filing due date structure. As a result of regulatory changes, the due date is either the same as it was under the 2007 rules or later. See "When to File" section.
- Changes in how the variable-rate premium is calculated and reported. See "How to Determine Unfunded Vested Benefits" and "Description of Data Elements" sections.