What is My PAA? My Plan Administration Account (My PAA) is a secure Web-based application available through the Pension Benefit Guaranty Corporation's Web site (www.pbgc.gov). This application enables pension plan practitioners to electronically submit their premium filings and payments to PBGC, in accordance with PBGC's regulations which require that:
- Large plans (those with 500 or more participants for the prior year) e-file starting July 1, 2006, for plan years beginning on or after 1/1/2006.
- All plans e-file for plan years beginning on or after 1/1/2007.
PBGC's mandatory e-filing requirements apply to estimated and comprehensive/final filings, including both original and amended filings.
What are the advantages of e-filing through My PAA? Using My PAA to electronically submit your premium filings:
- Streamlines the premium filing process for users.
- Helps users prepare and PBGC process premium filings faster and more accurately.
- Provides immediate confirmation of date and time that PBGC received your filing
- Helps PBGC provide more accurate and timely invoices.
- Speeds up refund processing.
- Offers filing options that enable filers to view premium data submitted.
- Enables on-line access to plan premium filing account histories.
How does My PAA work? My PAA offers three electronic filing options to meet the varying business requirements of premium filers:
- Filing Option 1: Prepare Premium Filing via My PAA's Data Entry and Editing Screens
Use the My PAA data entry and editing screens to create and submit premium filings (for plan years 2004 and later). My PAA includes a step-by-step process for entering a plan's filing data. This process creates a filing that can be electronically edited, routed, signed, paid and submitted to PBGC. Note that each My PAA reviewer and signer needs his/her own My PAA user ID and password.
- Filing Option 2: Import Premium Filing(s) Created in Private-Sector Software Into My PAA's Data Entry and Editing Screens
Use My PAA to import premium filings created with private-sector software that has been updated to meet PBGC's requirements (for plan years 2006 and later). Filers may "import" one or more premium filings created with private-sector software if the computer file that contains the filings meets PBGC's XML file standards. The imported filing data is transferred into My PAA's data entry and editing screens for editing, routing, signing, payment and submission to PBGC. Note that each My PAA reviewer and signer needs his/her own user ID and password.
- Filing Option 3: Upload Premium Filing(s) Created in Private-Sector Software
Use My PAA to upload premium filings created with private-sector software that has been updated to meet PBGC's requirements (for plan years 2005 and later). Filers may "upload" one or more premium filings created with private-sector software if the computer file that contains the filings meets PBGC's XML file standards. The uploaded filings are immediately transferred to PBGC's premium system for processing and posting to the appropriate plan accounts. Note that only the person who uploads the file needs a user ID and password.
What are my Payment Options? All single e-filings may be paid online using My PAA (via ACH or Internet check) or paid outside of the My PAA application (paper check or electronic transfer via ACH or Fed wire). If a batch of filings is uploaded, payment must be made outside of My PAA for each filing.
Where Can I Get More Information About My PAA? For detailed information or to set up a My PAA account, go to PBGC's Web site and click on the link "Online Premium Filing (My PAA)" on the Practitioners page. Our Web site describes how to get started, demonstrates the filing methods, and offers answers to frequently asked questions. If you have additional questions about My PAA, please send an e-mail to firstname.lastname@example.org or call our toll-free practitioner number, 1-800-736-2444, and select the "premium" option. TTY/ASCII users may call the Federal Relay Service toll-free at 1-800-877-8339 and ask to be connected to PBGC's toll-free number.