What is the PBGC Comprehensive Premium Filing?
All defined benefit plans that are covered by the Pension Benefit Guaranty Corporation (PBGC) are required to pay a premium each year in exchange for the coverage. The PBGC Comprehensive Premium Filing form determines the amount of this premium based upon the plan’s statistical data (participant count, funding level, etc.).
Who is responsible for filing the PBGC Comprehensive Premium Filing?
Pinnacle Plan Design, as the plan’s third-party administrator, will prepare the PBGC Comprehensive Premium Filing. After approval from the plan sponsor, Pinnacle will submit the form to the PBGC on behalf of the plan sponsor.
When is the PBGC Comprehensive Premium Filing due?
The due date varies based upon many factors, including but not limited to:
- The number of plan participants,
- The recency of the plan’s PBGC coverage, or
- A change in the plan year.
Your pension professional at Pinnacle Plan Design will determine your specific due date and ensure that your PBGC Comprehensive Premium Filing is submitted in a timely fashion.
Pinnacle Plan Design is a third-party administrator (TPA) for employer-sponsored qualified retirement plans. We specialize in retirement plan design, administration and actuarial consulting for 401(k)/profit-sharing plans, defined benefit plans, cash balance plans, and 403(b) plans. Pinnacle Plan Design proudly serves businesses nationwide.