PBGC posts guidelines on making premium payments

On its website, the PBGC has posted guidelines to ensure that premium payments are quickly and accurately processed.

According to the PBGC, “[i]f you prefer to pay at the same time that you submit your e-filing via My PAA, you can securely enter your payment information (e.g., your account number and bank routing code) when you are offered the payment screen. This will enable PBGC to pull the payment from your designated account. If you prefer to pay separately from your filing, you can securely submit your payment electronically via www.Pay.gov without incurring any additional cost.”
“If you prefer to pay by other methods (e.g., check),” the PBGC adds, “be sure to enter the plan’s EIN/PN and Plan Year Commencement Date (PYC) on the payment.”
Source: PBGC website, October 8, 2014.

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