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PBGC Annual Premium Payment Letters - peeve


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Not sure if others have run across this recently, but have had a couple clients receiving letters acknowledging that the Comprehensive Premium Filing has been transmitted, but that their records indicate that a premium balance is owed.  In most recent case, we uploaded XML file 5/31/2018 and sent in paper check with voucher on the same date.  Letter is dated 6/10/2018, but when I look on Account History premium has been credited (with 5/31/2018 date, so can't actually tell when posted).  Have to waste time dealing with client's obvious concern that premium hasn't been received, when the PBGC system shows is all settled.  I can see sending this letter out if a month has transpired, but 10 days seems to be generating needless worry.

 

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I agree with the peeve. Am also peeved when they send out similarly unnecessary letters relating to plan terminations (for example, a letter saying the Form 501 hasn't been received yet, even though it is well before the non-penalty due date; sometimes it takes a while to get the necessary distribution confirmations to send the Form 501, which is why it's not done yet; it's not a big deal, except that it causes the client some concern that needs to be dealt with).

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  • 4 weeks later...
On 6/20/2018 at 9:50 AM, mwyatt said:

Not sure if others have run across this recently, but have had a couple clients receiving letters acknowledging that the Comprehensive Premium Filing has been transmitted, but that their records indicate that a premium balance is owed.  In most recent case, we uploaded XML file 5/31/2018 and sent in paper check with voucher on the same date.  Letter is dated 6/10/2018, but when I look on Account History premium has been credited (with 5/31/2018 date, so can't actually tell when posted).  Have to waste time dealing with client's obvious concern that premium hasn't been received, when the PBGC system shows is all settled.  I can see sending this letter out if a month has transpired, but 10 days seems to be generating needless worry.

 

Still annoyed with these letters. Felt compelled to come here and reiterate it.

This would be like the DOL sending out letters in mid-April telling plan sponsors that they still need to file their 5500. What a waste of time, energy, and paper!

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