Keeping Your Firm or Component Retirement Plan Manageable

The Department of Labor (DOL), Internal Revenue Service and the Pension Benefit Guaranty Corporation jointly developed the Form 5550 to satisfy annual reporting requirements on the financial condition, investments and operations of retirement plans.  If you have a retirement plan for your practice or component, you may not be aware of new requirements.

The 5500 Report must generally be filed by the last day of the seventh month following the end of the plan year, unless an extension has been granted. For calendar year plans, the deadline is normally July 31.  If you have a retirement plan for your practice or component, you may have already been involved with filing your Form 5500 for the 2008 Plan Year.  However you may not be aware that the DOL has mandated electronic filing of Form 5500 beginning with the 2009 Plan Year filing. This means that 2008 will be the last year you will be able to file your 5500 in paper format.

Beginning in January 2010, the DOL will open a Web site that will enable you to register as a 5500 filer and obtain the required user ID and password you must have in order to electronically file your 2009 Form 5500. Considering this upcoming change in filing and the current economic environment, it’s important to find out now if you will still be provided the same 5500 services at no additional cost and if your current retirement plan provider has the resources needed to accommodate the new process.

The AIA Members Retirement Program administered by AXA Equitable is currently working with the DOL on the development of the software necessary to provide this service. Members will be provided with an electronic file which can be filed directly with the DOL at no additional cost – making the transition to Form 5500 electronic filing as easy and smooth as possible.

The AIA Members Retirement Program is committed to keeping costs affordable, delivering a turnkey program with a diverse selection of investment options, and offering a wide range of services designed to minimize the amount of time and money spent managing the Program for your firm.  From set-up through administration, members and participants, including component staff, have access to dedicated professionals experienced in retirement planning to assist them every step of the way.  If you are interested in learning more, visit www.axa-equitable.com/mrp or call 1-800-523-1125 ext. 6654.

The Members Retirement Program is funded by a group variable annuity contract issued and distributed by AXA Equitable Life Insurance Company (NY, NY). AXA Equitable Life Insurance Company does not provide legal or tax advice. Please be advised that this document is not intended as legal or tax advice. Accordingly, any tax information provided in this document is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer. The tax information was written to support the promotion or marketing of the transaction(s) or matter(s) addressed and you should seek advice based on your particular circumstances from an independent tax advisor.

GE-49938 (6/09)