From the Drafting Table

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Welcome to Benefit Payments, J.P. Morgan’s newsletter designed to keep our Plan Sponsors, Administrators and Recordkeepers informed of industry, tax and legislative updates.

In the Service Spotlight section of this edition of Benefit Payments we provide details on how J.P. Morgan is safeguarding your Plan and plan participant information. Data security is a core business concern. J.P. Morgan is committed to meeting our obligations under data privacy laws and regulations in each of the jurisdictions in which we do business.

Our Regulatory Review section highlights the new SSAE16 audit report and changes that The State of Michigan Department of Treasury has made to their tax withholding requirements.

Our Technology Topics section announces our recent upgrades to our Plan Sponsor benefit payment system, InfoWeb, and our ability to combine multiple payments from different plans into one payment to the Plan participant.

Let’s not forget about J.P. Morgan’s plan participant web self service tool, My Benefit PaymentSM. My Benefit Payment enables Plan participants to inquire, view and/or update address, payment method, tax withholding and tax form images. Allow J.P. Morgan to handle your plan participant inquires and create capacity within your offices.

We encourage your feedback and suggestions on Benefit Payments and look forward to the opportunity to continue to serve you.

Ellen Stiene

Executive Director
J.P. Morgan Worldwide Securities Services
Benefit Payments’ Product Management

This just in!
First class USPS rates will increase one penny to $0.45 per mail piece as of January 22, 2012.

And in the works…
Alternative payment options to provide flexibility to Plan Sponsors and provide retirees another option to traditional check and ACH delivery of pension payments are underway. Please watch for more announcements in 2012.

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