The following information on Premillennialism comes from my First Corinthians commentary which you can download chapter by chapter for free at this link:  http://bit.ly/jQqYIX  

The Premillennial view
Jesus is NOT now reigning
Jesus will BEGIN His reign at His return
Jesus will ESTABLISH a kingdom at His return
Saved people are NOT now in the kingdom.
Jesus will gather with His people ON THE EARTH

The Scriptures
Jesus IS now reigning (Mt. 6:33; Heb. 1:8)
Jesus will END His reign at His return (1 Cor. 15:28)
Jesus’ kingdom will TERMINATE at His return (1 Cor. 15:24)
Saved people ARE now in the kingdom (Col. 1:13; Rev. 1:9; Jn. 3:5)
Jesus will meet His people IN THE AIR and the earth will be destroyed (2 Pet. 3:10)