The fiduciary adviser may be affiliated with the investment funds offered in a 401(k) plan but would have to meet disclosure, qualification, and other self-dealing safeguards. The Pension Protection Act of 2006 (PPA) includes a number of provisions applicable to public pension plans. Accordingly, plan sponsors are allowed the alternative option of electing to reduce or waive the funding standard carryover and the prefunding credit balance so as to prevent the reduction of plan assets. Purcell, Patrick. Seeking to avert a meltdown and taxpayer bailout of traditional private pension plans, Congress has passed a comprehensive pension reform bill. L. 109-280) that change the variable-rate premium for plan years beginning on or after January 1, 2008, and make other changes to the regulations. This treatment applies to traditional and Roth IRAs. Vol. Specifically, the Act, while retaining the blended rate of corporate bonds, introduces a segmented "yield curve" that would consist of three different interest rates (based on the unweighted average of interest rates on investment grade corporate bonds) applicable to benefits payable in different time periods. The PPA also included numerous provisions that affect charitable giving. The Act radically changes the actuarial assumptions and methods used to determine present value, authorizing a new interest rate and a new mortality table. A notice of the right to diversify out of employer securities (see "Diversification requirements for DC plans" above) must be provided by the plan administrator to an applicable individual not later than 30 days before the first day that the individual is eligible to divest. This Index is organized in alphabetical order by key words or phrases. PBGC Pension Benefit Guaranty Corporation . The statute enacted numerous changes to the tax law provisions affecting tax-exempt organizations. Found insideOn August 17, 2006, President George W. Bush signed the Pension Protection Act of 2006.1 The PPA is the most sweeping ... Some of the key provisions are noted below: - Requires companies that under-fund their pension plans to pay ... Hybrid/Cash Balance Plan Provisions Included in the Pension Protection Act The Act includes a number of provisions intended to clarify the Teamsters International Brotherhood of Teamsters union members . Found inside – Page 6-146.09 PENSION PROTECTION ACT OF 2006 The Pension Protection Act of 2006 (P.L. 109-280) continued use of the Corporate Bond ... The key point is that the Pension Protection Act ended the use of the 30-year T bond rate for the purpose of ... As an enhancement to the Saver's Credit, the new law provides that the adjusted gross income amounts used to figure the amount of the credit will be adjusted for inflation starting in 2007. October 23, 2006; The final provisions are complex, representing the first comprehensive pension legislation in more than 30 years. Descriptive information to help identify this report. Unique identifying numbers for this report in the Digital Library or other systems. For plan years beginning after 2009, small employers (those with 500 or fewer employees) are permitted to establish a combined defined benefit�401(k) (DB/K) plan. These rules apply equally to 403(b) plans. UNT Libraries.
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