Pension Protection Act of
2006: Strengthening Traditional Pensions and More
The Pension
Protection
Act of 2006
(H.R. 4)
(Pension
Act) makes
some of the
most
wide-reaching
reforms to
the pension
system in
more than 30
years. It
includes
provisions
that
strengthen
funding
rules for
defined
benefit
pension
plans,
provide
funding
relief for
airlines,
provide
investment
advice to
plan
participants,
make
permanent
the
retirement
savings
incentives
enacted
under the
Economic
Growth and
Tax Relief
Reconciliation
Act of 2001,
strengthen
disclosure
rules for
plan
administrators,
allow direct
rollovers
from
retirement
plans to
Roth IRAs,
and allow
small
employers to
establish a
combined
defined
benefit/401(k)
Plan. The
Pension Act,
however,
does not
stop there.
It also adds
extensive
new rules
governing
specific
charitable
donations,
imposes
tighter
controls on
exempt
organizations,
and impacts
over a dozen
other major
tax
provisions.
For more
information
regarding
this act,
please
contact Rob
Just.
Green &
Seifter
Investment
Advisers
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