COLLECTED WISDOM™ on The Pension Protection Act of 2006
Here is a collection of articles, tables, commentary, rulings and other information on the Pension Protection Act of 2006.
Analysis Highlights Positive Impact of Pension Protection Act on 401k Plans and Their Participants - Summary: Fidelity Investments released an analysis of the far-reaching positive implications for workplace retirement plan design features (such as auto enrollment, default options and in-plan Roth deferrals) of the Pension Protection Act of 2006.
Source: 401khelpcenter.com, November 2011.
IRS Postpones Effective Date of Hybrid Plan Regulations and Extends PPA Amendment Adoption Deadline - Summary: On October 12, 2011, in Notice 2011-85, the IRS postpones the effective date for final hybrid plan regulations, extends the deadline set in PPA for adopting interim and discretionary hybrid plan amendments, and formalizes the 204(h) notice special timing rule in IRS Announcement 2009-82.
Source: Buck Consultants 
, October 2011.
DOL Releases Final PPA Participant Advice Regulation - Summary: This final regulation brings to a conclusion an almost five-year process to implement the PPA exemptions permitting "level fee" and "computer model" advice for retirement plan participants and IRA beneficiaries. In broad scope, the final regulation retains the general structure and terms of the Obama Administration's March 2, 2010 proposal, with several refinements and clarifications. The regulation is effective as of December 27, 2011.
Source: Sutherland Asbill & Brennan LLP , October 2011.
IRS Issues Final Regulations on PPA Diversification Requirements - Summary: The IRS has released final regulations on the diversification requirements added by the Pension Protection Act of 2006 (PPA) for defined contribution plans holding publicly traded employer securities. The regulations apply for plan years beginning on or after January 1, 2011, but may be relied on immediately.
Source: Buck Consultants , June 2010.
PPA Makes Additional Changes to DC Plan Rules for 2008 and Beyond - Summary: This is a detailed overview of specific aspects of the 2006 pension reform legislation (PPA) affecting defined contribution plans that are effective in 2008 and beyond.
Source: Prudential Retirement , July 2007.
New Developments Regarding 'Investment Advice Arrangements' under PPA - Summary: As plan fiduciaries become acquainted with the new EIAA rules, it seems likely that more plans will elect to take advantage of such an arrangement, particularly since the cost of the arrangement may be paid from plan assets. As is generally the case with any decision subject to the standards of ERISA, however, care should be taken.
Source: Trucker Huss, May 2007.
Overview of the PPA - Summary: New rules for retirement plans, new plan design options, new plan requirements, and new fiduciary protection.
Source: Hay Group , November 2006.
PPA Signals a New Era for the Private Pension System - Summary: In August, with the signature of President Bush, the Pension Protection Act of 2006 (PPA) quietly became the most comprehensive pension reform package since ERISA was passed in 1974. Its significance cannot be overstated!
Source: 401khelpcenter.com, November 2006.
Key Provisions of the Pension Protection Act of 2006 - Summary: On August 3, 2006, the Senate passed HR 4, the Pension Protection Act of 2006, by a vote of 93 to 5. Sal L. Tripodi, for ASPPA, has authored this detailed summary of the preliminary review of the 907-page bill.
Source: ASPPA, August 2006.
Securing Retirement: An Overview of the Pension Protection Act of 2006 - Summary: To assist you in understanding and managing the provisions of the new legislation, Deloitte has produced "Securing Retirement: An Overview of the Pension Protection Act of 2006," a concise guide to navigating the Act's significant pension issues.
Source: Deloitte, August 2006.
Some Lessor Provisions of the PPA - Summary: The media reporting around the defined contribution provisions in the Pension Protection Act of 2006 has focused on just a few key issues: advice, automatic enrollment and EGTRRA permanence. But there are over 30 other provisions. Here are a few highlights on other sections of the bill.
Source: 401khelpcenter.com, August 2006.
COMMENTARY: A Finance Professor's View on the PPA 2006 - Summary: "The bill does not address either of the two issues that I regard as crucial to fixing what is wrong with the U.S. private pension system today. The first of these relates to the traditional defined benefit pension system and the federal government agency that insures it: the PBGC. The second relates to the emerging new pension system that is built around 401k, 403b, IRAs and other self-directed investment accounts."
Source: Benefitslink.com, August 2006.
Amendments to the Definition of Plan Assets - Summary: Section 611(f) of the Pension Protection Act of 2006 adds a definition of "plan assets" to ERISA, and as a result, significantly decreases the likelihood that an investment fund would be deemed to be holding "plan assets."
Source: White & Case LLP, August 2006.
PPA Sets New Prohibited Transaction Rules and ERISA Fidelity Bond Requirements - Summary: This Alert focuses on changes to the prohibited transaction restrictions of ERISA and the Internal Revenue Code of 1986 that affect investment advisers, broker-dealers, and others that provide financial services to plans (either directly or indirectly through entities whose assets are considered to include "plan assets" for ERISA purposes). This Alert also discusses changes to ERISA's fidelity bond requirements.
Source: Kirkpatrick & Lockhart Nicholson Graham LLP , August 2006.
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