Pension Protection Act of 2006

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Pension Protection Act of 2006

Legislation in the United States requiring companies to pay higher premiums to the Pension Benefit Guaranty Corporation (which insures pensions) if those companies' pensions are underfunded. It also provides greater tax benefits for companies that invest in their own pensions.
References in periodicals archive ?
"For example, automatic enrollment had been around for a long time, but didn't take off until the Pension Protection Act of 2006 [PPA].
If passed, it would be the biggest change to the plans since 2006, when Congress approved the Pension Protection Act.
During the signing ceremony for the Pension Protection Act of 2006, aka the PPA, much of the president’s speech focused on aspects of the law that had to do with ensuring employers better addressed their underfunded defined benefit (DB) pensions.
This means that the majority of plans are neither in critical nor endangered status, as defined by the Pension Protection Act of 2006.
The Pension Protection Act of 2006 further fueled the trend away from defined benefits toward defined-contribution plans.
Vanguard has released a special 15th anniversary edition of its How America Saves report with findings that reflect the impact of the Pension Protection Act of 2006 (PPA) law on improving plan construction and participant investing behaviors in defined contribution (DC) plans, the company said.
The bipartisan legislation, backed unanimously by both houses of Congress, secures permanent relief for multiple-employer retirement plans like NTCA's Retirement & Security (R & S) Program from certain funding requirements of the Pension Protection Act of 2006.
The fact that the more stringent funding requirements in the Pension Protection Act of 2006 (PPA) also came into effect in 2008 was bad news to employers during the Great Recession.
Several big changes have taken place recently in the LTC marketplace, including the passage of the Pension Protection Act, the rise of new approaches to funding long-term care and recent clarification from the Internal Revenue Service.
To address the problem, he said, Congress should amend the 2006 Pension Protection Act to double to 6 percent the default rate for automatic contributions employees make to retirement savings plans.
New York, NY, November 01, 2012 --(PR.com)-- Provisions of the Pension Protection Act which took effect in 2010 enable individuals to take advantage of a new means for tax-favored long term care insurance payments according to a report published today.