Retirement Protection Act of 1994

(redirected from Retirement Protection Act)

Retirement Protection Act of 1994

Legislation designed to protect the pension benefits of workers and retirees by increasing required support of pension plans by employers.

Retirement Protection Act of 1994

Legislation in the United States designed to protect pensions for retirees and strengthen a government-administered program insuring them. Among its provisions, the Act required pension plans deemed to be underfunded to obtain enough cash and securities to cover benefits they were required to make. It increased the premiums for pensions insured by the Pension Benefit Guaranty Corporation that were in danger of default.
References in periodicals archive ?
He also oversaw the enactment of the Retirement Protection Act and the Family and Medical Leave Act.
In the meantime, NEA is backing the Public Servant Retirement Protection Act (PSRPA) that would change the formula by which the WEP is calculated and result in increased payments for many NEA members affected by the WEP.
The values below have been rounded down, where applicable, as required by the Retirement Protection Act.
The elective deferral limit (section 402[g][1]) created by the Retirement Protection Act of 1994 is $9,500(*), down from $45,475 in 1982.
PBGC Executive Director Martin Slate noted the Retirement Protection Act of 1994 contains provisions designed to improve funding gradually over a 10- to 15-year period.
Section 772(a) of the Retirement Protection Act of 1994(1) added section 4010 to ERISA.
The GATT financing legislation adopted the Retirement Protection Act of 1994 (RPA), which included rounding rules for various pension cost-of-living adjustments, eliminated the quarterly contributions requirement for fully funded single-employer defined benefit plans, extended through 2000 Sec.
The 1994 Retirement Protection Act removed the old $53 variable-rate premium cap for plan years starting between January l and June 30, 1996.
The Clinton Administration released proposed legislation, entitled the Retirement Protection Act of 1993 (the "Act"), intended to strengthen the Pension Benefit Guaranty Corporation (the "PBGC") and encourage employers to more fully fund their qualified retirement plans.
Harvey Coustan, chairman of the AICPA tax executive committee, told the House Ways and Means Committee that while the Retirement Protection Act of 1993 (HR 3396) "addresses some of the issues protecting plan funding, additional important steps can and should be taken to ensure the necessary funds are put aside by plan sponsors to pay the benefits promised to American workers.
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