Years of negotiations, lobbying efforts, and political posturing have finally culminated in comprehensive pension reform, as the House of Representatives and the Senate passed H.R. 4, the “Pension Protection Act of 2006”, on July 28th and August 3rd, respectively. The President is expected to sign the bill into law on August 17th. We attach detailed summary comparisons of current law and the principal provisions of H.R. 4, the Pension Protection Act Û in separate packages focusing on defined benefit and defined contribution plans. We also attach a separate side-by-side that focuses on the many ERISA fiduciary changes in the legislation.
We are currently forming various coalitions for identifying and drafting technical corrections to the bill. We also have identified a number of regulation projects that the Treasury Department and the Department of Labor have been directed to undertake and intend to work closely with these agencies to not only assist them in their drafting efforts, but to craft the new rules in ways that are most favorable.
Pension Protection Act of 2006 side-by-side summary
Pension Protection Act of 2006 side-by-side- current law and single-employer pension reform
Pension Protection Act of 2006 side-by-side- current law and DC IRA and governmental plan reforms
Pension Protection Act of 2006 side-by-side- Fiduciary and PTE reform
Pension Protection Act of 2006 Multiemployer Pension Funding Reforms
Pension Protection Act of 2006 side-by-side- current law and Governmental and Public Sector Employer Plan changes