Sweeping Pension Legislation Becomes Law

Today, President George W. Bush signed into law H.R. 4, which will be known as the Pension Protection Act of 2006. The Act – which exceeds 900 pages in length – embodies a long list of benefits-related amendments to the Internal Revenue Code and ERISA. Among other things, the Act will result in broad-ranging and significant changes in the funding requirements for defined benefit pension plans, impose potentially heavy new financial obligations on employers participating in multiemployer pension plans, and change important aspects of plan administration for many 401(k) and other defined contribution plans.

Recognizing the significance of the Pension Protection Act of 2006, Ogletree Deakins will sponsor a complimentary audio conference on the subject on Thursday, August 24 and Monday, August 28. The same broadcast will be featured on each date. The panel discussion is scheduled for one hour and the panelists will be available for questions for an additional 30 minutes after the program. 
 
The audio conference will focus on the Act’s most significant provisions, including topics such as:

• New Diversification Rules for Public Company Plans
• Liberalization of Restrictions on Investment Education for Participants
• Safe Harbor for “Negative Election” 401(k) Plans
• New Pension Funding Rules
• Additional Required Contributions to Multiemployer Plans
• Enhanced Exposure to Withdrawal Liability/”Outsourcing Liability”
• “Legalization” of Cash Balance Plans

Additional Information

For questions, contact Ogletree Deakins Client Services at 1-866-287-2576.

Note: This article was published in the August 17, 2006 issue of the National eAuthority.