Pension Protection Act key links

Pension Protection Act of 2006: Links to key sections

On Aug. 17, President George W. Bush signed the Pension Protection Act of 2006, enacting legislation Congress approved earlier in the month. Click on the image at the right to view the entire document, as approved by Congress. The links below will direct you to key sections of the landmark pension legislation.

Click here to go back to the Pension Protection Act main page.

Stories from the Aug. 21, 2006 issue of P&I:

Pension reform loosens the reins on transactions

401(k) response to be automatic

Pension Protection Act of 2006:

Full document, as passed by Congress

Reform of funding rules for single-employer DB plans:

Minimum funding standards (Section 101 at middle of page)

Minimum funding standards (Section 111 at middle of page)

Funding rules for single-employer DB plans (Section 102 at middle of page)

Funding rules for single-employer DB plans (Section 112)

Funding rules for multiemployer DB plans:

Funding rules for multiemployer DB plans (Section 201 at bottom of page)

Funding rules for multiemployer DB plans (Section 211)

Additional funding rules for multiemployer plans in endangered or critical status (Section 202 at bottom of page)

Additional funding rules for multiemployer plans in endangered or critical status (Section 212)

Measures to forestall insolvency of multiemployer plans (Section 203)

Measures to forestall insolvency of multiemployer plans (Section 213 at bottom of page)

Exemption from excise taxes for certain multiemployer pension plans (Section 214)

Investment advice, prohibited transactions and fiduciary rules:

Prohibited transaction exemption for provision of investment advice (Section 601 at bottom of page)

Prohibited transaction rules relating to financial investments (Section 611)

Correction period for certain transactions involving securities and commodities (Section 612 at bottom of page)

Inapplicability of relief from fiduciary liability during suspension of ability of participant or

    beneficiary to direct investments (Section 621)

Increase in maximum bond amount (Section 622 at middle of page)

Increase in penalties for coercive interference with exercise of ERISA

rights (Section 623 at bottom of page)

Treatment of investment of assets by plan where participant fails to exercise investment election (Section 624)

Clarification of fiduciary rules (Section 625 at bottom of page)

Interest rate assumptions:

Extension of replacement of 30-year Treasury rates (Section 301 at middle of page)

Interest rate assumption for determination of lump sum distributions (Section 302)

Interest rate assumption for applying benefit limitations to lump sum distributions

    (Section 303 at bottom of page)

PBGC guarantee and related provisions:

PBGC premiums (Section 401)

Special funding rules for certain plans maintained by commercial airlines

    (Section 402 at bottom of page)

Limitation on PBGC guarantee of shutdown and other benefits (Section 403)

Rules relating to bankruptcy of employer (Section 404 at middle of page)

PBGC premiums for small plans (Section 405 at bottom of page)

Authorization for PBGC to pay interest on premium overpayment refunds

    (Section 406 at middle of page)

Director of the PBGC (Section 411)

Inclusion of information in the PBGC annual report (Section 412)

Disclosure:

Defined benefit plan funding notice (Section 501 at bottom of page)

Access to multiemployer pension plan information (Section 502 at bottom of page)

Additional annual reporting requirements (Section 503)

Section 4010 filings with the PBGC (Section 505)

Disclosure of termination information to plan participants (Section 506 at bottom of page)

Notice of freedom to divest employer securities (Section 507 at bottom of page)

Periodic pension benefit statements (Section 508 at middle of page)

Notice to participants or beneficiaries of blackout periods (Section 509)

Benefit accrual standards:

Benefit accrual standards (Section 701)

Regulations relating to mergers and acquisitions (Section 702 at bottom of page)

Pension-related revenue provisions:

Increase in deduction limit for single-employer plans (Section 801 at bottom of page)

Deduction limits for multiemployer plans (Section 802 at bottom of page)

Updating deduction rules for combination of plans (Section 803)

Pensions and individual retirement arrangement provisions of Economic

Growth and

    Tax Relief Reconciliation Act of 2001 made permanent (Section 811 at bottom of page)

Increase in pension plan diversification and participation and other pension provisions:

Defined contribution plans required to provide employees with freedom to invest their plan assets (Section 901)

Increasing participation through automatic contribution arrangements (Section 902 at bottom of page)

Treatment of eligible combined defined benefit plans and qualified cash

or deferred arrangements (Section 903)

Faster vesting of employer nonelective contributions (Section 904 at middle of page)

Distributions during working retiremen (Section 905 at bottom of page)

Treatment of certain pension plans of Indian tribal governments (Section 906)

Administrative provisions:

Employee plans compliance resolution system (Section 1101 at middle of page)

Notice and consent period regarding distributions (Section 1102)

Reporting simplification (Section 1103)

Voluntary early retirement incentive and employment retention plans

maintained by local educational

    agencies and other entities (Section 1104)

No reduction in unemployment compensation as a result of pension rollovers (Section 1105 at middle of page)

Revocation of election relating to treatment as multiemployer plan (Section 1106 at bottom of page)

Provisions relating to plan amendment (Section 1107)

Provisions relating to exempt organizations:

Tax-free distributions from individual retirement plans for charitable purposes (Section 1201 at bottom of page)

Extension of modification of charitable deduction for contributions of food inventory (Section 1202 at middle of page)

Basis adjustment to stock of S corporation contributing property (Section 1203 at middle of page)

Extension of modification of charitable deduction for contributions of book inventory (Section 1204 at bottom of page)

Modification of tax treatment of certain payments to controlling exempt organizations (Section 1205 at bottom of page)

Encouragement of contributions of capital gain real property made for conservation purposes (Section 1206)

Excise taxes exemption for blood collector organizations (Section 1207)

Other provisions:

Technical corrections relating to mine safety (Section 1301 at middle of page)

Going-to-the-sun road (Section 1302)

Exception to the local furnishing requirement of the tax-exempt bond rules (Section 1303 at middle of page)

Qualified tuition programs (Section 1304 at bottom of page)

Provisions relating to spousal pension protection:

Regulations on time and order of issuance of domestic relations orders (Section 1001 at bottom of page)

Entitlement of divorced spouses to railroad retirement annuities independent of actual

    entitlement of employee (Section 1002)

Extension of tier II railroad retirement benefits to surviving former spouses pursuant to divorce agreements

    (Section 1003 at middle of page)

Requirement for additional survivor annuity option (Section 1004 at bottom of page)

Tariff provisions:

Short title; table of contents (Section 1401)

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