Pension Protection Act Creates New Opportunities For Employers
November 9, 2006, 12:00 AM EST
Law360, New York (November 9, 2006, 12:00 AM EST) -- On August 17, 2006, President Bush signed The Pension Protection Act (P.L. 109-280), a comprehensive pension reform law. The Act was spurred by the recent wave of failing pension plans due to deterioration of funding, and in some instances, termination of plans where a plan sponsor was unable to meet its funding obligation.
The Act, which became effective on August 18, 2006, amends the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code (IRC).
* Automatic Enrollment in 401(k) and 403(b) Plans *...