TITLE

Ask FERF About... The Pension Protection Act of 2006

AUTHOR(S)
de Mesa Graziano, Cheryl
PUB. DATE
October 2006
SOURCE
Financial Executive;Oct2006, Vol. 22 Issue 8, p64
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article focuses on the U.S. Pension Protection Act of 2006. It states that U.S. President George W. Bush declared the act the most sweeping reform of pension laws in the United States in over 30 years. It mentions that the law imposes minimum funding standards for defined-benefit plans for single employers, alterations to the measurement of pension plan obligations so they are based on a three-segmented yield curve, additional premiums that companies with under-funded plans will have to pay, higher upper limits on the amount of money employers can put in pension plans, and restrictions on under-funded plan extra benefits. It comments on concerns that the law might result in older employees being penalized as businesses move toward hybrid cash-balance plans due to their new benefits.
ACCESSION #
22528169

 

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