The Pension Protection Act Of 2006
The Law The Pension Protection Act of 2006 Summary and Bill Information Technical Explanation of H.R. 4 prepared by the Joint Committee on Taxation Technical Corrections Related to the Pension Protection Act of 2006 - H.R. 7327 Technical Explanation of H.R. 7327 prepared by the Joint Committee on Taxation Chart on PPA Provisions	On This Page The Law Regulations Other Guidance IRS Regulations & Guidance PBGC Regulations & Guidance

Regulations

• Investment Advice - Participants and Beneficiaries, Withdrawal of Final Rule

• Investment Advice - Participants and Beneficiaries, Final rule; delay of effective and applicability date

• Investment Advice - Participants and Beneficiaries, Final rule; delay of effective and applicability date

• Investment Advice - Participants and Beneficiaries, Final rule; delay of effective and applicability date

• Request For Comment On Final Rules And Proposed Extension Of Effective And Applicability Dates • Final Rules And Class Exemption For Investment Advice To Participants And Beneficiaries • Comments

• Civil Penalties Under ERISA Section 502(c)(4) Final Rule • FR Correction

• Investment Advice Participants and Beneficiaries; Hearing • Agenda

• Statutory Exemption for Cross-Trading of Securities

• Selection of Annuity Providers - Safe Harbor for Individual Account Plans

• Amendments to Interpretive Bulletin 95-1

• Amendments to Safe Harbor for Distributions From Terminated Individual Account Plans and Termination of Abandoned Individual Account Plans To Require Inherited Individual Retirement Plans for Missing Nonspouse Beneficiaries

• Adoption of Amendment to Prohibited Transaction Exemption 2006-06 for Services Provided in Connection with the Termination of Abandoned Individual Account Plans

• Proposed Rule on Investment Advice Exemption • Proposed Class Exemption • Report to Congress

• Qualified Default Investment Alternatives Guidance • Fact Sheet

• Model Notice of Multiemployer Plan in Critical Status • Model Notice • Critical and Endangered Status Notices

• Proposed Civil Penalty Regulation under ERISA Section 502(c)(4) • Comments

• Default Investment Alternatives Under Participant-Directed Plans • Fact Sheet

• Proposed Rule on Disclosure of Multiemployer Plan Information on Request • Comments

• Interim Final Rule to Interpretive Bulletin 95-1

• Proposed Rule on Selection of Annuity Providers for Individual Account Plans • Comments

• Civil Penalty Rules under ERISA Section 502(c)(7)

• Hearing on Computer Model Investment Advice Programs for IRAs • Agenda • Transcript

• Qualified Domestic Relations Orders Interim Final Rule • Comments

• Distributions for Missing Non-Spouse Beneficiaries • Class Exemption • Model Plan Termination Notice • Termination Notice for Abandoned Plans • Comments

• Statutory Exemption for Cross-Trading of Securities • Comments

• Supplemental Proposed 5500 Revisions • Schedule SB • Schedule MB • Schedule R • Public Comments

• RFI on Investment Advice to Participants in 401(k) Plans • Comments

• RFI on Investment Advice to Individual Retirement & Similar Plans • Comments

• Pending Election of Multi-employer Plan Status

• Model Notice MS Word • PDF Version

• Default Investment Alternatives • Fact Sheet • Peer Review • Comments

Other Guidance

• Field Assistance Bulletin 2009-1 - Interim guidance under section 101(f) of ERISA relating to defined benefit plan annual funding notice requirements pursuant to the Pension Protection act of 2006

• Single-employer Plans Model Notice

• Multiemployer Plans Model Notice

• Pension Plan Actuarial Information Search

• Field Assistance Bulletin 2008-3 - Guidance Regarding Qualified Default Investment Alternatives (29 CFR § 2550.404c-5)

• Field Assistance Bulletin 2007-3 - Periodic pension benefit statements for non-participant directed individual account plans

• Field Assistance Bulletin 2007-2 - Guidance on IRC 403(b) plans

• Field Assistance Bulletin 2007-01 - Guidance relating to the investment advice provisions of the PPA

• Field Assistance Bulletin 2006-03 - Interim guidance relating to individual benefit statements and notices of freedom to divest employer securities pursuant to the PPA

IRS Regulations And Other Guidance

The Internal Revenue Service has posted on its Web site a sample notice to aid plan sponsors in satisfying the requirements of the IRS's proposed regulations on new safe-harbor qualified automatic contribution arrangements (QACAs) and on eligible automatic contribution arrangements ( EACAs).  Use of this sample notice also satisfies the notice requirements under ERISA sections 404(c)(5) and 514(e)(3) and DOL’s final rule relating to Default Investment Alternatives Under Participant Directed Individual Account Plans.

• Pension Protection Act of 2006 (PL 109-280) including information on the PPA, newsletter articles, published guidance, and other information

• Sample Notice

• IRS Proposed Regulation

PBGC Regulations And Other Guidance

Multi-employer Plan Elections under Section 1106 of PPA: On June 15, 2007, PBGC published a Notice under the Paperwork Reduction Act informing the public that it is requesting that the Office of Management and Budget (OMB) approve procedures on multi-employer plan elections under section 1106 of the Pension Protection Act of 2006. Section 1106, which was modified by an amendment in the May 25, 2007, supplemental spending legislation (Pub L. 110-028), allows certain single-employer plans to elect to be multi-employer plans pursuant to procedures prescribed by PBGC. The procedures were revised to take into account the recent statutory changes and the four comments received in response to the PBGC's April 13, 2007, Paperwork Reduction Act Notice. To obtain a copy of the request for approval, including the revised procedures, you may fax a request to the Disclosure Division of the Office of the General Counsel at 202.326.4042 or call them at 202.326.4040. The Disclosure Division will e-mail, fax, or mail the procedures and other information to you, as you request. Comments to OMB on the draft procedures are due by July 16, 2007.

• Variable rate premium proposed rule - On May 31, 2007, PBGC published a proposed rule to amend PBGC's regulations on Premium Rates and Payment of Premiums. The amendments would implement provisions of the Pension Protection Act of 2006 that change the variable-rate premium for plan years beginning on or after January 1, 2008, and make other changes to the regulations. Public comments on the proposed rule are due by July 30

• Premium proposed rule - On February 20, 2007, PBGC published a proposed rule to amend PBGC's premium regulations to implement certain provisions of the Deficit Reduction Act of 2005 and the Pension Protection Act of 2006 that are effective beginning in 2006 or 2007. The provisions that would be implemented by this rule change the flat premium rate, cap the variable-rate premium for plans of certain small employers, and create a new "termination premium" that is payable in connection with certain distress and involuntary plan terminations. Public comments on the proposed rule are due by April 23

• Revisions to Technical Update 06-4 - On August 30, 2006, PBGC issued Technical Update 06-4, Use of Corporate Bond Rate for Certain PBGC Purposes, which explains how the provisions of the Pension Protection Act of 2006 (“PPA”) relating to PBGC’s required interest rate for determining variable-rate premiums apply to certain PBGC requirements (in particular, reporting and disclosure requirements) • The PBGC has revised this Technical Update: (1) to make some minor clarifying changes, and (2) to provide guidance on how the PBGC will apply Technical Update 96-7, Waiver for Small Employer Reporting of Missed Quarterly Contributions in light of PPA’s repeal of ERISA section 4011 (Notice to Participants) for plan years beginning after December 31, 2006

• Small Employer Variable-Rate Premium Cap - The Pension Protection Act of 2006 caps the variable-rate premium for certain plans maintained by small employers, effective for plan years beginning in 2007 and later. The cap applies to a plan if the aggregate number of employees of the contributing sponsors of the plan and all members of their controlled groups is 25 or fewer. For these plans, the variable-rate premium is capped at a per-participant rate of $5 multiplied by the number of plan participants. Thus, a qualifying small-employer plan would pay, at most, a total variable-rate premium calculated by multiplying the capped per-participant rate ($5 times the number of plan participants) by the number of plan participants, or $5 times the square of the participant count. For example, if the participant count is 20, the cap on the variable-rate premium is $2,000 [($5 x 20) x 20, or $5 x 202 = $2,000]