0
An act approved by Congress during 2006, but effective for US Pension Plans and their associated benefit payments starting as of January 1, 2008. There are many aspects to this Act that need to be opined upon by the Internal Revenue Service before any employers or employees can make any compliance or benefit distribution decisions including minimum lump sum provisions for employees leaving their employer to retiree or (possibly under the terms of the plan document) go to another employer where their pension plan allows a rollover lump sum. Also to be determined is the minimum funding provisions for employers. The IRS is to expected to issue guidance during 2007 and 2008, and as of July 11, 2007, has not committed to a schedule for releasing specific pieces of guidance about how to calculate lump sumps or as to are what the appropriate funding targets. More to Come
Wiki User
∙ 16y ago
The Pension Protection Act (PPA) is a federal law enacted in 2006 that aims to protect the retirement benefits of employees and ensure the financial stability of pension plans. It includes provisions related to funding requirements, disclosure and reporting requirements, and tax incentives for retirement savings. The PPA also introduced reforms to defined contribution plans, such as automatic enrollment and the availability of target-date funds.
Add your answer:
Earn +20 pts
What is old age pension act?
The Old Age Pension Act is a government program that provides financial assistance to elderly individuals who have reached a certain age and meet specific eligibility criteria. The purpose of the act is to ensure that seniors have a source of income to support themselves in their later years.
When was the old age pension introduced?
The old-age pension was introduced in the United Kingdom in 1908 under the Old Age Pensions Act. It provided financial assistance to people over the age of 70 who had low incomes.
How can I find out if I have a pension after 17 years with Zodys?
To find out if you have a pension after 17 years with Zodys, you should contact the human resources department or pension administrator at Zodys. They can provide you with information about your pension eligibility, benefits, and how to claim your pension.
Who do you contact about your british leyland pension?
For inquiries about your British Leyland pension, you should contact the pension administrator or the pension department of the company. They will be able to provide you with information about your pension benefits, payments, and any other related queries you may have.
Do you have to be married to collect retirement pension?
No, you do not have to be married to collect a retirement pension. Pension benefits are typically based on an individual's employment history and contributions to a pension plan, not marital status.
Who has the authority to define a year of service for pension protection purposes?
who has the authority to define a year of service for pension protection purpose
Where was the Pension Protection Fund founded?
The Pension Protection Fund was founded in the United Kingdom. A Board is designated to manage the fund and make payments to members. The Board is established as a statutory corporation.
What is women protection act?
There is no women protection act.
Can a creditor seize your veteran pension direct deposit?
NO.They will tell you they can,it's just a scare tactic.The local Judges are not aware of the Federal Law Veterans Disability Protection Act of 2010.
When did Flag Protection Act happen?
Flag Protection Act happened in 1968.
What does the consumer protection act 1986 provide?
The consumer protection act 1986 provide better protection to consumers.
What insurance companies offer long term care annuities?
Forethought Financial Group will soon offer ForeCare which is an annuity with a LTC rider with all the benefits available under the Pension Protection Act of 2006.
When was the pension introduced?
Old Age Pensions Act in england, 1908
How does a pension act as an investor?
the company invests money collected from employers
Do ex-presidents wives get a government pension?
If their husband is killed in office, Congress usually gives them a pension .
When was Canada Pension Plan created?
Legislation providing for the Canada Pension Plan (CPP) was enacted in the spring of 1965, and the CPP came into being in January, 1966.
Do California residents pay state taxes on retirement pension under Railroad Retirement Act?
Do California residents pay state income taxes on their Rairoad Retirement pension under the Railroad Retirement Act?
