Pension Protection Act of 2006 Passed by Senate

H.R. 4, the Pension Protection Act of 2006, passed the Senate last night in the same form as it had been adopted by the House last week. The bill will now go to President Bush for signature. The bill contains a number of provisions which will significantly impact governmental plans including, for example, provisions on the purchase of service credit, after-tax rollovers to defined benefit plans and minimum distribution requirements. We will provide you with a complete analysis of the provisions affecting governmental plans as soon as possible. In the meantime, you may find the following resources helpful in order to learn more:

H.R. 4, Pension Protection Act - full text version
http://thomas.loc.gov/  Please type H.R. 4 into the Search Bill Text box for the information.

Joint Committee on Taxation Technical Explanation
http://www.house.gov/jct/x-38-06.pdf

House Committee on Education & the Workforce Bill Summary
http://edworkforce.house.gov/issues/109th/workforce/pension/pensionbillsum72806.htm

If you have any questions regarding this legislation, please contact Mary Beth Braitman, Terry A.M. Mumford, Lisa Erb Harrison, or Katrina M. Clingerman.