The Pension Protection Act (PPA) was signed into law on August 17, 2006. The intent of this law was to reform the pension laws to protect and strengthen pension plans.

In general, this law revised funding requirements for multiemployer defined benefit pension plans and established new reporting and disclosure requirements. It also made changes to defined contributions laws to remove barriers to allow for automatic enrollment and provide for faster vesting of employer contributions.

This law is fairly new and government agencies are still issuing guidelines and interpretations. ABPA is working closely with our clients to ensure that forms and notices are updated to comply with the reporting and disclosure requirements.