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February 16, 2009

Pension Protection Act Of 2006 (PPA)



Legislation signed into law on August 17 2006, for which the primary goals was to protect and enhance the retirement savings and pension provisions. Changes enacted under PPA 06 include the following:

PPA 06 was primarily intended to increase the retirement security of defined benefit plan participants, by making it harder for plan sponsors to default on funding obligations.

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PPA 2006

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Saver’s Credit

Definition Also known as the Saver’s Tax Credit: Nonrefundable tax credit available to eligible individuals who make contributions to their retirement account. The saver’s credit

Catch-up Contribution

Definition An additional contribution that can be made to a retirement plan by a participant who is at least age-50 by the end of the

Salary Deferral Contribution

Definition A contribution made pursuant to a participant’s election to have a portion of his/her salary/wages  contributed to his/ her employer sponsored plan  rather than

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