Save time with our cheat sheets, fact sheets, checklists & books!

April 30, 2009

WRERA-The Worker, Retiree, and Employer Recovery Act of 2008/H.R. 7327

Your Guide

Print

Definition

A bill that made technical corrections to the Pension Protection Act of 2006 (PPA 06) and provides for additional amendments to PPA-06, the Internal Revenue Code, ERISA , and the Age Discrimination in Employment Act of 1967 (“ADEA”).
The Worker, Retiree, and Employer Recovery Act of 2008 provisions include the following:
Referring Cite
Additional Helpful Information
Provisions were also included for defined benefit plans. These included:
  • Reform of the funding rules for Single-Employer Defined Benefit Pension Plans
  • Pension Benefit Guaranty Corporation (PBGC) Guarantee and Related Provisions
  • Increase in Pension Plan Diversification and Participation and Other Pension Provisions
  • Modification of interest rate assumption required with respect to certain small employer plans
  • Extension of the transitional rule for single-employer defined benefit pension plans, to plan year beginning after 2008 even if, for each preceding plan year after 2007, the plan’s shortfall amortization base was not zero.
More

Keep Learning

Domestic abuse distribution

A domestic abuse distribution is one that is made to domestic abuse victim, during the 1-year period beginning on any date on which the individual

Eligible retirement plan

The term “eligible retirement plan”, means a retirement plan to which a rollover contribution can be made. These are: (i)an individual retirement account described in

Qualified See-Through Trust beneficiary

Definition A qualified trust beneficiary is a trust that satisfies the requirements so as to be treated as a designated beneficiary.   For retirement accounts inherited

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

Be among the first to know when

IRA Rules
Change