The Pension Protection Act of 2006
The Pension Protection Act (PPA) of 2006 contains several provisions that affect retirement savings plans, including governmental plans. It made permanent the provisions in the Economic Growth and Tax Relief Reconciliation Act (EGTRRA) of 2001 and introduced several new provisions.
View the following resources to learn more about the rules that impact retirement plans that you sponsor.
Individual Provision Highlights
- Tax-free withdrawals of up to $3,000 annually for the purchase of qualified insurance premiums by eligible retired public safety officers.
- Non-spouse beneficiaries can rollover funds to an Inherited IRA.
- Emergency/Hardship withdrawals can be taken in certain circumstances related to a participant's beneficiary.
- Qualified reservist distributions (401(k) plans only)
- Direct transfers from employer-sponsored plans to a Roth IRA
- Federal tax refunds may be deposited directly to an IRA
- Tax-free charitable contributions for IRA account holders over age 70½
- Qualified Default Investment Alternatives (QDIA) - summary of DOL final regulations
Learn more about your ICMA-RC administered plans:
- View summary information for participants:
457 | 401(a) Money Purchase | 401(k)
- Contact Plan Sponsor Services at 800-326-7272.