Alerts

President Signs Pension Protection Act into Law

August 21, 2006

On Thursday, August 17, the President signed into law the Pension Protection Act of 2006. As indicated in our prior Client Alert, the Act narrows the defined term "Benefit Plan Investor" so that it no longer includes U.S. state and local government retirement plans and foreign retirement plans. Only ERISA-covered pension plans, U.S. individual retirement arrangements and certain fund of funds will now be considered Benefit Plan Investors.