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Pension Protection Act of 2006: Summary of the PBGC Guarantee and Related Provisions (CRS Report for Congress)

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Release Date Dec. 20, 2006
Report Number RS22513
Report Type Report
Authors Jennifer Andrea Staman and Erika Lunder, American Law Division
Source Agency Congressional Research Service
Summary:

Title IV of the Pension Protection Act of 2006 (P.L. 109-280; August 17, 2006) contains several provisions concerning premiums and benefit guarantees under the Pension Benefit Guaranty Corporation's (PBGC's) insurance program. The Title also contains special funding rules for commercial airlines and airline catering companies. Other provisions address issues such as rules for substantial owners, the appointment of the PBGC director, and missing participants. This report summarizes the Title's provisions. For additional information on the Pension Protection Act, see CRS Report RL33703, Summary of the Pension Protection Act of 2006, by Patrick Purcell.