Menu Search Account

LegiStorm

Get LegiStorm App Visit Product Demo Website
» Get LegiStorm App
» Get LegiStorm Pro Free Demo

Lump-Sum Distributions Under the Pension Protection Act (CRS Report for Congress)

Premium   Purchase PDF for $24.95 (6 pages)
add to cart or subscribe for unlimited access
Release Date Dec. 3, 2007
Report Number RS22765
Report Type Report
Authors Patrick Purcell, Domestic Social Policy Division
Source Agency Congressional Research Service
Summary:

The Pension Protection Act of 2006 (PPA, P.L. 109-280) established new fundingrequirements for defined benefit pensions. The PPA also modified the provisions offederal law that prescribe how the minimum permissible value of a lump-sumdistribution from a defined benefit plan will be determined in 2008 and thereafter. Italso established conditions under which payment of lump sums from defined benefitplans will be restricted. This report summarizes the provisions of the PPA that affectlump sums paid from defined benefit pension plans.