Headlines about "IRAs"

Gathered from the web by the editors at BenefitsLink.com.
[Guidance Overview] Retirement Plan Service Provider May Be Liable for Breach of ERISA Fiduciary Duty in Cross-Selling Rollover IRAs Invested in Proprietary Mutual Funds
Pages 1-2 of 7 pages. Excerpt: "A federal district court in Iowa allowed class action claims to proceed against a financial services company for alleged breaches of fiduciary duty under the Employee Retirement Income Security Act of 1974, as amended ('ERISA'), resulting from the company encouraging retirement plan participants to roll over their 401(k) plan assets into IRAs invested in the company's proprietary mutual funds." (Goodwin Procter LLP)

Consolidating Retirement Funds
Excerpt: "Consolidating multiple retirement plans can help simplify life and gain control over qualified plan assets. For example, consolidating IRA and 401(k) assets with one institution may save both time and money. Assets can be transferred from one IRA provider to another without taxes or penalties." (The Republican Eagle)

[Guidance Overview] Former Participants Have Standing to Pursue Equitable, But Not Legal Remedies With Respect to IRA Rollovers (PDF)
2 pages. Excerpt: "Plaintiffs are former participants in 401(k) plans, who allege that in rolling over their plan accounts to IRAs, defendants violated ERISA. On April, 21 2008, a federal judge in Iowa ruled that former participants in a 401(k) plan lacked standing to pursue legal remedies under ERISA, despite the Supreme Court's recent ruling in LaRue v. DeWolff, Boberg & Assoc., Inc., 128 S. Ct. 1020 (2008), but held that standing was proper to pursue equitable relief under ERISA. Young v. Principal Financial Group, Inc., S.D. Iowa., No. 4:07-cv-386." (Sutherland Asbill & Brennan LLP)

[Guidance Overview] Relief Allows Penalty-Free Withdrawal of Economic Stimulus Payments from Certain Tax-Favored Accounts
Excerpt: "For taxpayers who choose to leave the directly deposited amounts in their HSAs, IRAs, or other tax-favored accounts, the directly deposited amounts will count toward their contribution limits and will be subject to otherwise-applicable tax consequences, including any penalties resulting from excess contributions that are not timely corrected." (Employee Benefits Institute of America)

[Guidance Overview] Converting Retirement Plan Funds to a Roth IRA
Excerpt: "If your client wants to convert employer plan funds directly to a Roth IRA, there are some new Internal Revenue Service (IRS) rules you should be aware of. The Pension Protection Act of 2006 (PPA) allows such conversions beginning in 2008. In some cases, after-tax plan funds can be converted to a Roth IRA tax-free, if only those funds are converted and the remaining plan funds are rolled to a traditional IRA. Notice 2008-30 confirms that Roth conversions can be done from employer plans such as 401(k)s, 403(b)s and 457s." (Financial Planning)

[Guidance Overview] Economic Stimulus Payments to IRAs/Health Savings Accounts Can Be Withdrawn
Excerpt: "According to Announcement 2008-44, if the taxpayer withdraws the payment 'no later than the time for filing the taxpayer's income tax return for 2008, plus extensions,' the amount withdrawn will be treated as 'neither contributed to nor distributed from the account.' Therefore, according to the IRS, 'the amount withdrawn will not be subject to regular federal income tax nor to any additional tax or penalty under the Code.'" (Attorney B. Janell Grenier via Benefitsblog.com)

[Official Guidance] IRS Announcement 2008-44: No Penalty for Withdrawing Stimulus Payment That Was Deposited Directly Into IRA, HSA or Similar Accounts (PDF)
4 pages. Excerpt: "The account specified by the taxpayer could be a checking or saving account, or an account that is given favorable tax treatment under the Code, such as an IRA, a health savings account (HSA), an Archer MSA, a Coverdell education savings account (CESA), or a qualified tuition program account (QTP or section 529 program) . . . . An individual may withdraw from a tax-favored account an amount less than or equal to the amount of the Economic Stimulus Payment directly deposited into such account, notwithstanding any restrictions in the Code. To the extent that the withdrawal is made no later than the time for filing the taxpayer's income tax return for 2008, plus extensions (or in the case of a CESA, the later of May 31, 2009, or the time for filing the taxpayer's income tax return for 2008, plus extensions), the amount withdrawn is treated as neither contributed to nor distributed from the account. Thus, the amount withdrawn will not be subject to regular federal income tax nor to any additional tax or penalty under the Code." (Internal Revenue Service)

House Passes Taxpayer Rights Bill, Including Provisions on IRAs and HSAs
Excerpt: "The House on April 15, 2008, passed H.R. 5719, The Taxpayer Assistance and Simplification Bill of 2008, this year's version of taxpayer rights legislation. Among the items included in the legislation are provisions affecting IRAs and health savings accounts (HSAs)." (Wolters Kluwer)

Lousy 401(k)? Lousy Economy? Get a Roth!
Excerpt: "From a pure tax standpoint, a Roth IRA is usually a better choice if you expect to be in a higher tax bracket when the time comes to make withdrawals. A pretax vehicle like a 401(k) or traditional IRA is a better option if you expect to be in a lower tax bracket when you retire.But if you've got a lousy 401(k) plan, the Roth IRA wins hands down, no matter how your tax situation is likely to shake out." (Money via CNNMoney.com)

More Companies Offer Roth 401(k)s, But Complexity Remains a Concern
Excerpt: "Roughly 22% of corporations now offer a Roth 401(k) option to their workers, up from 12% last year, according to a survey from accounting firm Grant Thornton, which, along with Plan Sponsor Advisors and law firm Drinker Biddle, polled chief financial officers and human resources executives at nearly 200 companies." (Financial Week; free registration required)

Principal IRA Rollover Suit Could Blaze New Territory
Excerpt: "A lawsuit by former 401(k) participants against the Principal Financial Group appears poised to make new law. The lawsuit is over allegations that the company duped participants into IRA rollovers into Principal's proprietary mutual funds." (planadviser)

A Stalwart of Retirement Planning: The IRA
Excerpt: "Financial experts say that one often-overlooked resource is the humble Individual Retirement Account, or I.R.A., which has been a part of the personal finance landscape for so long that many of us take it for granted. . . . The rules for some I.R.A. contributions are so complex that many Americans may not realize they are eligible to make them . . . ." (The New York Times; free registration required)

Introducing the Wealthy to Roth IRAs As the Income Limit on Roth IRA Participation Disappears in 2010
Excerpt: "Advisors take heed: the income limit for those who can convert their retirement holdings from a traditional IRA to a Roth IRA (now applicable to anyone with a modified adjusted gross income of $100,000) disappears permanently in 2010, so high-net-worth folks -- even Bill Gates -- will be able to get a portion of their assets into a tax-free Roth account." (Investment Advisor)

[Guidance Overview] If an Individual Rolls Over Two IRA Distributions in a 12-Month Period, What Are the Consequences?
Excerpt: "An IRA owner is allowed to roll over just one distribution from the same IRA, or the same assets, in a 12-month period. According to the instructions for filing Form 5498, an IRA custodian/trustee should report (or correct any reporting already completed) any ineligible rollover contribution as a regular contribution. This required reporting serves to make the second (or third, etc.) distribution from a single IRA in a 12-month period, taxable." (Wolters Kluwer)

[Guidance Overview] Beneficiaries Naming Beneficiaries - Examples and a New Form, the IRA Successor Beneficiary Form
Excerpt: "May an individual retirement account (IRA) beneficiary name a beneficiary -- a successor to receive any remaining assets upon the beneficiary's death? What are the benefits of doing so?" (Wolters Kluwer)

Bill Would Order CalPERS to Offer IRAs to All Californians Working in the Private Sector
Excerpt: "A bill in the state Assembly would require the California Public Employees' Retirement System, the mammoth pension fund for government workers, to offer individual retirement accounts for private-sector employees. The goal of the bill, AB2940, is to increase retirement savings among the vast number of people who have no plan at work and don't have the will or skill to open an IRA on their own." (San Francisco Chronicle)

[Guidance Overview] With Active Participant Status – Can You Deduct Your IRA Contribution?
Excerpt: "[I]f the individual is an active participant or married to an active participant, his eligibility for deducting a traditional IRA contribution depends on his modified adjusted gross income (MAGI) and tax filing status. The MAGI limits as they apply to the different tax filing statuses are [in the chart on the target page]." (RetirementDictionary.com)

California Assembly Panel Passes State-Run IRA Proposal
Excerpt: "The bill envisions the Employment Development Department using its existing automated system for collecting payroll taxes to allow workers to have contributions deducted from their paychecks. CalPERS is renowned for its investing prowess, supporters say, and could use a contractor to service the accounts, such as mailing statements and maintaining a Web site. If the retirement system tapped into a large market, the big pool of investors would create economies of scale." (The Sacramento Bee)

[Guidance Overview] IRS Answers Questions About PPA Distributions
Excerpt: "In Notice 2008-30, the IRS answers questions about certain distribution-related provisions of the Pension Protection Act of 2006 (PPA) that took effect in 2008. The notice addresses interest rate assumptions for lump sum distributions, rollovers from eligible retirement plans to Roth IRAs, qualified optional survivor annuity (QOSA) requirements and gap-period earnings." (Watson Wyatt Worldwide)

[Official Guidance] Text of Taxpayer Assistance and Simplification Act, H.R. 5719 (PDF)
Excerpt: "To amend the Internal Revenue Code of 1986 to conform return preparer penalty standards, delay implementation of withholding taxes on government contractors, enhance taxpayer protections, assist low-income taxpayers, and for other purposes." (U.S. House of Representatives via American Benefits Council)

[Guidance Overview] Official Summary of the Taxpayer Assistance and Simplification Act, H.R. 5719 (PDF)
3 pages. Changes related to IRAs and HSAs are included. (American Benefits Council)

The Best New Features of a Rich 401(k)
Excerpt: "Over the past year or two, a combo of new government regulations and a chaotic stock market - not to mention the continued slashing of traditional pensions - has spurred many companies to revamp their 401(k) plans in ways that can pay off big-time. Unlike a regular 401(k), the Roth version - permanently greenlighted by Congress in 2006 - lets you make contributions only after the money is taxed. But withdrawals are tax-free. If you'll be in a higher bracket in retirement, a Roth 401(k) can be a better deal." (CNNMoney.com)

Roth 401(k) vs. Regular 401(k) Calculator
Schwab provides this Roth 401(k) calculator to help people make a determination about whether or not a Roth 401(k) is right for them. (Schwab Retirement Plan Services)

IRA Hardship Loans Sought
Excerpt: "So-called hardship loans from individual retirement accounts would be permitted under a bill introduced last month. The IRA Assistance Act of 2008 (HR 5641), co-sponsored by Reps. Thaddeus McCotter, R-Mich., and Ron Paul, R-Texas, would allow hardship loans from IRAs -- but not Roth IRAs -- for qualifying situations as determined by the Internal Revenue Service under current law . . . ." (Investment News; free registration required)

[Guidance Overview] To Convert or Not to Convert - to a Roth IRA - That is the Question (PDF)
10 pages. Excerpt: "Robert Keebler weighs the considerations in whether to convert to a Roth IRA. 2010 will present an unprecedented opportunity for this planning in the right circumstances due to the elimination of the current AGI limitation and the ability to stretch the income tax due on the conversion over a two year period." (R.S. Keebler and S.J Bigge in the Journal of Retirement Planning via Ataxplan Publications)

Take Your 401(k) or Leave It? Understand Your Options When Leaving a Job
Excerpt: "In times of rising unemployment, workers who find themselves being laid off must decide whether to take their retirement plan with them or leave it with their employer. Knowing the advantages and disadvantages of retirement accounts, mainly 401(k) versus Individual Retirement Account, can help people decide what action is best for their retirement money in uncertain times." (MCCLATCHY-TRIBUNE NEWS SERVICE via SunHerald.com)

[Guidance Overview] IRS Guidance on 2008 Law Changes
Excerpt: "The IRS has released guidance on several law changes going into effect in 2008. Of interest to defined contribution practitioners, Notice 2008-30 discusses distributions of gap period income for 402(g) corrections, rollovers of pretax plan accounts to Roth IRAs, and qualified optional survivor annuities." (SunGard Corbel LLC)

With Farm Bill postponed, Future of New Roth 457 Arrangements in 457 Plans Still Uncertain
Excerpt: "The Senate passed a 30-day extension on farm programs legislation, H.R. 2419, commonly known as the Farm Bill, until April 18, 2008. The bill includes a provision that would provide for Roth arrangements in 457 plans – but the future of these new arrangements is uncertain at this time." (ICMA-RC)

[Guidance Overview] Rollovers to Nonspouse Beneficiaries Are Back With Passage of H.R. 3361 - For 2009 not 2008
Excerpt: "For rollovers to nonspouse beneficiaries, the passage of H.R. 3361 has significant impact because of the IRS' position on rollovers to nonspouse beneficiaries." (Pension Protection Act Blog)

[Guidance Overview] Overview of Nonspouse Beneficiary Rollover Rules
Excerpt: "Guidance on this topic has evolved since the enactment of the Pension Protection Act of 2006 (PPA). The purpose of this article is to provide all the rules on nonspouse beneficiary rollovers in one place. To start, we provide a list of the guidance on this subject incorporated into this article." (McKay Hochman Co., Inc.)

[Guidance Overview] IRS Issues Guidance on Rollovers to Roth IRAs, Optional Survivor Annuity Rules
Excerpt: "The IRS has issued guidance, in question-and-answer format, on the provisions of the Pension Protection Act of 2006 (PPA, P.L. 109-280) which relate to distributions after December 31, 2007." (Wolters Kluwer)

Federal Thrift Saving Plan Adds a Roth Option
Excerpt: "Early in 2008, the Thrift Savings Plan (TSP) added a new withdrawal option for TSP participants who are eligible to transfer their TSP accounts to a traditional IRA or to an eligible retirement plan. Eligible participants are now able to transfer their accounts to a Roth IRA." (FederalNewsRadio - WFED 1050 AM)

[Guidance Overview] Holding Real Estate, Limited Partnerships and Other Exotic Investments in IRAs (PDF)
12 pages. Excerpt: "This article will first address general rules that apply to unique assets in IRAs (e.g., valuation of assets, prohibited transactions, unrelated business taxable income, etc.), then provide more detail on specific types of IRA assets." (John N. Singletary Jr. in ABA Trust & Investments)

Traditional and Roth Individual Retirement Accounts: A Primer (PDF)
18 pages. Excerpt: "This report describes the primary features of two common retirement savings accounts that are available to individuals. Both traditional and Roth IRAs offer tax incentives to encourage individuals to save for retirement. Although the accounts have many features in common, they differ in some very important aspects. This report explains the eligibility requirements, contribution limits, tax deductibility of contributions, and rules for withdrawing funds from the accounts." (U.S. Congressional Reseach Service)

[Guidance Overview] Q&A Guidance on New Requirements - Gap-Period Earnings on Excess Deferrals and Rollovers to Roth IRAs
Excerpt: "This notice provides guidance, in Q&A format, on the gap-period earnings requirement that applies to distributions of excess deferrals for taxable years beginning on or after January 1, 2007. It also addresses several distribution-related provisions of the Pension Protection Act of 2006 (PPA) that are effective in 2008, the most notable of which for 401(k) plans allows pre-tax accounts to be rolled over into Roth IRAs." (Employee Benefits Institute of America)

[Official Guidance] Text of IRS Notice 2008-30: Certain Disribution-Related Provisions of PPA That Are Effective in 2008 (PDF)
10 pages. Excerpt: "This notice [provides] guidance on amending plans to require that distribution of excess deferrals includes earnings from the end of the taxable year to the date of distribution ('gap-period' earnings). . . . The sections of PPA '06 addressed in this notice are § 824 (relating to rollovers from eligible retirement plans to Roth IRAs), § 1004 (relating to additional survivor annuity options), and § 302 (relating to interest rate assumptions for lump sum distributions)." (Internal Revenue Service)

[Guidance Overview] Direct Rollover to Roth IRA
Excerpt: "The Pension Protection Act of 2006 permits the direct rollover of a qualified plan distributions to a Roth IRA for the first time in 2008. We had been awaiting IRS guidance on this transaction and have found that the IRS issued guidance recently by way of Publication 575." (McKay Hochman Co., Inc.)

[Opinion] IRS Applies Wash Sale Rules to IRAs, and Maybe to Other Directed Accounts
Excerpt: "Ideally, Section 1091 wash-sale rules should only apply to replacement purchases by IRAs, and should not extend to the other types of directed plans. Conservative taxpayers, however, will take the approach that purchase by any directed account, in whatever form, will trigger the wash sale rule of Section 1091." (theworkplace.biz)

[Guidance Overview] Ruling May Impact Tax Treatment of Transactions Inside 401(k)s, IRAs
Excerpt: "Individuals who actively invest their retirement accounts should consider the impact of the ruling on their individual investment decisions and would be advised to avoid transactions where a purchase and sale of similar securities will occur within the 60-day period beginning 30 days before a sale and ending 30 days after a sale." (Employee Benefit News; free registration required)

[Guidance Overview] How Is the 60 Days for IRA Rollovers Calculated?
Excerpt: "The 60-day period begins the day after the IRA owner receives the assets. An IRA owner is responsible for determining his/her receipt date. Whether he/she can exercise control of the distributed assets is a major factor is making this determination." (Wolters Kluwer Financial Services)

[Guidance Overview] A Bank Asks -- Can We Exercise Our Right of Setoff Against an IRA Account?
Excerpt: "We don't believe you can exercise your right of setoff against an individual retirement account (IRA), for at least three reasons. First, it would breach your fiduciary obligations as trustee or custodian of the IRA. Second, IRAs have been deemed 'special deposits' immune from setoff. And third, the Federal Tax Code provides that IRAs are not 'forfeitable'." (Wolters Kluwer Financial Services)

IRS Addresses Application of Wash Sale Rules to Sales of Securities from Traditional or Roth IRAs
Excerpt: "The ruling addresses the situation where a taxpayer sells stock or securities at a loss, then purchases substantially the same stock or securities within 30 days of the sale through his traditional or Roth IRA. The loss on the sale of stock would be disallowed for tax purposes under the wash sales rules of Code Sec. 1091, the IRS ruled, and the taxpayer's basis in the IRA would not be increased." (Wolters Kluwer Financial Services)

U.S. Labor Department Unveils Online Resource to Help Americans Chart Retirement Finances
Nice! Excerpt: "The U.S. Department of Labor today released a new online resource that makes it easier for Americans to prepare for a financially secure retirement. A series of interactive worksheets were developed as a companion to a 2006 publication entitled 'Taking the Mystery Out of Retirement Planning.' Using the worksheets, individuals who are 10 to 15 years from retirement can calculate their income and savings as well as their projected expenses in retirement." (Employee Benefits Security Administration, U.S. Department of Labor)

[Guidance Overview] Waiver of 60-day Rollover Requirement Denied Where Taxpayer Mistakenly Rolled Over Funds Into a Non-IRA Account
Excerpt: "In a private ruling, the IRS refused to grant a waiver of the 60-day rollover requirement where the taxpayer mistakenly rolled over a 401(k) plan distribution into a taxable account." (CCH Pension and Benefits)

Asset Allocation at Retirement Age: Do You Really Need to Make a Change?
Excerpt: "The information available from the popular press and many advisors is to generally guide retirees to change their allocation to one that is more conservative. This is usually interpreted to mean that the investor should lighten up on stocks and put more of their investments into bonds. But retirement doesn't necessarily mean an individual should change their asset allocation. To see why, let's first look at the asset allocation process." (American Association of Individual Investors)

IRA Savers Preserving Retirement Assets As Long As Possible
Excerpt: "Most individual retirement account (IRA) owners are taking a long-term view of their retirement income and assets and tend to preserve their IRA assets as long as possible, according to a new study by the Investment Company Institute (ICI)." (CCH Pension and Benefits)

Bush Proposed Benefits-Related Revenues Measures for FY2009; 'Deja Vu All Over Again' on Most Employee Benefit Changes
Excerpt: "For good or ill, in the last year of any president's term, not much newly-introduced legislation from the White House sees the light of day. The Bush Administration's fiscal year 2009 proposed revenue sources outlined in the General Explanations of the Administration's FY 2009 Revenue Proposals, released by the Treasury Department on February 5, 2008, appears to be headed down the same road . . . ." (Deloitte)

Reporting Requirements for a Qualified HSA Funding Distributions
Excerpt: "The use of the term trustee-to-trustee transfer as it relates to qualified HSA funding distributions has created confusion for some owners of health savings account (HSA)s and IRAs, and even some custodians. This uncertainty stems from the fact that the term 'trustee-to-trustee transfer' is typically used by financial institutions to refer to a nonreportable movement of assets between retirement accounts of the same type, such as transfers between two traditional IRAs or between two Roth IRAs. And HSAs and IRAs are (obviously) two different types of accounts." (Appleby Retirement Dictionary)

Working paper - To Roth or Not? That is the Question
Excerpt: "This paper uses ESPlanner (Economic Security Planner) -- a financial planning software program co-developed by Kotlikoff -- to study the relative merits of regular and Roth retirement accounts. In providing its consumption smoothing recommendations, ESPlanner makes the highly detailed tax and Social Security benefit calculations needed to compare retirement account options. In particular, ESPlanner can determine how different retirement account options affect different households' living standards under different assumptions about future tax policy." (National Bureau of Economic Research; paid subscription or individual purchase required to retrieve fulltext)

Self-Directed IRAs Directing Money Into Real Estate
Excerpt: "'Most self-directed IRA investors think that even though the real estate markets have tanked, it's a buying opportunity,' said Stephan Roche, president and COO of Guidant Financial Group. 'They view it as a chance to get decent investment opportunities on the cheap.'" (Financial Week; free registration required)

Follow These Five Steps to Plan Your Roth IRA Conversion
Excerpt: "Come 2010, Roth IRAs may become the retirement plan of choice for all Americans. That year, Uncle Sam will lift the income limits on Roth IRA conversions that have precluded taxpayers with modified adjusted gross income of $100,000 or more to convert their traditional IRA to a Roth IRA." (MarketWatch)

[Opinion] American Benefits Council Letter on Direct Rollovers from Retirement Plans to Roth IRAs (PDF)
3 pages. Excerpt: "The Council understands that the Service is actively working on guidance that will address direct rollovers from plans to Roth IRAs. The Council looks forward to the guidance and appreciates that the Service is giving this issue attention, notwithstanding its significant workload. I am writing to highlight some of the issues that our members have identified. In this regard, the Council's members have already processed a significant number of direct rollovers from plans to Roth IRAs and, perhaps inevitably, a number of questions have arisen." (American Benefits Council)

There's a Big Business in Moving Clients to IRAs, Cerulli Suggests
Excerpt: "Cerulli data suggests that the total individual retirement account (IRA) market is growing rapidly at a five-year compound annual growth rate (CAGR) of 10%, with rollovers from 401(k) plans identified as the single largest source for this growth." (Investment Advisor)

[Guidance Overview] Plan Funds Rollover Chart, Updated January 2008 (PDF)
1 page. Excerpt: "This is a chart of what the Internal Revenue Service regards as permissible when rolling funds over from one type ofretirement account to another." (401khelpcenter.com)

Appendix to Investment Company Institute Study: Additional Data on IRA Ownership in 2007 (PDF)
17 pages. Excerpt: "The January 2008 issue of Fundamentals covers Individual Retirement Account (IRA) ownership in 2007. The report highlights data collected by the Investment Company Institute in a recent survey of households owning IRAs. This Appendix provides supplementary tables with additional detail for the January 2008 Fundamentals." (Investment Company Institute)

The Role of IRAs in U.S. Households' Saving for Retirement (PDF)
4 pages; includes chart showing proportion of investments in mutual funds, bank and thrift deposits, life insurance companies, and securities directly held through brokerage accounts. (Investment Company Institute)

Senate Passes Bill on Roth Arrangements in 457 Plans
Excerpt: "Differences between the House and Senate bills will have to be resolved in a conference, which is expected to take place early in 2008. The fact that the Roth 457 provision raises revenue for the Federal Treasury greatly increases its prospects for enactment in this or another bill." (ICMA-RC)

Survey Shows Americans Delay Spending IRAs
Excerpt: "Americans who have money stored in Individual Retirement Accounts tend to hang on to it for use in the later years of their retirement, according to a study being released Monday. The Investment Company Institute, a Washington, D.C.-based trade association, found that less than one-fifth of households with IRAs made withdrawals from their accounts in tax year 2006, with the typical withdrawal averaging about 6 percent of the balance." (The Washington Post; free registration required)

[Guidance Overview] Pre-Tax Rollovers to Roth IRAs
Excerpt: "Beginning January 1, 2008, a plan participant may roll over directly from an 'eligible retirement plan' account to a Roth IRA, subject to the existing limitation on Roth IRA rollovers. An eligible retirement plan includes a qualified plan, a 403(b) plan, and a governmental 457(b) plan. This law change was part of the Pension Protection Act of 2006 ('PPA')." (SunGard Corbel LLC)

[Guidance Overview] Saver's Credit for 2007 (PDF)
1 page. Excerpt: "The Saver's Credit was made permanent in the Pension Protection Act of 2006, and it is important that plan sponsors let their participants know about this significant benefit. The tax credit ranges from 10 to 50 percent of each $1.00 contributed, up to the first $2,000 put in the 401(k)." (Profit Sharing/401(k) Council of America)

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