2 pages. Excerpt: Some of the transition period relief that was available for 2005 is not available for 2006. As a result: Participants must make deferral elections on regular compensation to be received in 2006 by December 31, 2005. Participants who want to lower or cancel deferral elections or terminate their plan participation for 2006 must do so by December 31, 2005. Plan sponsors that want to terminate plans for reasons not allowed under the proposed rules must do so by the end of 2005.