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New Pension Law Significantly Modifies ERISA’s Fiduciary Responsibility Provisions

On August 3rd, Congress passed the Pension Protection Act of 2006 (the “PPA”). Although media attention has focused on the PPA’s provisions designed to overhaul the funding requirements for defined benefit plans, the new law contains several changes in the ERISA fiduciary responsibility and prohibited transaction provisions that will have an impact on the management of pension plan assets.


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