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2006

On December 20, 2006, the President signed the Tax Relief and Health Care Act of 2006 (HR 6111), which includes extensions of expiring tax provisions and provisions on health savings accounts (HSAs). [Bill]

Late on July 28, 2006, HR 4 was passed and has benefit provisions that largely mirror those in a long-stalled House-Senate conference report. Among other things, HR 4 would overhaul pension funding rules, enacts EGTRRA pension permanence and includes reforms affecting hybrid plans, defined contribution plans, nonqualified deferred compensation, and health plans.. [HR 4]

On May 17, 2006, HR 4297, Tax Increase Prevention & Reconciliation Act of 2005, was signed into law. It extends the 15% rate on capital gains and dividends through 2010, provides one year of individual AMT relief, and eliminates the income cap on eligibility for rolling over traditional IRAs to Roth IRAs. [HR 4297 info]

On March 16, 2006, Senate Finance Committee Ranking Member Max Baucus (D-Mont.) introduced the Savings Competitiveness Act, which would expand the availability of payroll deduction retirement plans and encourage automatic enrollment. [Press Release]

On February 8, 2006, President Bush signed Feb. 8 the Deficit Reduction Act of 2005 (S. 1932; PL 109-171), a broad-based budget reconciliation bill that among other things increases the premiums that DB plans pay to the PBGC. [PL 109-171]

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