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Under the Pension Protection Act of 2006, employer contributions made after 2006 to a defined contribution plan must become vested at 100% after three years or under a 2nd-6th year gradual-vesting schedule (20% per year beginning with the second year of service, i.e. 100% after six years). (ref. 120 Stat. 988 of the Pension Protection Act of 2006.)
Pages in category "Employee Retirement Income Security Act of 1974" The following 23 pages are in this category, out of 23 total.
Individual retirement arrangements were introduced in 1974 with the enactment of the Employee Retirement Income Security Act (ERISA). [8] Taxpayers could contribute up to fifteen percent of their annual income or $1,500, whichever is less, each year and reduce their taxable income by the amount of their contributions. [8]
The federal Employee Retirement Income Security Act of 1974 — or ERISA — prevents creditors from making claims against funds in retirement accounts like 401(k)s, protecting the money you paid ...
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The Pension Benefit Guaranty Corporation (PBGC) is a United States federally chartered corporation created by the Employee Retirement Income Security Act of 1974 (ERISA) to encourage the continuation and maintenance of voluntary private defined benefit pension plans, provide timely and uninterrupted payment of pension benefits, and keep pension insurance premiums at the lowest level necessary ...
"The Senate finally corrects a 50-year mistake," proclaimed Senate Majority Leader Chuck Schumer, a Democrat from New York, after senators approved the legislation at 12:15 a.m. Saturday, December 21.
Passed the House of Representatives on October 31, 1985 (238-183 with amendment) Passed the Senate on November 14, 1985 ( 93-6 ) Reported by the joint conference committee on December 19, 1985; agreed to by the Senate on December 19, 1985 ( 78-1 ) and by the House on March 20, 1986 ( 230-154 )