Pension Protection Act

The Pension Protection Act (PPA), passed in 2006, aimed to strengthen the U.S. pension system and protect the retirement savings of workers. It introduced rules ensuring that employers properly fund their pension plans and improved transparency by requiring better disclosure of plan benefits. The PPA also encouraged workers to save for retirement by enhancing automatic enrollment in 401(k) plans and expanding access to these savings options. Overall, the act sought to secure a more reliable retirement future for American workers amidst concerns about underfunded pension plans.