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Article: New Pension Law Changes Plan Asset Rules: Good News for Private Equity Funds and Fund Managers.(Pension Protection Act of 2006 )
- Article from:
- Mondaq Business Briefing
- Article date:
- August 18, 2006
CopyrightCOPYRIGHT 2006 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Pension Protection Act of 2006 (the "Act") was passed by the House on July 28, 2006 and the Senate on August 3, 2006. The Act was presented to President Bush on August 14, 2006 for his signature, and he is expected to sign it on August 17, 2006. The Act makes sweeping changes to many areas of pension law, and a subsequent Alert will address those changes. This Alert focuses on two changes to the plan asset rules under the Employee Retirement Income Security Act of 1974 ("ERISA"), the impact of which is good news for private equity investment equity funds (including venture capital funds) and fund managers and advisers.
Plan asset rules
The plan ...