Article: New Pension Law Changes Plan Asset Rules: Good News for Private Equity Funds and Fund Managers.(Pension Protection Act of 2006 )

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 ...

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