How will the Pension Protection Act affect you?
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In August 2006, the federal government passed the Pension Protection Act (PPA), a sweeping new law that could have a significant impact on how you save and plan for retirement. Depending on your age, family and current retirement savings strategies, the PPA provisions might provide new benefits and opportunities.
If you're under the age of 50 ...
It's likely that you have some time before you retire, which means you're in a great place to be proactive about your plans for retirement. The PPA might impact your:
If you're between the ages of 50 and 65 ...
With the right planning, you still have time to meet your financial goals. Retired or not, options to save and draw income abound. Learn how the PPA might affect your:
- Contribution limits
- Beneficiary designation
- Plans to save for education costs
- In-service distributions
If you're age 65 or over ...
Increasingly, more people are taking a unique approach to life in retirement. From how you spend your time to how you spend and save money — the choice is yours. Find out what the PPA might mean for your:
- Contribution limits
- Beneficiary designation
- Plans to save for education costs
- In-service distributions
Regardless of your age and situation, the complex PPA legislation could affect you. A financial advisor can discuss some of the rules and opportunities that apply to you. Talk it over with your advisor, or set up a complimentary initial consultation with an Ameriprise financial advisor near you.
In 2006, the federal government passed the Pension Protection Act, a sweeping new law that could have a significant impact on your retirement plans. Based on your answers, we can see how these new provisions might affect you, what opportunities they might provide, and direct you to an Ameriprise advisor who can tell you more.