A major objective of the Pension Protection Act is to _________________ 401(k)pension plans.

Question

Quizplus · Accepted Answer

The major objective of the Pension Protection Act is to provide greater control over 401(k) pension plans. The act introduced rules to increase the transparency and accountability of employers and plan providers, such as the requirement to provide annual fee disclosure statements to plan participants. It also established automatic enrollment and escalation features to encourage employees to save more for retirement. The act aimed to protect the interests of plan participants and ensure that their retirement savings are being managed responsibly.

A Major Objective of the Pension Protection Act Is to _________________