Lately I have been hearing lots about the PPA and how it will change IRA procedures. I have been hearing lots from vendors, but little from regulators, or other more legitimate sources. Anyone have any info on what the real deal is? What are the changes and when are they effective? I did a search on BOL and have found no hits on "Pension Protection Act" for the last 6 months. I can't believe that if it's as a big a deal as vendors are making out.

Briefly, some of the IRA changes:
-EGTRRA provisions permanent (increased contribution limits, catch up contributions, saver's credit)
-Income restrictions for Trad IRA deductions and Roth IRA contributions indexed for cost-of-living adjustments
-Allows for direct deposit of tax refunds into IRAs
-Provides for QRP direct rollovers into Roth IRAs
-Allows nonspouse beneficiaries to move QRP assets directly into inherited IRAs
-Allows tax-free IRA distributions donated to charities
-Allows penalty-free IRA distributions and repayments for guardsmen and reservists

You should get with one of your vendors to discuss the impact of the legislation on your operations.

Here's a link to an article that was posted on ComplianceHeadquarters.com. http://www.complianceheadquarters.com/IRA/IRA_Articles/8_10_06.html