December 2006 Edition of ERISA: The Law and the Code highlights changes to ERISA and the IRC including those made by the Pension Protection Act, which will have far-reaching impact on the operations of private pension plans and other retirement plans, as well as by earlier legislation. It is published by BNA Books, a division of BNA. The new December 2006 Edition includes provisions that require private pension plans to meet a 100 percent funding target in seven years; prohibit employers and unions from increasing pension benefits from single-employer plans that are less than 80 percent funded, unless the additional benefits are paid for immediately; require employers that terminate an underfunded pension plan through the bankruptcy process to pay $1,250.00 per participant for three years after the plan is terminated; allow automatic enrollment of employees into 401(k) plans and default investments; reduce the amortization period of multiemployer plans from 30 years to 15