The Pension Protection Act of 2006 is over 900 pages long so it contains many other important provisions.  They include:

• Retention of the retirement  provisions of the 2001 tax act.  The contribution limits and age 50+ “catch-ups” for IRAs, 401(k), etc., are now permanent.  So is the existence of Roth 401(k)s.
• Permanent  status granted to the saver’s tax credit.
• Allowance of direct rollovers from retirement plans to Roth IRAs, starting in 2008.  You won’t have to roll money to a traditional IRA and then covert to a Roth IRA.
• Direct deposit of tax refunds to IRAs, starting in 2007.
• Penalty –free withdrawals from IRAs and other retirement plans for National Guard and reservists called to active duty for at least 179 days, if the call is before 1008.  Any amounts withdrawn can be replaced within two years after that active duty expires.
• Investment advice to retirement plan participants by the firms providing those plans, stating in 2007.
• Rollovers from qualified plans to IRAs for non-spouse beneficiaries, starting in 2007.
• DB/k plans.  Companies with 500 or fewer employees  will be able to create defined benefit pension  plans with 401(k) features, starting in 2010.
• Historic preservation deductions.  The new law allows for the preservation of entire buildings, not just the facade.  Higher standards for appraisals and recordkeeping also are included.
• S corporation donations.  The potential capital gain exposure has been reduced, putting S corporation shareholders on level ground with partners in partnerships.