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Vanguard Chairman’s Corner Looks at Retirement Bill

In the October 4th, 2006 edition of John J. Brennan’s column titled Chairman’s Corner, Mr. Brennan takes a look at the U.S. Congress’ Pension Protection Act of 2006 that President Bush signed in mid-August and proclaims it the best personal finance publication of the year. Chairman Brennan then goes on to discuss the various enactments of the bill which includes: making permanent the tax benefits of 529 savings plans, strengthening of IRA and defined-contribution retirement plans, introduction of autopilot 401(k) plans which include automatic enrollment, and others. It’s a very high level and very basic explanation of each of the bill’s moves that anyone can comprehend and appreciate. If you want a high level explanation of what the bill has done, I encourage everyone to read the brief article.

John J. Brennan is the current Chairman of the Vanguard Group and has been in this role since taking over for founder John Bogle in January of 1996. I take a look at Chapter 7 of Boglehead’s Guide to Investing [3] tomorrow in the Boglehead’s October Project [4].

via Vanguard’s Chairman’s Corner [5].