The Pension Protection Act of 2006 did the exact opposite of what it was intended to do, which was improve retirement security in the United States, according to research by the National Institute on Retirement Security.

Rather than protect pensions, as it was designed to do, the market-based funding requirements increased plan costs and cost volatility to the point where corporations decided it was time to either freeze or terminate their plans. The amount companies had to pay to the Pension Benefit Guaranty Corporation also continued to rise, giving even more incentive for plans to terminate.

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