Holding Parents Responsible For the Actions of Their Children

Parents have always been held liable, to a certain extent for their children’s actions in the United States. Some of the early parental liability statutes provided the juvenile court system jurisdiction over parents who had “contributed to the delinquency of a minor” My father spoke often of the “Truant Officer” who spends the day looking for wayward youth and sent notice of fines to his parents. During the past several years, parental liability laws have become much more popular due to societies fear of juvenile crime. Public support for new laws holding parents responsible for the actions of their dependent … Continue reading →

Pension Protection Act (PPA) of 2006

President George W. Bush signed into law The Pension Protection Act (PPA) on August. 17, 2006. The PPA has some real implications addressing plan sponsors, financial professionals, and investment participants. The intent of this bill is to strengthen workers’ retirement investments by: Changing defined benefit plan funding rules, Establishing a legitimate cash balance plans, Promoting the automatic enrollment in 401(k) plans, Establishing the Economic Growth and Tax Relief Reconciliation Act (EGTRRA) as a permanent improvement, and Allowing the creation of a combination defined benefit and 401(k) plan, known as the DB (k). The bill extends the law and allows the … Continue reading →