(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
Pension Protection Technical Corrections Act of 2008 - Title I: Technical Corrections Related to the Pension Protection Act of 2006 - (Sec. 101) Makes technical corrections to the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code to conform to the Pension Protection Act of 2006 regarding various specified items, including: (1) the target normal cost of benefits; (2) specified implementation and effective dates for certain requirements; (3) one-participant retirement plans; (4) special age-related rules in accrued benefit requirements for applicable defined benefit plans; (5) inapplicability in certain cases of the limitation on income deductions (for tax purposes) for employer contributions to one or more defined contribution plans; and (6) adjustments to averaging in the determination of the value of the assets of single-employer defined benefit pension plans for minimum funding purposes.
(Sec. 110) Makes technical corrections to the Railroad Retirement Act of 1974 with respect to railroad retirement payments to persons not entitled to an annuity.
Title II: Other Provisions - (Sec. 201) Requires that the value of assets for any ERISA plan under the averaging method be adjusted for expected earnings (in addition to contributions and distributions, as under current law).
(Sec. 202) Modifies the interest rate assumption required with respect to certain small employer plans.
(Sec. 203) Makes technical corrections to the Age Discrimination in Employment Act of 1967 with respect to special age-related rules for determination of the market rate of return in the calculation of interest credits in governmental defined benefit plans.
(Sec. 204) Prescribes a special rule for exclusion from gross income of certain reimbursements from governmental plans for health care expenses of a deceased plan participant's beneficiary.
(Sec. 205) Requires treatment as a qualified rollover contribution of any airline payment amount received by a qualified airline employee in an airline carrier bankruptcy which is transferred to a Roth IRA.
(Sec. 206) Increases by $4 the penalties for failure to file partnership returns and S corporation returns.