Although this new law addresses primarily defined benefit pension plans, it contains important new requirements and opportunities for defined contribution plans including 401(k) plans, 403(b) plans (i.e., tax-sheltered annuity plans), and 457 plans. Plan sponsors must comply with new plan administration and disclosure requirements. They may want to take advantage of new safe harbor rules to simplify plan administration and increase plan participation. They may also want to use the new rules permitting certain fiduciaries to provide investment advice to employees.