2014 Summary Annual Reports Now Online

The 2014 Summary Annual Reports (SARs) for the NRECA Group Benefits Program and 401(k) Pension Plan are now available on the Employee Benefits website.

The Employee Retirement Income Security Act (ERISA) requires that a summary of the annual Form 5500 be distributed to plan participants and beneficiaries. The SAR is a summary of the plan’s financial status.

Distribute by December 15, 2015
ERISA requires that a copy of the SAR be given to plan participants and beneficiaries by December 15, 2015. Noncompliance can result in penalties of up to $110 per day.

Give the 401(k) Pension Plan SAR to active and disabled employees (including employees on a leave of absence) who are participating in or who have a benefit in the 401(k) Plan. Note that NRECA will mail copies to retirees, alternate payees and beneficiaries of deceased participants, separated participants with benefits and terminated-vested participants.

Provide the Group Benefits Program SAR to active and disabled employees (including employees on a leave of absence), retirees, retained attorneys, directors, COBRA beneficiaries and children covered under qualified medical child support orders who are participating in or who have a benefit in the group benefits program.

Electronic distribution rules
NRECA doesn’t provide paper copies for distribution. You may provide electronic copies to your participants by email. For foreign language requirements and electronic distribution instructions, refer to the distribution instructions and acknowledgment.

Distribution acknowledgment required
To fulfill your compliance obligations, you must complete the distribution acknowledgment(s) found at the end of the instructions. Return it to NRECA’s benefits compliance team using the email address or fax number provided in the instructions.