2016 RS Plan True-up Detail Report Being Sent to Co-ops

Cooperatives participating in the Retirement Security (RS) Plan received invoices from October through December 2016 that contained estimated results of the RS Plan true-up calculation. The true-up process is intended to take into account the addition or removal of individual participants and reconcile the resulting cost with the amount the co-op contributed during the 2016 eight-month accelerated billing cycle.

Benefits administrators at a co-op that has a credit (or that owes an additional amount) as a result of the final true-up calculation will receive an email with an attached report that contains details on the final result calculation. This email will be sent during the week of February 27, 2017, separate from the RS Plan invoice.  Co-ops that do not have a credit or debit will not receive a detailed report. If a co-op did not experience a split or merger in 2016 and has elected the “base salary” definition, then that co-op will receive the final result of the true-up calculation (as well as a line item for each of the co-op’s subgroups) in the March 2017 invoice.

If you have any questions on the true-up calculation or report, please contact a member of NRECA’s Employee Benefit Services team at 866.673.2299 or your NRECA field representative.