NRECA Employee Benefits Weekly

2017 Tax-Advantaged Accounts: Mark These Dates on Your Calendar

Posted on Posted in Tax-advantaged Accounts

If your cooperative is planning to offer a CBA-administered 125 Plan and/or a health reimbursement arrangement (HRA) plan in 2017, be sure to put September 30 on your calendar.

That’s the deadline for returning completed documents to Cooperative Benefit Administrators (CBA) if your co-op will be adopting a new plan or amending its existing plan(s).

The documents your co-op will need for 2017 plan year adoptions and amendments, enrollments and elections, and other information for the 2017 plan year are now available online:

What do you need to return to CBA?
If your co-op is:

  • adopting a new plan, you’ll need to send the following documents: a completed Adoption Agreement, Payroll and Funding Form, and Administrative Services Agreement. (For each plan type, a checklist for first-time adoption is available on the pages linked above.)
  • amending its plan, a new Adoption Agreement must be sent;
  • terminating a plan, this must be requested in writing;
  • sponsoring a 125 plan, you must provide your 2017 payroll calendar by September 30;
  • making changes to its HRA funding policy, you must return a completed Payroll and Funding Form by September 30; and
  • finally, if your co-op has new banking information for any plan, you must return a completed Payroll and Funding Form

Open enrollment: November 1–30
The period for enrolling your employees in tax-advantaged plans will run from November 1–30. Look for more information in I&FS Weekly soon on the open enrollment process.

For questions about adopting plans, plan changes, or open enrollment, contact CBA at 866.673.2299 and choose option 1, then 4, or email CBA.FSA.HRA@nreca.coop.

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