2020 Compliance Annual Reporting Resources Now Available

The 2020 retirement compliance questionnaire and resource guide are now available on the Employee Benefits website. Also, the 2020 Compliance Annual Reporting webinar is now available on-demand to help you prepare your data.  

A Message Center notification linking to all 2020 compliance reporting resources was sent today, November 18, to benefits administrators at cooperatives that offer one or both of the NRECA-sponsored retirement plans. A few important deadlines and reminders as you prepare your submission:

• The questionnaire is due no later than February 15, 2021. You can either type responses directly into the form or print a copy and complete it by hand. Adobe Reader is required. If you plan to fill in the fields manually, first type your co-op’s name and RUS number on page 2. Your entries will populate the footer of all other pages.
• W-2 salary data accompanies your questionnaire and is also due on February 15. NRECA’s systems will be ready to receive W-2 data on January 4, 2021.
• The resource guide includes a timeline, answers to frequently asked questions, preparation checklist, and detailed instructions for both W-2 data and questionnaire reporting.
• The W-2 Salary Submission file layout provides field descriptions for co-ops that plan to import a file containing their data.
• The webinar was developed by NRECA’s retirement compliance team. As in prior years, retirement compliance staff explain how to gather and report your questionnaire and W-2 salary data. The recording and slides will be available throughout 2021 so that you can listen at your convenience.

If you have questions as you prepare to send your compliance data, contact the benefits compliance team at 866.673.2299, option 7, or pension.compliance@nreca.coop.