CVS Caremark®, NRECA’s pharmacy benefit manager, is sending a letter to select participants on September 28 encouraging the use of Exclusive Choice pharmacies to save money on prescription drugs. The letter will be sent to NRECA Medical Plan participants who[…]
2020 Summary Annual Reports (SARs) for the 401(k) Pension Plan and Group Benefits Program will be posted to the Employee Benefits website in November. These documents should be distributed to participants by mid-December. An article in NRECA Employee Benefits Weekly will[…]
In determining participant Retirement Security (RS) Plan benefits as single cash payments (sometimes referred to as “lump sum payments”), NRECA uses different mortality and interest rate assumptions depending on when that individual earned benefits within the plan. Calculations for 2022[…]
Each year, NRECA invoices each participating cooperative directly for its 401(k) Pension Plan employer-paid expenses. To help co-ops plan for their 2022 expenses, an estimate of this expense is prepared for each co-op by subgroup. An email containing co-op-specific estimates[…]
Beginning September 22, 2021, 401(k) Pension Plan participants with a self-directed brokerage account (SDBA) can direct dollar amounts by money type/source being transferred from their SDBA into the investment option(s) of their choice within their 401(k) account using the NRECA[…]