NRECA Employee Benefits Weekly

2022 Compliance Annual Reporting Resources Now Available

Posted on Posted in Compliance, Retirement Benefits

The retirement compliance questionnaire and resource guide for 2022 are now available on the Employee Benefits website. Also, the prerecorded 2022 Compliance Annual Reporting webinar is now available for on-demand viewing to help you prepare your data.

A Message Center notification linking to all 2022 compliance reporting resources will be sent by the end of this week to benefits administrators at cooperatives that offer one or both of the retirement plans offered by NRECA. Both the questionnaire and W-2 salary data are due by February 15, 2023.

Here are some important deadlines and reminders as you prepare your submission:

  • The questionnaire has been reformatted for 2022 to make it easier to complete. You only need to return pages 1 through 13. The remaining pages are section-by-section instructions. They contain no reportable fields.
  • Either type responses directly into the questionnaire file or print it and fill out a paper copy. Adobe Reader is required. If you choose pen and paper, type your co-op’s name and RUS number on page 1 before printing it. Doing this populates your co-op’s name and number into the footer of each page, so that you can fill out fewer fields.
  • W-2 salary data is also due on February 15. NRECA’s systems will be ready to receive W-2 data on January 1, 2023.
  • The resource guide includes a timeline, answers to frequently asked questions (FAQs), a preparation checklist, and detailed data requirements for your W-2 data.
  • 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 recorded by NRECA’s retirement compliance team. Additional FAQs are also posted. Retirement compliance staff explain how to gather and report your questionnaire and W-2 salary data. The recording and slides will be available throughout 2023 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.

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