In an effort to reduce administrative burdens on our member cooperatives, effective November 2022, qualified pre-survivor annuity (QPSA) notices previously sent to benefits administrators for distribution to impacted 401(k) Pension Plan and Retirement Security Plan participants, will now be directly[…]
On October 21, 2022, the Internal Revenue Service (IRS) announced benefit and contribution limits for employer-sponsored retirement plans for the 2023 tax year. We’ve summarized the 2023 limits, and included the 2022 limits for comparison, here as well as the[…]
NRECA is mailing important 401(k) Pension Plan notices the week of October 17, 2022. The notices are being sent to all cooperative employees, plan participants and beneficiaries who are eligible to make or change investment elections in the 401(k) Plan.[…]
As the effects of COVID-19 continue to impact communities around the globe and within the United States, the Public Health Emergency associated with the pandemic has been extended through January 10, 2023. This extension means certain benefit plan flexibilities and[…]
NRECA is sending a letter on October 24 to NRECA Medical Plan participants in the non-high-deductible health plan (or “PPO plan”) who are currently prescribed specialty drugs, to inform them of changes to specialty drug costs coming in 2023. Beginning[…]