A new 401(k) Pension Plan hardship withdrawal form is now available online. The updated form reflects new rules under the SECURE 2.0 Act that permit participants to self-certify that their requested hardship falls under one of the seven permissible “safe harbor” categories defined by the Internal Revenue Service[…]
Retirement Security (RS) Plan benefits paid as a single cash payment are variable year over year, with interest rates playing a large part in determining the value of a participant’s final benefit paid in that manner. Typically, RS Plan benefits[…]
NRECA’s offices will be closed Thursday, November 23, and Friday, November 24, in observance of Thanksgiving. And because of the Thanksgiving holiday, there will be no issue of NRECA Employee Benefits Weekly next week. The next issue will be on[…]
The last day to submit 2024 billing frequency changes is December 1, 2023. Changes will take effect on January 1, 2024. If you want to keep your current billing frequency, no action is needed. To change the billing frequency for[…]
Beginning December 1, 2023, the prior authorization review process for prescription weight-loss drugs will transition from Cooperative Benefit Administrators (CBA) to CVS Caremark™, NRECA’s pharmacy benefit manager. As a result, starting November 27, CVS Caremark will send a letter to[…]