401(k) Pension Plan: Annual Disclosure Notice Mailing

This week NRECA is mailing three important 401(k) Pension Plan notices. 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. Federal regulations require 401(k) plans to distribute disclosure notices to these individuals. Included in the mailing are the following:

1. Participant Fees Disclosure Statement providing general plan information, administrative and individual expense data, fund performance/variable return on investments as of December 31, 2016, and total investment fees and expenses;
2. Target Date Portfolio (TDP) Qualified Default Investment Alternative Notice informing participants who have not yet made active investment selections that their balance, a portion of their balance or ongoing contributions will default (or have been defaulted) into the TDP option(s) closest to the year of their target retirement, assuming a retirement date age of 65. The notice also provides a brief overview of the TDPs as well as instructions for directing their 401(k) Plan investment allocations and future contributions;
3. TDP Summary detailing objectives, asset allocation and fund expense ratios for each TDP as of 6/30/2017; and
4. 401(k) Pension Plan Investment Change Notice announcing upcoming changes to the plan’s investment line-up, effective December 1, 2017.

Ongoing Distribution
Once your co-op’s benefits administrator enrolls a new employee, that individual will receive copies of these notices in their 401(k) enrollment confirmation kits.

Copies of the annual disclosure notices are available on the Employee Benefits website under Education & Resources > Retirement Plan Documents. The change notice and detailed investment information including fund profiles and holdings along with the updated 401(k) Pension Plan Glossary of Investment Terms are also available on cooperative.com/401kinvestments.

If you have questions about these notices, please contact your field representative or NRECA’s Member Contact Center at 866.673.2299, or via email at contactcenter@nreca.coop. Representatives are available from 7 am to 7 pm, Central time. Co-op employees with questions about their investment strategy should contact NRECA’s Personal Investment & Retirement Consulting team at 866.673.2299, option 6 or via email at pirc@nreca.coop.