NRECA Employee Benefits Weekly

401(k) Pension Plan: Disclosure Notice Mailing

Posted on Posted in Retirement Benefits

During the week of November 14, NRECA is mailing two important 401(k) Pension Plan notices. This mailing will be delivered 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 Annual Disclosure Statement which provides general plan information, administrative and individual expense data, fund performance on investments as of December 31, 2015, and total investment fees and expenses;
  2. Qualified Default Investment Alternative Notice informing plan participants that individuals who have not yet made active investment selections will have their balance, a portion of their balance or ongoing contributions default (or have been defaulted) into the Target Date Portfolio(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 Target Date Portfolios as well as instructions for directing 401(k) Plan investment allocations and future contributions; and
  3. Target Date Portfolios Overview, which details objectives, asset allocation and fund expense ratios for each Target Date Portfolio as of September 30, 2016.

Ongoing Distribution
Newly eligible participants receive copies of these notices in their 401(k) Plan enrollment confirmation kits. These kits mail to an employee’s home once their information is entered in NRECA systems by the co-op’s benefits administrator.

Copies of these documents can be viewed or downloaded on Cooperative.com > My Benefits > Document Library > Documents for Employees > Retirement Plan Documents. 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 local 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.

Scroll to top