5500 Filing Extension Granted; SAR Distribution Requirement Extended

Summary Annual Reports (SARs) for the 401(k) Pension Plan and Group Benefits Program will be available for distribution in early November 2014. Note that SARs are required to be distributed within 60 days after the filing of each plan’s Form 5500 return. Since an extension was filed for both the 401(k) Pension Plan and the Group Benefits Program, the SARs are not required to be distributed until the Form 5500 returns have been submitted. Upon submission of the annual returns, NRECA will post the SARs on the Employee Benefits website and publish an I&FS Weekly article summarizing the SAR distribution process with instructions on the distribution deadline date.

If you’ve downloaded the annual Compliance Calendar, please disregard the first SAR distribution deadline of September 30, 2014 as extensions have been filed for all NRECA annual returns. The calendar includes a second reminder for the extended distribution deadline so that you can begin preparing to distribute the SAR in late November. Remember, the SARs are only for the 401(k) Plan and Group Benefits Program. The annual funding notice generated for the Retirement Security Plan has replaced the need for a SAR for that plan.

If you have questions, contact the Member Contact Center at 866.673.2299, option 7, or contactcenter@nreca.coop. Ask for the benefits compliance team.