RS Plan True-up Detail Report Being Sent to Co-ops

Cooperatives participating in the Retirement Security (RS) Plan received invoices during October through December that contained estimated results of the RS Plan true-up calculation. The true-up process is intended to reconcile such items as the addition or deletion of individual participants and the associated increase or decrease in the co-op’s contributions during the eight-month accelerated billing cycle.

Co-ops that did not experience a split or merger in 2015 and follow the “base salary” definition for the plan will receive the final result of the true-up calculation as well as a line-item for each of the co-op’s sub-groups in the March 2016 invoice. New for 2016, benefits administrators at these co-ops who have a credit (or owe an additional amount) as a result of the final true-up calculation, will receive an email with an attached report that contains details on the final result calculation. Co-ops that do not have a credit or debit will not receive a detail report. This email will be sent during the week of February 22, 2016, separate from the RS Plan invoice.

If you have any questions on the true-up calculation or report, please contact a member of NRECA’s Employee Benefit Services team at 866.673.2299 or your NRECA field representative.