Check 401(k) Pay Dates During December and January

Before submitting 401(k) Pension Plan contributions for your cooperative’s payrolls in late 2021 and early 2022, remember to compare the pay date shown in NRECA’s system to the one in your payroll system. Usually the dates will match, but if they don’t, adjust the pay date in NRECA’s system to match the pay date in your payroll system. 

Here are two examples:

1. If your paychecks are dated December 31, 2021, then the pay date in NRECA’s system should be December 31, 2021, regardless of the pay period end date. Ensure this is the case.
2. If your pay period end date is December 31, 2021 but the paychecks are dated January 3, 2022, look at the pay date shown in NRECA’s system. If it shows something other than January 3, change NRECA’s pay date to January 3, 2022 before submitting the contributions. Contributions from paychecks dated on or after January 1, 2022 are for 2022.

If you have questions about this topic, call the benefits compliance team at 866.673.2299, option 7 or email us at pension.compliance@nreca.coop.