Webinar Will Explain the Enhanced Retirement and Termination Experience
To help your employees with the distribution decisions they face when retiring or separating from service in the Retirement Security (RS) Plan and 401(k) Pension Plan, NRECA is increasing its support for these participants starting September 27.
An enhanced retirement and termination experience will expand the services offered by the Personal Investment & Retirement Consulting (PIRC) team. While PIRC’s core mission remains the same—providing investment and retirement planning education to RS Plan and 401(k) Plan participants—part of the PIRC team will now be dedicated to helping participants, alternate payees and beneficiaries with distribution questions and completing their retirement plan distribution option forms, during the extended hours of 7 am to 7 pm, Central time.
A webinar on September 21 at 1 pm, Central time, will be hosted by Beth Napper, Investment & Retirement Services, and Molly Jasa, Retirement Plan Distributions. Beth and Molly will provide an overview of these changes and how they affect the retirement/separation process for your employees and your co-op. You can register for the webinar here.
The expanded service means:
- Educational brochures will be sent to participants who initiate a separation event or retirement. These materials will help RS Plan and 401(k) Plan participants weigh their options and gauge when they might need PIRC’s help.
- Option forms will be sent directly to plan participants; they will no longer be mailed to benefits administrators by default. Payees or their benefits administrator can request that the forms be sent to the co-op instead or in addition to being sent to the payee. The forms will include a note explaining that PIRC is available for one-on-one assistance in completing them.
- Participants can choose paper or electronic delivery for their option forms (and brochures). They can make this choice and update email or mailing addresses on the Employee Benefits website, under Preferences. If no election is made, the default will be to mail to the address NRECA has on record.
- Participants can choose to receive an email notification at any, or every, step in the distribution process.
- Benefits administrators can choose their level of awareness of when option forms are sent. If you wish, you can receive or opt out of a Message Center alert informing you when option forms have been sent to your participant.
Please send in advance any questions you have for the webinar presenters to EmployeeBenefits@nreca.coop.