2013 Summary Annual Reports Now Online

The 2013 Summary Annual Reports (SARs) for the NRECA Group Benefits Program and the NRECA 401(k) Pension Plan, along with the distribution instructions and acknowledgment, are now available on the Employee Benefits website.

The Employee Retirement Income Security Act (ERISA) requires that a summary, known as a SAR, of the annual Form 5500 be distributed to plan participants and beneficiaries. A SAR reviews the plan’s financial status.

Distribute by December 15, 2014
ERISA requires that copies of the reports be given to plan participants and beneficiaries by December 15, 2014. Noncompliance can result in penalties of up to $110 per day.

Give the 401(k) Plan SAR to active and disabled employees (including employees on a leave of absence) who are participating in or who have a benefit in the 401(k) Plan. Note that NRECA will mail copies to retirees, alternate payees and beneficiaries of deceased participants, separated participants with benefits and terminated-vested participants.

Provide the Group Benefits Program SAR to active and disabled employees (including employees on a leave of absence), retirees, retained attorneys, directors, COBRA beneficiaries and children covered under qualified medical child support orders who are participating in or who have a benefit in the group benefits program.

Electronic distribution
NRECA doesn’t provide paper copies for distribution. You may provide electronic copies to your participants by email. For instructions on electronic distribution and foreign language requirements, refer to the distribution instructions and acknowledgment.

Distribution acknowledgment required
To fulfill your compliance obligations, you must complete the distribution acknowledgment(s) found at the end of the instructions. Please return it to us after you have distributed your SARs.

For instructions on electronic distribution to participants and foreign language requirements, refer to the distribution instructions and acknowledgment.