Holiday Timing for Processing 401(k) Withdrawals

NRECA runs all scheduled installment payments on the 22nd of each month, which allows individuals to receive their payment by the first of the following month.

To accommodate the holidays, NRECA this year will be processing scheduled 401(k) Pension Plan payments on December 16, 2015.

A flier is being included in all distribution option kits that advises of this holiday timing and encourages participants not to wait until the last minute to request a one-time withdrawal in 2015. The flier explains that NRECA must hold all distribution paperwork for seven days after the signature date. As a result, documents for all one-time distributions must meet good-order standards and have signature dates no later than December 17, 2015, in order to be processed on December 23, 2015—the last processing day for 2015.