Your cooperative’s 2024 group summary plan description (SPD) and summary of material modifications (SMM) documents will be released to the Employee Benefits website starting December 12, 2023. Give the documents to current participants and beneficiaries no later than March 1, 2024,[…]
A new 401(k) Pension Plan hardship withdrawal form is now available online. The updated form reflects new rules under the SECURE 2.0 Act that permit participants to self-certify that their requested hardship falls under one of the seven permissible “safe harbor” categories defined by the Internal Revenue Service[…]
If your cooperative offers group term life insurance that exceeds $50,000, you must report imputed income on employees’ W-2 forms. Co-ops that do not receive this service from their payroll provider or other vendor may use resources on the Employee[…]
2022 summary annual reports (SARs) for the NRECA Group Benefits Program and the 401(k) Pension Plan are now available on the Employee Benefits website. Give the SAR to participants in your cooperative’s plan(s) no later than December 15, 2023. Form[…]
November 1 is the deadline to give 2024 summary of benefits and coverage (SBC) documents to plan participants and beneficiaries. SBCs were released in September for distribution with your annual enrollment materials or by November 1, if earlier. If you[…]