Last year, the sample qualified domestic relations order (QDRO) templates and procedures for the Retirement Security (RS) Plan were updated to reflect the cash balance benefit formula. Now, the 401(k) Pension Plan sample templates and procedures have been reformatted to[…]
There are valuable lessons in many of the songs we hear today, but what lessons can you learn about the money you earn? Join Brian Pace, an investment planner on the Personal Investment & Retirement Consulting (PIRC) team, as he[…]
As year-end approaches, help your employees plan for their final 2024 401(k) deferrals. Deferral planning helps participants to avoid exceeding the 2024 IRS §402(g) dollar limit. Pay special attention to employees who retire or terminate at the end of the[…]
NRECA processes scheduled payments from the 401(k) Pension Plan on the 22nd of each month, which allows participants to receive their payments by the first of the following month. To accommodate year-end holiday timing, NRECA will be processing scheduled December[…]
On November 1, 2024, the Internal Revenue Service (IRS) announced benefit and contribution limits for employer-sponsored retirement plans for the 2025 tax year. The following chart summarizes the 2025 limits, with 2024 limits included for comparison. This information is available[…]