Because the Retirement Security (RS) Plan—for financial reporting purposes only—is considered a multi-employer plan, participating cooperatives generally need to follow Accounting Standards Update (ASU) 2011-09 when preparing their annual financial statements. The NRECA fact sheet that details ASU 2011-09 financial disclosure requirements[…]
Effective January 1, 2025, the 401(k) Pension Plan’s loan interest rate, which is set quarterly at 1% more than the nation’s prime interest rate, decreased to 8.5%. Things you and your employees should consider about loansIf your cooperative offers the[…]
The Internal Revenue Service has released the interest rates used to determine calculations of Retirement Security (RS) Plan single cash payments in 2025. As a reminder, this year only, NRECA performed a “better-of” comparison of two sets of rates—September and[…]
Do you have part-time employees who work at least 500 (but fewer than 1,000) hours during the year? If so, remember to check each person’s eligibility under the shortened two-year long-term, part-time eligibility rule. For 2024 plan entry dates, the[…]
After the close of business on January 17, 2024, nondiscrimination test results from the 2023 plan year will be archived. If you have not done so already, download your cooperative’s 2023 test results to preserve them for your plan files.[…]