Retirement Security (RS) Plan benefits paid as a single cash payment are variable year over year, with interest rates playing a large part in determining the value of a participant’s final benefit paid in that manner. Typically, RS Plan benefits[…]
If your employees are planning to retire or moving on to pursue their next big adventure, there are some things they should consider. Thinking about their state of readiness, taking money out of their retirement accounts and other deliberate planning[…]
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[…]
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, 2023, the Internal Revenue Service (IRS) announced benefit and contribution limits for employer-sponsored retirement plans for the 2024 tax year. The following chart summarizes the 2024 limits, with 2023 limits included for comparison. This information is available[…]