In compliance with the 2023 Consolidated Appropriations Act, NRECA has completed the system updates that change the age individuals (who are no longer working) are required to take minimum distributions from their retirement accounts to age 73. Retirement plan participants[…]
If you’re thinking of amending your Retirement Security (RS) Plan or 401(k) Pension Plan early in 2024, contact your NRECA field representative now to start discussing the process and timing. For simple changes, contact NRECA at least 60 days before[…]
Effective October 1, 2023, the 401(k) Pension Plan’s loan interest rate, which is set quarterly at 1% more than the nation’s prime interest rate, will increase to 9.50%—a 0.25% increase from last quarter’s rate of 9.25%. Things you and your[…]
The new process for your participants who separate from their jobs or have other distributable events—involving additional support from the Personal Investment & Retirement Consulting (PIRC) team—launches today. As announced earlier this month, the new process involves expanded availability of[…]
Each year, NRECA invoices each participating cooperative directly for its 401(k) Pension Plan employer-paid expenses. To help co-ops plan for their 2024 expenses, an estimate of this expense is prepared for each co-op by subgroup. An email containing co-op-specific estimates[…]