NRECA is mailing important 401(k) Pension Plan notices the week of October 16, 2023. The notices are being sent to all cooperative employees, plan participants and beneficiaries who are eligible to make or change investment elections in the 401(k) Plan.[…]
Now that the fourth quarter of 2023 is underway, remember to help your employees plan for their final 2023 401(k) deferrals to ensure that they do not exceed the IRS §402(g) dollar limit. Pay special attention to employees who retire[…]
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[…]