On July 1, 2022, the cash balance benefit formula was added as an option within the Retirement Security (RS) Plan. The sample qualified domestic relations order (QDRO) templates and procedures have now been updated to reflect the new formula. BAs[…]
NRECA has completed the mid-year update to the interest rate assumptions used to estimate the value of single cash payments (also referred to as lump sums) on Retirement Security (RS) Plan estimates with dates in 2024 and beyond. Interest rates[…]
The 2023 Consolidated Appropriations Act included provisions, known as SECURE 2.0, that have impacts to retirement plans. The passage of this legislation provides limited relief for the impact of limitations on benefits payable from a tax-qualified pension plan like the[…]
CEOs and primary benefits administrators should look for their cooperative’s Retirement Security (RS) Plan contribution (billing) rates for 2024 to arrive by email on August 11. The new rates will apply for the plan year beginning January 1, 2024. As[…]
As announced here on May 17, the 401(k) Pension Plan’s self-directed brokerage account (SDBA) feature will transition to Charles Schwab beginning on September 1, 2023, due to Schwab’s acquisition of TD Ameritrade. The transition of existing brokerage accounts to Schwab’s[…]