The Retirement Security (RS) Plan and 401(k) Pension Plan follow a five-year restatement schedule outlined by the IRS. Effective July 1, 2022, the plans will be restated according to this schedule. The purpose of the restatement is to update the[…]
Compliance annual reporting for the 2021 plan year is now underway. The due date to send your cooperative’s questionnaire and W-2 salary data is Tuesday, February 15. This information helps the benefits compliance team perform annual required nondiscrimination testing on[…]
Participants in the Retirement Security and 401(k) Pension Plans who received plan distributions were issued 2021 IRS Form 1099-R from NRECA for tax filing purposes. The 2021 Form 1099-Rs were mailed to participants late last week; however due to a[…]
NRECA can assist your tax-exempt cooperative in the annual preparation of Internal Revenue Service Form 990, Return of Organization Exempt from Income Tax. In particular, NRECA’s actuarial services team can calculate the change in actuarial value of Retirement Security (RS)[…]
To prepare for 2021 nondiscrimination testing, the benefits compliance team will archive 2020 plan year test results after 5:00 pm, Eastern time this Friday, January 21. If you haven’t done so already, retrieve your cooperative’s 2020 test results from the[…]