As the new year begins, your cooperative may be relying more heavily on flexible staff such as independent contractors and part-time, temporary, seasonal, and leased workers. Remember that as of January 1, 2021, part-time employees gained another path to eligibility[…]
Because the Retirement Security (RS) Plan—for financial reporting purposes only—is considered a multiemployer plan, participating cooperatives generally need to follow Accounting Standards Update (ASU) 2011-09 when preparing their annual financial statements. The NRECA fact sheet that details ASU 2011-09 financial disclosure requirements[…]
The most recent lunch-and-learn webinar hosted by the Personal Investment & Retirement Consulting (PIRC) team, “Ask Me Anything – Part 2: A PIRC Planner Shares Answers to Your Most Frequently Asked Questions,” is now available on the NRECA Employee Benefits website. As[…]
The deadline to submit your cooperative’s 2021 compliance questionnaire and W-2 data is February 15, 2022. Your information is used to perform nondiscrimination testing for the NRECA retirement plans, as required by the Internal Revenue Service. Use the W-2 Salary[…]
The Internal Revenue Service has issued the interest rates used to calculate Retirement Security (RS) Plan lump sum cash payments in 2022. Different rates are used depending on when an employee earned benefits within the RS Plan. The GATT rate[…]