NRECA Employee Benefits Weekly

Compliance Annual Reporting: Reminder and Resources

Posted on Posted in Compliance, Retirement Benefits

Your cooperative’s 2017 compliance questionnaire and W-2 salary data are due on February 15, 2018. This deadline allows the benefits compliance team to finish nondiscrimination testing for your co-op’s NRECA-sponsored retirement plans in time to avoid possible tax penalties.

Have questions as you gather your data? Here are some resources to help.

  • Visit the W-2 Salary Data & Retirement Compliance Questionnaire page of the Employee Benefits website. There, you’ll find links to the questionnaire and the annual reporting Resource Guide.
  • The Compliance Annual Reporting Resource Guide provides comprehensive information about all aspects of annual reporting. The guide includes FAQs, eligibility information, and details about what should be included in each data field for W-2 salary data. A list of additional articles and online resources to help with reporting is listed on the last page of the Resource Guide.
  • If you have eligibility questions, start with Retirement Plan Eligibility: Back to Basics. This helpful flier includes definitions, examples and tips like where to find your elections, how to count hours of eligibility service and how to handle eligibility for rehired employees.
  • If you haven’t done so already, reconcile your co-op’s 401(k) plan contributions to NRECA’s records. Complete this before sending your questionnaire and W-2 data. Instructions and tips for this task are in the Winter Benefits Bulletin.
  • For timely compliance reporting tips and examples given directly by the retirement compliance staff, view and listen to the 2017 Compliance Annual Reporting webinar, held on December 13, 2017. You can also download the presentation slides and review the frequently asked questions.
  • Upload your W-2 data to NRECA’s systems (or enter it manually). Use the upload file format on the W-2 Salary Data & Retirement Compliance Questionnaire page.
  • Send your questionnaire and supporting appendices (as applicable) securely to benefits compliance using the Message Center.

If you have questions about annual reporting that are unique to your co-op, call the benefits compliance team at 866.673.2299, option 7. You also can email us at pension.compliance@nreca.coop.

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