2016 401(k) Safe Harbor Notices Due – NRECA Employee Benefits Weekly

If your cooperative participates in the NRECA-sponsored 401(k) Pension Plan with the Safe Harbor provision, you should have already received and distributed your 2017 Safe Harbor notice. This notice outlines the provisions of your 401(k) plan so that employees can make educated decisions about participation.

If you haven’t already, give the notice to 401(k) Plan participants right away. The distribution deadline is today, November 30, 2016. Also, during 2017, give the notice to new employees no sooner than 90 days before (but not after) the date the employee becomes eligible to participate in the plan.

You must also acknowledge distribution. Download the notice and fill out the online acknowledgement form in the same location on the Retirement Plan Documents page on the Employee Benefits website.

If you have questions about the Safe Harbor mailing or about your current 401(k) Plan design and the Safe Harbor provision, contact the benefits compliance team at 866.673.2299, option 7, or pension.compliance@nreca.coop.