Don’t Forget to Request RS Plan Year-end Benefit Estimates
November 2 is the deadline for running requests involving 2018 and 2019 benefits estimates (projections) for retirement-eligible employees considering retirement and quasi-retirement in 2018 or 2019. If the estimate tool on the Employee Benefits website indicates that a special (manual) calculation is necessary, those requests should be submitted using the “Special Request” link no later than November 2. Note that you may receive a “Special Calculation” or “Calculation Error” message notification within the estimate tool. If you receive one of these messages, you will need to submit a Special Request in order to process the requested benefit estimate.
All special requests for manual calculations submitted by November 2 will be delivered to the person requesting them as they are completed, either on or before December 28, 2018.
Except for participants with a birthday in January or February 2019, manual calculation requests for both 2018 and 2019 will be limited to two calculations. Estimate requests for 2018 and 2019 will have priority over other future retirement or quasi-retirement estimates beyond 2019.
Resources for your employees
To help you with employee discussions, NRECA has developed two resources:
- A sample email template that you can use with retirement-eligible employees;
- A flier, Answers You Need: Weighing Your RS Plan Payment Options, which can help participants evaluate their RS Plan benefit options.
RS Plan participants also have access to the Personal Investment & Retirement Consulting (PIRC) team. A PIRC team member can provide personalized education to co-op employees and can be reached via email at pirc@nreca.coop or by phone at 866.673.2299, option 6.
Questions
Please contact your field representative for specific questions or concerns. Representatives in NRECA’s Member Contact Center are available Monday through Friday, 7 am – 7 pm, Central time at 866.673.2299 or via email at contactcenter@nreca.coop.