Form 5500 Extensions Filed; Distribute Summary Annual Reports in November

2019 Summary Annual Reports (SARs) for the 401(k) Pension Plan and Group Benefits Program will be provided in November for further distribution to plan participants. At that time, NRECA will post the SARs on the Employee Benefits website and will publish an article in NRECA Employee Benefits Weekly with distribution instructions and deadlines.

SARs must be given to plan participants within 60 days after the Form 5500 returns are filed. Because NRECA filed extensions for both the 401(k) Pension Plan and the Group Benefits Program, the Form 5500 returns will be filed later than the regular due date. The SAR distribution period will begin once the Form 5500 returns have been filed.

Cooperatives will receive SARs for only the 401(k) Plan and the Group Benefits Program. The annual funding notice replaces the SAR for the Retirement Security Plan.

If you’ve loaded 2020 compliance reminders into your calendar application (e.g., Microsoft Outlook), disregard the September 30 SAR distribution reminder. The calendar also includes a second set of reminders on November 15 so that you can plan to distribute the SARs by the extended distribution deadline in mid-December.

If you have questions, contact the benefits compliance team at 866.673.2299, option 7.