Just Over Two Weeks Left to Request RS Plan Year-end Benefit Estimates

As communicated in August, the deadline for requesting 2019 benefit estimates (projections) from the Retirement Security (RS) Plan on the Employee Benefits website for cooperative employees who are eligible for full or quasi-retirement is Friday, October 25, 2019.

Benefits administrators should run 2019 estimates—and, for participants who want to compare results for more than one retirement date, 2020 estimates using assumed rates—on the Employee Benefits website no later than Friday, October 25, 2019. If the online estimate tool indicates that a special (manual) calculation is necessary, requests for 2019 and 2020 estimates should be submitted using the “special request” link on or before October 25, 2019. Please provide any special handling instructions in the comment section of the special request.

All special requests for manual calculations submitted by October 25 will be delivered to the person requesting them as they are completed, either on or before December 27, 2019.

NRECA has several resources to help you and your employees:

• 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 can also obtain personalized education from the Personal Investment & Retirement Consulting (PIRC) team. The PIRC team can be reached via email at pirc@nreca.coop or by phone at 866.673.2299, option 6.

Questions?
We are here to help you. 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.