Mid-Year Update to Single Cash Payment Interest Rate Assumptions Used in RS Plan Benefit Estimate Calculations for 2024 and Beyond

NRECA has completed the mid-year update to the interest rate assumptions used to estimate the value of single cash payments (also referred to as lump sums) on Retirement Security (RS) Plan estimates with dates in 2024 and beyond. Interest rates used for 2023 event date estimates will not be changing.

This annual mid-year rate update is performed to provide forward-looking benefit estimates that better reflect the current interest rate environment in order to aid participants who are evaluating their timeline for retirement. NRECA also updates the actual interest rates annually each December for calculations used to determine the coming year’s single cash payments.

Benefits administrators are now able to run RS Plan estimates on behalf of participants using the new estimated rate assumptions for benefit estimates dated for 2024 and beyond through the NRECA Employee Benefits website.

If you have any questions regarding this update, please contact your field representative or the Member Contact Center at 866.673.2299. Members of the Personal Investment & Retirement Consulting team are available to assist plan participants with their retirement planning and may also assist participants in obtaining updated RS Plan estimates.