Effective January 1, 2025, the 401(k) Pension Plan’s loan interest rate, which is set quarterly at 1% more than the nation’s prime interest rate, decreased to 8.5%. Things you and your employees should consider about loansIf your cooperative offers the[…]
Participants in the NRECA Group Benefits Program can now view their summary plan description (SPD) and summary of material modifications (SMM) documents on the Employee Benefits website. 401(k) Pension Plan and Retirement Security (RS) Plan SPDs and SMMs will be[…]
The Internal Revenue Service has released the interest rates used to determine calculations of Retirement Security (RS) Plan single cash payments in 2025. As a reminder, this year only, NRECA performed a “better-of” comparison of two sets of rates—September and[…]
Please mark your calendars to note NRECA’s schedule during the coming holidays. NRECA’s offices will be closed on the following days: On Tuesday, December 31, the Member Contact Center and the Personal Investment & Retirement Consulting team will be unavailable[…]
Do you have part-time employees who work at least 500 (but fewer than 1,000) hours during the year? If so, remember to check each person’s eligibility under the shortened two-year long-term, part-time eligibility rule. For 2024 plan entry dates, the[…]