Participant Retirement SPDs and SMMs Now Online

Current summary plan description (SPD) and summary of material modifications (SMM) documents for participants’ 401(k) Pension Plan and Retirement Security (RS) Plan benefits are now posted to the Employee Benefits website. Documents for the NRECA Group Benefits Program were made available last month.

Participants can access their current SPDs and SMMs on the new Summary Plan Descriptions page. Documents are displayed by category (e.g., 401(k) Pension Plan, Retirement Security Plan and Medical), effective date and title. If an SPD or SMM is in review, it is tagged as “coming soon” until it is posted.

Distribution and Acknowledgement Still Required
You can use the Employee Benefits website to deliver your cooperative’s SPDs and SMMs electronically to participants eligible under the 2020 Electric Distribution Safe Harbor (for retirement documents only) or the 2002 Electronic Distribution Safe Harbor (for group and retirement documents). Please ensure you’ve reviewed the available electronic distribution safe harbor rules before choosing a distribution method.

Retirement SPDs and SMMs are due to participants no later than 210 days after the end of the plan year in which the SPD or SMM is effective. Group Benefit Program SPDs and SMMs must be distributed to participants and beneficiaries no later than March 1, 2025, and to new employees within 90 days of their new hire date.

The requirement and online process for acknowledging SPD and SMM distribution has not changed.

If you have questions, contact NRECA’s Benefits Compliance team at 866.673.2299, option 7, or at pension.compliance@nreca.coop (for retirement documents) or at group.compliance@nreca.coop (for group benefit documents).