Participants Will Need a Verified Mobile Phone Number for 401(k) Transactions

As a reminder, NRECA is prompting all users of cooperative.com and the Employee Benefits website to confirm or update their mobile phone numbers, and benefit plan participants will be asked to consent to the use of this phone number for benefits communications and transactions and verify the number via text message.

After the September 8 effective date for the 401(k) Pension Plan’s administration transition, 401(k) Pension Plan participants will be prompted to use this verified mobile number as part of two-factor authentication when conducting 401(k) account transactions online. Participants who do not have or are not willing to provide a verified mobile phone number will be able to unable to execute 401(k) account transactions through the NRECA Employee Benefits website.

Additionally, only the participant themselves can provide or update a mobile phone number online; benefits administrators are no longer able to update mobile numbers on behalf of benefit plan participants.

Alternative for those without verified numbers
Participants without a verified mobile phone number may call the NRECA Retirement Benefits Voice Line at 866.673.2299 (option 5, then 1) to order a personal identification number (PIN) sent to them by mail. This PIN will allow them to complete these transactions through the voice line.

Resources to help your employees
NRECA has alerted plan participants in various channels to check, update and verify their mobile phone information online. You can adapt this sample message in your co-op’s communication channels to help spread the word and encourage employees to take this easy but important step. If you, or your co-op’s employees, have any questions – please reach out to the Member Contact Center at 866.673.2299. Representatives are available Monday through Friday from 7 a.m. to 7 p.m. Central time.