Remember the October 31 Retirement Plan Restatement Deadline

The October 31 deadline to return your cooperative’s Retirement Security (RS) Plan and 401(k) Pension Plan restatement documents is only a month away.

If you have already returned your documents, thank you for your assistance. Your co-op’s benefits administrator (BA) will receive a Message Center notification once your restatement documents are received in good order, countersigned and scanned, and are available on the Employee Benefits website. The CEO at your co-op will also receive an email confirmation when the restatement process is complete.

This week, NRECA staff will begin placing calls to BAs at co-ops for which our records indicate outstanding or partially complete restatement paperwork. Additionally, an email will be sent on Friday, September 29. These communications are intended to share and document (in our records) your co-op’s current restatement status and answer any restatement questions you may still have. When completing the restatement process, remember:

• The restatements require both a board resolution adopting the restated plans and signed adoption agreement(s);
• Send original adoption agreement(s) and board resolution; and
• Future changes to your co-op’s RS or 401(k) Plan provisions cannot be approved until the restatement process is complete.

If you find that our records differ from yours or if you have questions about the status of your restatements, contact the retirement compliance team for assistance at 866.673.2299, option 7, or pension.compliance@nreca.coop.