Reminder: Key Dates to Prepare for Retirement Plan Transaction Enhancements

As previously announced, the ACH authorization form used to update bank account information related to retirement plan transactions has been discontinued.

Beginning November 21, cooperatives will be able to update and manage multiple bank accounts on the NRECA Employee Benefits website. New features and functionality will provide a streamlined experience for transactions supporting retirement contribution and loan processing along with paying admin fee invoices.

From November 18-20, you will not be able to submit the following transactions as we finalize the enhancements: RS Plan Contributions, 401(k) Pension Plan Loan Repayments, 401(k) Pension Plan Contributions, 401(k) Employer Expense and Pay Insurance Invoice. Please make payments or contributions before November 18 or beginning November 21.

Remember, co-ops that have fraud filters for their online bank accounts are encouraged to add the ID number “2530116145” to their filter. This will allow retirement plan transactions to be processed using the new functionality without being flagged as potentially fraudulent activity. 

Questions?
If you have questions, contact the Member Contact Center at 866.673.2299. Representatives are available from 7 am to 7 pm Central time. You can also email the team at contactcenter@nreca.coop.