NRECA Employee Benefits Weekly

Return Retirement Plan SMM Acknowledgements by August 1, 2014

Posted on Posted in Retirement Benefits

July 28 was the deadline for co-ops to distribute the summaries of material modifications for the Retirement Security (RS) Plan and the 401(k) Pension Plan. These SMMs explain the Individual Cost-of-Living Adjustment (iCOLA) distribution feature and the 2050 Target Date Portfolio fund investment option that were added to the plans in 2013.

After you have distributed the SMMs, don’t forget to fill out and return the distribution acknowledgement form by August 1, 2014.

Special Reminders

  • If you haven’t distributed the SMMs, download, customize, and distribute them right away. Electronic distribution guidelines are posted in the BA Assistant section of the Employee Benefits website.
  • Remember to give a copy of the SMM to newly eligible participants along with their SPD. The changes described in the SMM will be incorporated into your plan’s SPD the next time it is revised.
  • Fax the acknowledgement to the benefits compliance team at 703.904.6409 or email it to pension.compliance@nreca.coop by August 1, 2014.

Questions
If you have questions about the SMMs or about the distribution process, contact the NRECA benefits compliance team at 1.866.673.2299, option 7, or pension.compliance@nreca.coop.

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