RS Plan 2015 Annual Funding Notice Mailing to Plan Participants This Week
NRECA will be mailing the required Retirement Security (RS) Plan 2015 Annual Funding Notice to participants and beneficiaries this week. The Pension Protection Act of 2006 requires NRECA to mail an annual funding notice to participants in and beneficiaries of the RS Plan by April 30. Encourage recipients to review the notice, but no other action is required of them.
Effective this year, there is a new requirement that all alternate payees (divorced spouses who have been assigned benefits under a Qualified Domestic Relations Order) who are entitled to a benefit from the RS Plan as of December 31, 2015, receive a copy of the annual funding notice, even if they are not currently receiving payments. As is the case with participants, no other action is required of them.
Provide notice and memo to labor union representatives
If your cooperative offers the RS Plan to employees represented by a labor organization, you must provide a copy of the annual funding notice to the organization’s representatives. To help you do this, a cover memo for labor organization representatives, explaining the funding notice, is provided. Print and send it to them. Save a copy of the disclosure to union representative for your records.
You can also view and print the notice and the associated documents:
- 2015 RS Plan Annual Funding Notice
- Memo for benefit administrators
- FAQ sheet for benefit administrators
- Sample notice to labor organization
- Memo for participants
- FAQ sheet for participants
If you or your employees have questions about the notice, contact the Member Contact Center at 866.673.2299 or contactcenter@nreca.coop.