NRECA Employee Benefits Weekly

Send Compliance Reporting Data by February 14

Posted on Posted in Retirement Benefits

Friday, February 14 is the due date to send your cooperative’s 2024 compliance annual reporting data. As you prepare your data, the following resources are available on the Employee Benefits website for your convenience.

The retirement compliance questionnaire and resource guide are your main reporting tools. The resource guide has detailed instructions about what to include in your questionnaire.

  • NEW FOR 2024: Use Appendix A in the questionnaire to report any long-term, part-time (LTPT) employees who began participating in your 401(k) Pension Plan during 2024. Co-ops with no LTPT employees can skip Appendix A.
  • TIP: Only pages 1-13 of the questionnaire need to be submitted; the remaining pages are instructions.

Use the import layout to build your W-2 salary data file. Use the W-2 Salary Submissions page of the Employee Benefits website to manually key your data or to import a data file.

  • TIP: FICA compensation remains optional for 2024 reporting. Starting in 2025, FICA compensation will be a required field regardless of whether you key your data or import a file.

Send your questionnaire (attach a scan or a copy of your completed PDF document) using the secure Message Center on the Employee Benefits website. Retain a full copy in your files in case NRECA needs to clarify your data.

Other resources

  • The Nondiscrimination Testing page explains which retirement plans are subject to each test and which tests must be performed. Start with this page to find out how changing plan provisions can affect your testing, how refunds or corrections work, and when test results will be available.
  • The 401(k) Plan Reconciliation Tasks page explains how to ensure that your contributions and data used in testing are both accurate. Performing reconciliations and making true-up contributions reduces data corrections and testing delays.
  • The compliance annual reporting webinar explains the reporting process and describes what’s new in this year’s questionnaire. You can also download the frequently asked questions document, presentation slides, resource guide, and questionnaire in one location.
  • The Rules & Eligibility pages have answers to eligibility questions that may arise as you report your data. Contact NRECA’s Benefits Compliance team if you have eligibility questions that are not answered on these pages.

If you need help finding these resources online, call the Member Contact Center at 866.673.2299 or contactcenter@nreca.coop.

For help with completing your questionnaire or W-2 salary submission, including co-op-specific questions about what data to report, contact the benefits compliance team at 866.673.2299, option 7, or pension.compliance@nreca.coop.

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