Send Compliance Reporting Data by February 15 – NRECA Employee Benefits Weekly

Wednesday, February 15 is the due date to send your cooperative’s 2023 retirement compliance questionnaire and W-2 salary data. NRECA’s benefits compliance team uses this data to perform annual required nondiscrimination testing on the 401(k) Pension Plan.

As you prepare your data, these resources are available on the Employee Benefits website:

The W-2 Salary Data & Retirement Compliance Questionnaire page of the BA Guide. Here you can find the Retirement Compliance Questionnaire and the Compliance Resource Guide.
On the same page is the File Formats for Contributions and Salary Information. This flier contains the layout you’ll need to format your W-2 salary data for import into NRECA’s system. Remember that if your payroll provider supplies an import file, they may have already added a field for FICA (Medicare) wages. NRECA can accept import files either with or without this field for 2023.
The recorded Compliance Annual Reporting webinar also provides step-by-step reporting instructions. FAQs and a copy of the webinar slides are available for download on this page.

When your questionnaire is ready, use the Message Center to send it securely to the benefits compliance team. Retain a full copy in your files in case NRECA needs to clarify your data.

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.