Watch for the Restated Adoption Agreements Next Week
Restated adoption agreements for your cooperative’s Retirement Security (RS) Plan and 401(k) Pension Plan will be released on approximately July 5. You will receive a Message Center notification when they are available for download on the Retirement Plan Documents page of the Employee Benefits website.
October 31, 2022, is the deadline to return both the signed agreements and your board resolution adopting the restated plans. Go to the Employee Benefits website for detailed instructions and FAQs about how to review the documents and return them in good order. Your adoption agreements and board resolution can be sent separately or together, depending on the timing of your board meeting and the best option for your co-op, as long as both documents reach NRECA no later than October 31.
- Your plan provisions have not changed as a result of the restatement. The new adoption agreements reflect your co-op’s most current plan provisions.
- Note that the adoption agreements must be signed but do not require your co-op’s corporate seal. Please add your co-op’s seal to the board resolution or check the box to indicate that no seal exists.
- Do not modify or mark up your adoption agreements. Instead, contact the retirement compliance team if you have questions about the provisions shown.
- Adopt the restated plans at your board’s next meeting, if you have not done so already. Ensure that your board resolution is dated on the same date or before the authorized signature date on your adoption agreements.
- A list of changes to the 2022 restated adoption agreements is posted on the Restatement page of the Employee Benefits website.
If you have questions about the restatement process that are not answered by the online instructions and FAQs, contact the retirement compliance team at 866.673.2299, option 7, or pension.compliance@nreca.coop