Watch for the Restated Adoption Agreements this Week
Restated adoption agreements, effective July 1, 2017, for your cooperative’s NRECA-sponsored Retirement Security (RS) Plan and 401(k) Pension Plan will be released late this week. 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, 2017 is the deadline to return the signed agreements (and your board resolution adopting the restated plans) to NRECA. Go to the Employee Benefits website for detailed instructions and FAQs about how to review the documents and return them in good order. You can return the agreements and resolution either together or separately.
Take note of these tips so that your co-op stays on track to meet the October 31 due date:
- Download, review, sign, and return the adoption agreements. They reflect your co-op’s current provisions, including changes up to and including May 1, 2017. Your plan provisions have not changed as a result of the restatement.
- Do not modify or mark up your adoption agreements. Instead, contact the retirement compliance team at 866.673.2299, option 7, or compliance@nreca.coop if you have questions about the provisions reflected in them.
- Adopt the restated plans at your board’s next meeting, if you have not done so. If your co-op offers either the RS or 401(k) Plan, then your board must adopt the restated plans. The restatement is separate from (and in addition to) other plan provision changes you make during 2017.
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