Website Enhanced to Facilitate Processing Final Employee Contributions

NRECA has made changes to the contribution event on the Employee Benefits website that will make it easier for you to process 401(k) contributions and loan repayments for terminated employees.

Instead of having to process these manually, you will now see a separated participant’s name on the 401(k) contribution and loan repayment files for up to six weeks after the termination date (or until the participant is paid out).  

To take advantage of this feature, you should enter the date that the last contribution will be submitted in the final contribution date field in the separation event. NRECA’s Retirement Plan Distribution team will then know to look for that final contribution to appear in the 401(k) account approximately two to three days after you submit it.

If you have questions, contact the Member Contact Center at 866.673.2299 or contactcenter@nreca.coop.