What insurance is Nreca?
NRECA offers both a Dental PPO Plan through the Connection Dental PPO and a VSP Vision Plan for employees and their dependents. NRECA provides employees automatic coverage of 2× salary for Basic Life and Accidental Death & Dismemberment (AD&D) insurances and 3× salary for Business Travel Accident insurance.
What does quasi retirement mean?
1 Quasi-retirement is a special feature in the RS Plan that gives participants access to their benefit at NRD even though they continue working.
What is meant by cooperative business?
A cooperative (also known as co-operative, co-op, or coop) is “an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned enterprise”. businesses owned and managed by the people who use their services (a consumer cooperative)
Do co ops get 401k?
The plan at a glance Since 1995, we have been the leading 401(k) program for cooperatives. The plan is cost-effective – most cooperatives save money in administration costs when switching to the Co-op 401(k) Plan. The plan is completely fee-transparent.
Are 401ks liquid assets?
A 401(k) retirement account is considered liquid once you have reached retirement age. You can withdraw cash after retirement age without facing any IRS early withdrawal penalties.
How can NRECA help cooperatives?
Beyond offering plans, NRECA helps cooperatives select the right products to suit their needs, gives benefits administrators the tools they need to manage these programs and empowers employees with the information they need to make the most of their benefits.
What is NRECA’s multiple employer benefit program?
As part of that mission, NRECA has been providing relevant, comprehensive and cost-effective multiple-employer benefit programs to rural electric co-ops for over 70 years. These programs directly support co-op efforts to attract, retain and ultimately reward the skilled workforce that is critical to achieving their missions.
What is an Electric Co-op?
Electric cooperatives electrified rural America 75 years ago. Today, we are providing a path toward a more diverse and sustainable future, including the energy for electrifying vehicles and other elements of our modern infrastructure.
How can I find out more about NRECA?
Visit the Value of Membership section to explore what NRECA does for and on behalf of member co-ops, including links to valuable resources. Visit NRECA’s public website, Electric.coop, to learn about NRECA, its history and how NRECA members are enriching their communities.