NRECA’s sole purpose is to serve its member cooperatives. 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.
With a strong focus on service excellence, including access to leadership and openness to suggestions from individual co-ops on plan design, features and enhancements, NRECA offers exceptional advantages to co-ops that participate in its benefit programs. Because it is a not-for-profit entity, NRECA operates “at cost” and is able to keep administrative fees comparatively low. And because it specializes in the co-op community, NRECA brings a unique understanding of the needs of its co-ops.
The multiple-employer plan design pools resources and risk with approximately 900 co-ops around the country. Unlike single-employer or multiemployer plans, multiple-employer plans enjoy simplified and less volatile accounting rules. And because NRECA is the plan sponsor, it assumes much of the responsibility and most potential liabilities associated with the plans.
**Funding level is based on the expectation that all actuarial assumptions are met. CSEC funding ratio includes estimated contributions through Sept. 15, 2022; funding ratio excluding contribution receivables for 2022 is 82%.