Glenn English NRECA CEO WEB CONFERENCE SERIES SEPTEMBER 2, 2010 - PDF document

Glenn English NRECA CEO WEB CONFERENCE SERIES SEPTEMBER 2, 2010 1 2 Mary McLaury NRECA Vice President, Education & Train ing WEB CONFERENCE SERIES SEPTEMBER 2, 2010 3

Glenn English NRECA CEO WEB CONFERENCE SERIES SEPTEMBER 2, 2010 4 5 Scott Spencer NRECA Senior Vice President Insurance and Financial Services WEB CONFERENCE SERIES SEPTEMBER 2, 2010 6

401(k) Pension Plan New Administration Fee for Cooperatives Conversation With the Membership 9-2-2010 401(k) Admin Fee for Co-ops • An asset-based fee - designed to reimburse NRECA for a portion of the plan’s expenses. • Annual Calculation – Calculated based on asset values on July 1, of the previous year. For example, the fees billed in 2011 will be based on asset values as of July 1, 2010. • Billing Frequency – Quarterly for co-ops with annual fees over $5,000; annually for co-ops with annual amounts under $5,000. • Total Plan Costs Not Increasing – Co-ops and participants continue to benefit from NRECA’s low total cost. • Modest Impact – For example, if the asset-based fee were 18 basis points, labor costs would increase by 0.2% of pay (about 6 cents per hour on average). • Estimated Fees –NRECA is mailing an estimate of 2011 fees to each co-op today. 8 Join Us for the CEO Breakfast on the First Day