Benefits/Financial: Employees working 20 or more hours per week are offered a 401(k) plan with employer match and a defined-benefit plan. All new hires and all employees are automatically enrolled in the 401(k) plan, employees age 50 and over can make catch-up contributions to their plan, and employees may choose to invest in lifecycle funds that automatically re-allocate assets based on age or proximity to retirement.
Employees are offered financial education via staff members and from the staff of the financial services firm that administers their savings plan.
NRECA has a Personal Investments Retirement Consulting service (PIRC) that offers employees free one-on-one financial planning advice from certified professionals. This program provides services including retirement planning, review of investment options, asset allocation, 401(k) pension plan descriptions and statement review, IRA funding and withdrawal options, and retirement plan distribution options.
NRECA offers numerous provisions to allow for caregiving including paid time off, short- and long-term leaves of absence without pay, and 'Extended Illness Leave,' which offers up to 31 days off annually to full-time employees and 15 days off annually to part-time employees.
Full- and part-time employees are offered flu shots, health screenings, health risk appraisals, smoking cessation programs, health club discounts, physical activity and weight loss programs, self-defense and CPR training, as well as stress management training.
NRECA offers on-site child care for children of employees and for grandchildren of employees with responsibility for grandchildren, as well as referral services to assist with child care, grandchild care, and eldercare to employees working 20 or more hours per week.
Benefits/Alternative Work Arrangements: The following alternative work arrangements are offered to employees working at least 20 hours per week: flex time, compressed work schedules, telecommuting and a formal phased retirement program.
The phased retirement program gives employees age 62 and over the option to 'quasi-retire' with full pension benefits. Full-time employees are eligible to move to part-time work on a permanent or temporary basis.
Opportunities for Retirees: NRECA has 175 retirees and an individual directly responsible for retiree relations. The association stays connected to its retirees by communicating with them on a regular basis, by inviting retirees to organization events, by providing ongoing access to retirement planning workshops and information, and by formally acknowledging retirees when they retire. Retirees are offered the following work opportunities: temporary work assignments, consulting or contract work, telecommuting, full-time work and part-time work.
Age of Workforce: Thirty-eight percent of NRECA employees are age 50 and over. The average tenure of those employees is 14.8 years.
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