Bargaining Unit

If you have bargaining unit employees who are working under a Collective Bargaining Agreement that provides for the NEFP, those employees are eligible to participate in the NEFP. Their participation is optional.

In order for a bargaining unit employee to participate in the NEFP, they must first enroll in the Plan at www.nefp.org. They will set up an account by creating a username and password. During the enrollment process, the employee will pick how much they would like to have withheld from the paycheck. In doing this, they will need to print two copies of the Deferral Rate Notification form, in which they will keep one for their records and provide your payroll department the other. This form must be submitted to your payroll department before their NEFP payroll deferral can begin. Also, each time they change their deferral or move to a different participating employer, they will again be required to print the form and deliver it to their employer.

If you have bargaining unit employees working under a collective bargaining agreement that provides for the NEFP, a Participation Agreement is not needed in order for your bargaining unit employees to participate in the NEFP.

Non-Bargaining Unit Employees

To offer the NEFP to your non-bargaining unit employees, you will first need to sign an “All” Participation Agreement and complete an information schedule on each of your non-bargaining unit employees. While employee participation is not mandatory, under an “All” Agreement, you must allow all non-bargaining employees the opportunity to participate.

In signing the Participation Agreement, you must make an election as to the type of eligibility option you want to apply to your non-bargaining unit employees. It is important to note that the eligibility option you elect will apply to each and every non-bargaining unit employee covered under the Participation Agreement, although one option treats salaried and hourly employees differently. The two available eligibility options are described in more detail in the Participation Agreement.

Next, as an employer covering your non-bargaining unit employees, you can elect, but are not required, to match their contributions or offer profit-sharing employer contributions. There are nine different employer contribution options available and these options are described in the Participation Agreement. You will need to select the contribution option that you wish to offer to your employees. Please note that employer matching and discretionary contributions are only available for non-bargaining unit employees.

Should you decide to offer NEFP to your non-bargaining unit employees, you can download a Participation Agreement. Please return the signed Participation Agreement and the non-bargaining employee information schedule to the NEFP office. Once you have returned the signed Participation Agreement, each of your non-bargaining unit employees will receive a welcome packet with important benefit information on the NEFP. Just like your bargaining unit employees, your non-bargaining unit employees can enroll online at www.nefp.org. Please note that when they enroll, they will be required to print a copy of their Deferral Rate Notification form and deliver it to you before their participation can begin. Also, each time they change their deferral or move to a different participating employer, they will again be required to print the form and deliver it to their employer.