You must have FIRST created a “Secret Question and Answer” on the website AND have entered your email address online. Then if you forget any login information, you will be asked the secret question you created, and if answered correctly your login information will be emailed to the address listed within your account.

You can import transactional data from your retirement plan account into your Financial Software.   To do this login to your account online and click on “Transactions”, from the top menu, then click on “Transaction History”.  Historical data on your plan from the date MVP began administering the plan will be available. Although the Valid Date Range states 1984 to current year, the data will only be available from the date assets were first held in the plan.

Enter a start date, again it can be before we began administering the plan, but the data that extracts will be from the first transaction we have on record.  Then click “Update”.  Once the data populates the screen, then click the Excel symbol in the upper right hand corner of the screen.  You will be given the option to save the file or open it.  Save the file to your computer, and then when opened you will see the data is in a format that can be imported into most financial software.

Yes. View the Enrollment Presentation for an overview of the website features.

There are several ways to obtain more information about the funds in your plan:

• You can click on investments once you login to your account online. Various sections of the website have links to investment websites like Morningstar, to the investment’s fund prospectus or to performance data.
• If your plan has an individual investment advisor – often listed in the “Contact” section after you login to your account, contact them. You may also ask your employer for the advisor’s contact information.

Changes to your investment elections will take effect as soon as you make them. If you make an investment election through The Sensible 401k™ Plan website, be sure you receive a confirmation number of the transaction. Without a confirmation number, the transfer may not have occurred.

You may change your investment elections as often as you like.

Transfers made before 3pm each business day will be requested the same day. However, some investments have 2 and sometimes more settlement dates, so it may take several days for the transfer to fully execute. If you make a transfer through The Sensible 401k™ Plan website, be sure you receive a confirmation number of the transaction. Without a confirmation number, the transfer did not occur.

You can make investment transfers as often as you like although some investments may have trading restrictions, redemption fees, or other limitations. You can contact the plan’s investment advisor for more information or the website may provide more information as well.

A daily valued plan is updated each business day before 9am with the investment prices from the close of business from the day before.

The default login information to access your account is your Social Security Number (without dashes) as your USER ID and the last 4 digits of your social security number as your PASSWORD. If this does not work, you may be locked out of the website for too many failed attempts. Please contact MVP Plan Administrators, Inc.

An in-service withdrawal is a distribution that can be taken from the plan while still employed by your employer if the plan allows. The in-service withdrawal option must be allowed in the plan document in order for a participant to receive a distribution. Generally, if the option for in-service withdrawal is available in your plan, there are restrictions as to who would qualify. Typically, in-service withdrawals are allowed for participants who are at least age 59½ and worked for their employer for a specified number of years. Please read your SPD to find out if in-service withdrawals are allowed in your plan and if you qualify.

A hardship withdrawal is a distribution that can be given from a retirement plan if you have no other means to accommodate a financial hardship. In order to be eligible for a hardship withdrawal, your plan must first allow for hardship withdrawals. See your SPD to see if your plan allows for hardship withdrawals. Also, if your plan allows for loans in your retirement plan, you must take the loan first before you can qualify for a hardship withdrawal. Lastly, you must meet one of the following criteria to be considered for a hardship withdrawal:

• To purchase your primary residence
• To prevent eviction or foreclosure from your primary residence
• To pay un-reimbursed medical expenses for you, your spouse, or dependent
• To pay for tuition for the next 12 months of post-secondary education for you, your spouse, or dependent
• To pay funeral expenses for your spouse or dependent

You have to complete a Distribution Form and be able to attach documentation to support your reason and amount for a financial hardship.

In some divorce cases, the court will award a part or all of your vested account balance to your ex-spouse. If this happens, the court order must meet the conditions of a Qualified Domestic Relations Order (QDRO). A QDRO details the benefits the ex-spouse will receive from your retirement account. Any amount your ex-spouse receives as a result of a QDRO is taxable to your ex-spouse, not to you.

Generally, you will be eligible to take a distribution from your retirement plan. The plan has specific language as to whom qualifies as “disabled” for plan purposes. If you meet the criteria, then you may be eligible to receive a distribution of your vested account balance. Please read your SPD if your situation meets your plan’s criteria. Distribution Forms are also available online under the “Participant Forms” section of the website.

If you are the spouse of the deceased participant, you can either roll over the distribution into another qualified plan or IRA without tax consequence or you can elect to receive the distribution in cash. Distribution Forms are also available online under the “Participant Forms” section of the website.

Generally, if you die and if you are not already 100% vested in your plan, it will become 100% vested at the time of your death and will be paid to the beneficiary you designate. If you do not designate a beneficiary, the plan will pay your distribution to your spouse, children or estate. Please be certain that your employer has a recent beneficiary form for you in their records or you have updated your beneficiary information online. If your marital status changes, be sure to update your beneficiary form. Beneficiaries can be updated online once you login to your account or you may complete a paper form. Paper forms are also available online under the “Participant Forms” section of the website.

MVP Plan Administrators, Inc. does not hold the assets of your plan. Once we receive a completed Distribution Form and verify that you are eligible to receive a distribution, we request the investment custodian to make payment. MVP Plan Administrators cannot dictate how long the investment custodian will take to make payment, but generally the entire process takes about three weeks. It also depends upon when the plan will allow the distribution to be paid. Please see the plan’s SPD for more details.

Each plan has a specific date and age specified for retirement. Some plans also have provisions for early retirement. Typically, normal retirement age is age 65. You will be eligible to receive a distribution from your retirement plan at normal retirement. You will also become fully vested in your account, if you are not already. Most plans allow retired employees to take their distribution upon their retirement date. However, there are guidelines in every plan concerning when a distribution may be taken for retirement and early retirement. Please read your SPD to find out more. Of course, you must complete a Distribution Form in order to take the distribution. Distribution Forms are available online under the “Participant Forms” section of the website.

Current legislation requires any employee who is age 70½ to start taking distributions from their retirement plan. However, if you are not a 5% owner of the employer and you continue to work for the employer, you may defer the required distribution until retirement. If you no longer work for the company or you own at least 5% of the employer, you must take a Required Minimum Distribution (RMD) each year by December 31st. MVP Plan Administrators, Inc. will notify any employee at least age 70½ each year regarding their options.

The Sensible 401k™ Plan allows terminated participants to request a distribution of their vested account balance as of the date they terminate employment. However, typically the distribution will not be processed until the final payroll has been issued and all contributions have been paid to the plan. Please read your SPD to find out when your plan allows distributions when you terminate your employment. If you are eligible to receive a distribution from your plan, you will have to complete a Distribution Form and turn it in to MVP Plan Administrators, Inc. Distribution Forms are available after you log into your account online under the “Participant Forms” section.

Yes. Once you log in to your account online, you can click on “View” then "Performance & Statements" from the top menu and then “Statement on Demand.” Enter the dates for which you choose to see your account statement.

E-statement delivery only. E-statement delivery of your account statement will be available online after you receive an email notification. You must provide your email address to receive the notification. Once you log in to your account online, you can click on “View” then "Performance & Statements from the top menu, and then “Statements & Disclosures.”

The Sensible 401k™ Plan provides a statement of your account at least once per quarter.

You can elect to stop 401(k) contributions at any time. However, if you want to start contributing again after you elect to stop, you may have to wait until the next plan entry date to start-up again. Your SPD will outline your plan’s entry dates.

You can change your deferral/contribution amount as often as your plan will allow. Generally, a 401(k) Plan will allow you to change the amount you are contributing as often as the plan’s entry dates. This is outlined in your plan’s Summary Plan Description (SPD). The SPD is listed under the “Documents and Forms” section after you log in to your account online.

If your employer’s plan allows for 401(k) contributions, you may generally contribute up to 100% of your salary not to exceed the IRS limit. The IRS limit is indexed each year for cost of living adjustments. Ask your plan administrator for the current year’s IRS limit, or login to your account online to view limits.

Safe harbor contributions are employer-paid contributions and are only provided if they are selected by your employer. They are often selected by your employer to help satisfy certain required compliance testing. Safe harbor contributions can be made in the form of a matching contribution or like a profit sharing contribution, and they have to meet a specific minimum formula as outlined by the Internal Revenue Service. If the safe harbor contribution is a match, you must contribute to the plan to receive a safe harbor contribution. If it not a match, but rather the safe harbor non-elective contribution, you do not have to contribute to the plan in order to be eligible to receive a safe harbor contribution. Safe harbor contributions are 100% vested at all times. For more information regarding Safe Harbor contributions see the SPD or the Safe Harbor Notice listed under the “Documents and Forms” section after you login to your account.

Safe harbor contributions are employer-paid contributions and are only provided if they are selected by your employer. They are often selected by your employer to help satisfy certain required compliance testing. Safe harbor contributions can be made in the form of a matching contribution or like a profit sharing contribution, and they have to meet a specific minimum formula as outlined by the Internal Revenue Service. If the safe harbor contribution is a match, you must contribute to the plan to receive a safe harbor contribution. If it not a match, but rather the safe harbor non-elective contribution, you do not have to contribute to the plan in order to be eligible to receive a safe harbor contribution. Safe harbor contributions are 100% vested at all times. For more information regarding Safe Harbor contributions see the SPD or the Safe Harbor Notice listed under the “Documents and Forms” section after you login to your account.

Any amount of money that you elect to defer to your employer’s retirement plan as a PRE-TAX contribution is not taxed when it is taken out of your paycheck. Here is how it works: You put some of your pay into your employer’s retirement plan. The amount you elect to put into the plan on a pre-tax basis is not taxable to you. That means tax withholding on your paycheck will be less - immediate tax savings! Example: An Employee is in the 28% tax bracket. Assume this Employee elects to save $100.00 per month.

$100.00 would go directly into the plan. $28.00 would be the immediate tax savings ($100.00 x 28%) = $72.00 is the out-of-pocket cost to the Employee to save $100.00.

It actually cost this employee $72.00 to save $100.00!

Additionally, the $100 this employee put into the plan will begin to earn income immediately, which is also on a before-tax basis. Any interest, earnings, or appreciation in value of that money will not be taxed to her while she is in the plan. The money put into the plan and the earnings will only be taxed when she takes it out of the plan.

This depends on whether or not your plan allows for this provision. Please read your SPD to see if the plan allows for after-tax contributions.

This depends on whether or not your plan allows for this provision. Please read your SPD to see if the plan allows Roth contributions. Roth contributions are after-tax contributions; however, when contributed to a 401(k) plan, the earnings accumulated in the Roth account will also not be taxable upon distribution. Certain rules do apply. It is important to determine whether Roth is right for you or not as it is not most beneficial to everyone. There are various Roth vs. Pre-tax calculators available on the internet and MVP’s website to help you with this determination.

Generally, you will be able to pay off the loan soon after the date of your termination. If you choose not to pay the loan back after terminating employment, the remaining balance is deemed a distribution and the loan is considered to be defaulted. The outstanding loan balance will be taxable to you in the year it was deemed a distribution.

You must pay the loan back within 5 years unless the loan is being used to purchase your primary residence. If the loan is being used to purchase your primary residence, the plan may allow a longer time to repay the loan.

Yes, you may pay your loan off early at any time without penalty.

Loan payments will be deducted through your paycheck and submitted to the plan by your employer. Loan payments are deducted from your paycheck on an after-tax basis.

The interest rate you pay on any loan amount from your retirement is outlined in the plan provisions. It’s common to see provisions that state either the same rate for a secured personal loan or prime plus 1% or 2%.

Yes, you will pay interest on your loan, but the interest and principal you pay is paid back to your account.

If your plan allows loans, then the plan will also have provisions for taking a loan. Typically, you will be eligible to borrow up to 50% of your vested account balance up to $50,000. The plan loan provisions may also have a minimum required amount that may be taken as a loan. Generally, plans that allow loans have a minimum loan requirement of $1,000. This means that you must have a minimum vested balance of $2,000.

It depends. Your plan must allow for the loan provisions. If your plan allows loans to be taken, then you may borrow up to the lessor of 50% of your vested account balance or $50,0000. The plan also requires a $1,000 minimum loan.

If you received a distribution from a retirement plan and federal (and possibly state) income taxes were withheld, then you change your mind and want to roll over all or part of your distribution, you generally have 60 days to do so. However, you must make up any amounts that were withheld from your distribution in taxes and pay it directly to the IRA or other qualified plan.

If you do NOT roll over your distribution from your retirement plan or IRA to another qualified plan or IRA, the IRS requires that 20% of your distribution is withheld to pay federal income tax. In some cases, state income tax also must be withheld from your distribution. Before you take a distribution from a retirement plan you should read the “Special Tax Notice” that accompanies your Distribution Election Form to learn about how you are taxed.

If you receive a distribution from a retirement plan, you will receive an IRS Form 1099R that reports the distribution in the year it was received. The Form 1099R must be used to prepare your personal income tax return. You will receive this form no later than January 31st of the year following your distribution.

If you receive a distribution from your retirement plan you must report it on your income tax return in the year it is taken. If you received the distribution in cash, you must pay income tax on the amount distributed. If you are under age 59½, the Internal Revenue Service will also assess a 10% early withdrawal penalty of the gross amount distributed. If you rolled-over your distribution to another qualified plan or IRA, the amount is not taxable.

Most retirement plans have a vesting schedule that applies to the money your employer contributes to your account. You are always 100% vested in the money you put into the plan and any monies that you rollover to the plan from your prior employer’s plan or IRA. You will also be 100% vested at all times in contributions made by your employer to The Sensible 401k™ Plan.

Yes. You will have to notify your prior employer or the custodian of your retirement account that you want to rollover your balance to your new employer’s plan. They will generally require you complete their distribution forms to let them know how to make the check payable.

Typically, the check is made payable to the investment custodian of your new employer’s plan and sent to MVP Plan Administrators, Inc.
your prior employer’s plan or IRA. You will also be 100% vested at all times in contributions made by your employer to The Sensible 401k™ Plan.

See the "Rollover Contribution Form" under "Participant Forms" in your account online.

Most retirement plans have provisions that dictate when you will become eligible to participate in the retirement plan. There is no waiting period to begin participation with The Sensible 401k™ Plan you are eligible from the date of hire.

Please read your SPD for details on eligibility requirements.

Every retirement plan has provisions for employees who were eligible to participate in their employer’s plan, then left employment, and then were rehired. Typically, if you left your employer for less than one year and then are rehired, you can start participating again on the next entry date in the plan. Please see your employer to determine your eligibility date.

Please see your HR Manager or Employer for information on how to enroll. You will need to make a contribution election, investment election and beneficiary election. The Enrollment Instructions are also available on the website once you login to your account. This form is listed under the top menu section “Documents and Forms”.

Once you become eligible to participate in your employer’s retirement plan, you will be given a Summary Plan Description (SPD). The SPD outlines the “rules” or provisions of your employer’s plan. The SPD is listed under the “Documents and Forms” section after you log in to your account online. Every retirement plan has provisions on how the plan operates and dictates certain requirements for the following:

• Eligibility Requirements
• Vesting
• When You Can Take Distributions
• What Type of Distributions Are Allowed
• If Loans Are Available
• Retirement Age