Did You Know MVP removes terminated participants annually where appropriate?
Every year MVP makes sure that all of your terminated participants are removed from the plan under the plan document’s “Cash-Out” provisions. These provisions are not get-to’s. They are have-to’s. If your plan has lots of vested balances under $5,000, then either your plan document needs amending or your plan document is not being followed. Lots of these small balances only increase your fiduciary liability and increase plan costs. Regardless of the reason, it’s a great time to switch to MVP! Lower fees, reduced fiduciary burden. Win-win!