Generally, yes. Your plan's requirements are specific, but we can let you know if you qualify for a distribution.

You may call 1-919-465-2220 and ask to speak with the Distribution Specialist. You may also email us at distributions@mvp401k.com.  Also, find answers to frequently asked questions in our Self-Help Guide by selecting Plan Resources under the Education tab on our website.  There you will see a magnifying glass which will link you to the Self-Help Guide.

Go to www.mvp401k.com and log in as a Participant. Click on "Manage" from the top menu and then "Manage Contributions".  Then selection "Investment Elections".  You will see all investments available.  

MAKING THE CHANGE TO INVESTMENT ELECTIONS
Read the information on the screen, make your NEW investment election under the column entitled NEW ELECTION and then click submit. Once submitted successfully, you will receive a confirmation. If you did not receive a confirmation, the change was not successful.

HOW CAN I MAKE AN INVESTMENT TRANSFER?

There are 3 different types of investment transfers:
1. Portfolio Rebalance – rebalances your entire account to your current investment elections.
2. Auto Rebalance – establish a specified time to automatically rebalance your entire account balance according to your current investment elections.
3. Investment Transfer – transfer from individual investments to other investments.

Once you click on an option, read the information on the screen for a better understanding of what each option does. Then follow the instructions to make the transfer and then click submit. Once submitted successfully, you will receive a confirmation. If you did not receive a confirmation, the change was not successful.

The great part is YOU create your own Login ID AND Password, and you won’t have to email or call us to reset it!  How?  Simply revisit the Participant Login screen to the “Forgot Login ID” or “Forgot Password” to reset your own credentials.

After three (3) failed attempts to get into your account, you will need to contact us to reset.  Please contact us by email at mvp@mvp401k.com.  Emails to this mailbox are monitored daily, during normal business hours.

To get started, go to www.mvp401k.com.  On the upper right is a red Login button; when you click that, you will have an option to choose “Participant Login.”

Then, click on “Register to Access Account”, and complete the online registration.  Please be sure to enter your credentials in the correct fields, (First and last name, DOB, SSN, and then the personal email and/or mobile number) and then click continue.

The great part is YOU may create your own Login ID AND Password, and you won’t have to email or call us to reset it!  How?  Simply revisit the Participant Login screen to the “Forgot Login ID” or “Forgot Password” to reset your own credentials

How to Change my deferral amount.

To change your contributions or deferrals, log into your participant account.  Go to the Manage tab, select Manage Contributions, Contribution Rate or Amount. Read the instructions on the screen to make your deferral election and click submit.  If successful, you will receive a confirmation email.  These instructions can also be found on our website under Plan Resources when you select the Education tab.

This depends upon the plan's specific requirements. Some plans allow "in-service" distributions. Commonly, these are at age 59 1/2 or on account of financial hardship as defined by the IRS?

The IRS definition of a hardship is to 1) prevent eviction/foreclosure, 2) purchase primary residence, 3) pay outstanding medical bills for you or your dependent, 4) pay outstanding post-secondary education expenses for your or your dependent, 5) pay funeral expenses, 6) pay expenses due to catastrophic loss of a home.

Some plans allow loans. Your plan's SPD (Summary Plan Description) will let you know if loans are allowed. Plans that do allow loans generally require that you have a vested balance of at least $2,000 to take the minimum loan amount of $1,000. The interest rate is generally around the Prime Rate and the term cannot exceed 5 years. The maximum amount you may borrow is 50% of your vested account balance capped at $50,000.

Generally, no. Most plans that do allow loans only allow 1 at a time. We can inform you if you qualify for a 2nd loan. If so, note that the IRS limits the amount of a 2nd loan more than they do the first loan. We can let you know what that amount is.

To obtain an accurate loan payoff amount, please email the MVP Distributions Team at distributions@mvp401k.com. The Team will provide you with instructions specific to your plan along with the most up-to-date loan payoff amount.

You can login to your account and "model" a loan that will tell you what your payments will be based upon the amount you want to borrow and the term of the loan. 

1. Select Manage, then Loans & Withdrawals.
2. Click Loan Modeling.
3. Enter in the information for the loan request:
    a. Type
    b. Amount
    c. Term
    d. Payroll Cycle
4. Click Calculate Payment.

This is added security for your benefit to prevent fraud, specifically, someone who would forge your signature. A notary is trained and licensed to verify your identity with photo ID. This safeguard is important to protect your account.  Most banks have a notary available and is generally free of charge.

The best way to get us your notarized form is to either mail it, faxed it, or scan and email it to us. This will ensure that it goes through our normal process and will be more quickly handled.

Mailing address: 300 S. Main Street, Suite 328, Holly Springs, NC 27540

Fax: (919) 465-2210

Scan to:  mvp@mvp401k.com

If you provide your email address, we will email you confirmation upon receipt. Otherwise, you may simply call us and we will give you confirmation that it has been received.

Distributions from a retirement plan are highly regulated and can take up to 30 days to process.  MVP does not hold the assets for the plan, we must work with the custodian for your plan.  We have no control over their timing to distribute the balance.

You should have received a confirmation number from us, when you submitted your distribution online either via form or online submission.  That confirmation number indicates we have received your distribution and are currently working on it.  If additional information is needed, a member of our team will reach out to you.  If you have not received your distribution within 30 days of submission, please reach out to us.  Thank you.

Generally, yes. Your plan's requirements are specific as to who may rollover money into the plan. Review your plan's SPD (Summary Plan Description) to learn more or ask your employer.

If you are allowed to do so, then contact the provider where your money is held to obtain any forms they require.

For most, you can do this online>

Log into your participant account at www.mvp401k.com. 

1. Select Manage, then Loans & Withdrawals.
2. Click Termination Distribution.
3. Enter in the information for the distribution request:

Rollover: 

a.  Check Rollover Pre-Tax
b.  Complete all information as to how the rollover check should be completed and mailed.
4.  Click Submit Request.
5.  If the request looks complete, click I Accept. If you need to make changes, click Change This Distribution Request.
6.  After it is submitted, you will receive a confirmation number and email notification.

If your plan requires paper requests, please contact us at (919) 455-2220.

Please also contact us and we will let you know how to make the check payable, what information to include on it, and where to send it.