Force Outs 

On occasion, a 401(k) client may contact us regarding the absence of their 401(k) funds in their account. This typically indicates that a 'Force Out' or a 'Deconversion Liquidation' has occurred.

• Force Out: Force-out distributions can occur if a company has terminated its 401(k) plan, or if an individual no longer works at the company that sponsored the 401(k) and has a vested balance below the plan's force-out threshold.

Key Information for Handling These Scenarios:

Crucial Point: If the "Disbursement Method" in 'Clinic' is listed as "Force-out" OR "Wire," please note that this may indicate it was a force-out. Please rely on 'Clinic' for this verification.

Tax Implications: It's important to understand that this type of transfer is typically a direct rollover and is not considered a taxable event. This detail can also be confirmed in the 1099-R tax forms section of 'Clinic' (if available for the specific transaction).

Participant Notification Process: Typically, Inspira Financial (formerly Millennium Trust Company, MTC) sends paper notices to affected participants, who then have a 40-day window to take action on their funds. Customers can reach Inspira Financial's Client Service Team at 877-682-4727 during regular business hours (Monday–Friday, 7:00 AM - 6:00 PM CT) or via email at arp@mtrustcompany.com.