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Company 401k and transaction dates
Posted on 11/25/15 at 9:25 am
Posted on 11/25/15 at 9:25 am
My company offers a 401k plan with a company match (50% of employees investment up to 6% salary). In the past they have always transacted the investment 1-3 days after payday (Example: Paid on 09/30 and 401k investment on 10/02). Recently I have noticed they are transacting the investments 10 days or greater after payday. Does this seem odd? How long after payday does your company make the investment?
4
Posted on 11/25/15 at 9:42 am to RickAstley
I don't know what size company you work for, but I will occasionally go a week after payroll before submitting my employees 401K contribution if my week is crazy. Technically, Vanguard just ask that I submit it within 30 days of the payroll date.
shite gets hectic sometimes, and I'm the only one that can do it.
shite gets hectic sometimes, and I'm the only one that can do it.
Posted on 11/25/15 at 9:49 am to RickAstley
My company seems to vary every month. This month it was 5 days after payday, last month it was closer to 20 days.
Posted on 11/25/15 at 1:13 pm to MSMHater
That's good to know. Ours is through John Hancock and the employment is between 250-500. I've only seen a delay like this once before and that was after last year's company wide 401k bonus. Thanks for the info about Vanguard's 401k policy. I'll go with the mindset that things are very busy and this isn't foreshadowing any upcoming hits to the company.
Posted on 11/25/15 at 1:14 pm to TexanWhoDat74
20 days seems a little extreme, but maybe I have been spoiled by my company?
Posted on 11/26/15 at 3:49 pm to RickAstley
Paid on Friday transactions date always first business day of the following week
Posted on 11/26/15 at 8:47 pm to RickAstley
I don't recall what it is, but I thought there was a law on the amount of days the transaction could be delayed
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