For those who have 403B plans and contribute each month, I would be interested to learn if anyone has experienced this scenario before.
Mrs. Curly started contributing to her supplemental 403B plan in January (the plan an optional/supplemental addition to the mandatory state and county retirement plan). The custodian is CoreBridge and she is paid monthly. For each month January thru May, the contributions have appeared in her CoreBridge account within a day or two of payday (not counting days on the weekend). For June, they still don't have the funds. A call to CoreBridge confirmed that they don't sit on the money and once they receive it, it gets invested the end of that day in the fund(s) indicated by the investor.
June payday was on the Weds June 26th. It would be the norm to see the funds invested by Friday the 28th. At the outside, by Monday July 1st.
A phone call to the payroll department resulted in some amount of confusion, but ultimately the answer was " it's the end of the school year, busy times, might be a delay in fund transfers".![:confused]( "confused")
![:annoyed]( "annoyed")
Not a huge deal in the scheme of things, but just asking the group if this is something that sometimes occurs with these plans. I don't have any frame of reference because I've never had a workplace plan (most of my working life has been self-employed).
Thanks for any comments.
Mrs. Curly started contributing to her supplemental 403B plan in January (the plan an optional/supplemental addition to the mandatory state and county retirement plan). The custodian is CoreBridge and she is paid monthly. For each month January thru May, the contributions have appeared in her CoreBridge account within a day or two of payday (not counting days on the weekend). For June, they still don't have the funds. A call to CoreBridge confirmed that they don't sit on the money and once they receive it, it gets invested the end of that day in the fund(s) indicated by the investor.
June payday was on the Weds June 26th. It would be the norm to see the funds invested by Friday the 28th. At the outside, by Monday July 1st.
A phone call to the payroll department resulted in some amount of confusion, but ultimately the answer was " it's the end of the school year, busy times, might be a delay in fund transfers".
Not a huge deal in the scheme of things, but just asking the group if this is something that sometimes occurs with these plans. I don't have any frame of reference because I've never had a workplace plan (most of my working life has been self-employed).
Thanks for any comments.
Statistics: Posted by Curly — Tue Jul 09, 2024 9:43 pm — Replies 2 — Views 246