401k question

[Coldworld]

hey all. Does anyone know when you change your percentages, or the funds themselves, do the changes happen now or is there a period of time that one has to wait for it to happen?

 

[Babagounj]

Usually it happens within a few business days.
You will receive notification by snail mail of your changes with all necessary info included.

 

[Coldworld]

I actually changed some of the funds and it said that it would be changed in the future???

 

[mountaingoat]

Some of the funds have a waiting period to prevent volatility. This ensures that you can't buy/sell day-by-day, making the funds volatile. I believe with the government treasury funds there is a waiting period before you can go back in and purchase them.

With the equity index funds, you should be able to make the purchase the next business day.

 

[1989]

I read somewhere that changes you make happen at the close of the next business day.

 

[Leftinbuilding]

Interesting you would bring this up. I made some changes on May 7th. I was told they would take effect on the 9th. They took effect today. (15th) This was all online.

 

[mountaingoat]

I don't know what funds that you were invested in, but here is some information from the Savings Plus site:

Fund restriction:
"Contributions and loan repayments made to the EAFE International Index Fund must remain invested in the fund for 30 calendar days to avoid a 2% redemption fee."

Contributions:
"Contributions generally post to your account on the third business day of the week following the week you received your paycheck."

Hope this helps.

 

[Coldworld]

thanks for the info mountaingoat..