Once you submit your distribution request, it routes through a few review and processing steps. or transparency, we provide real-time visibility into these activities directly on the Dashboard page of your online account.
We send all distribution requests for approval – this action is typically completed by your Employer.
Once the distribution is reviewed and approved, we process the payment. You'll generally receive it within 10-14 calendar days from the payment issue date for checks, or 5-7 business days for direct deposit from the approval date (if available).
Distribution Tracker
Distribution Request Steps and Statuses
Received Request | Confirmation that your distribution has been received and is in progress. |
Awaiting Employer Approval | All distribution requests are sent for approval - this action is typically completed by your Employer. The Distribution Tracker will note the current status with a blue circle. If the tracker displays Awaiting Employer Approval we're waiting for your Employer to approve the request. Note: We cannot proceed with your request until the Plan Sponsor has reviewed it. If approved, you will receive an automated email notifying you that your request has been approved. Next, your request will be be processed and traded. If rejected, you will receive an automated email with the reason for the rejection and any comments from the Reviewer. |
Funding Request | After your request is approved, we sell shares in your account to fund your request. For most mutual funds, this sale is finished and the money is ready by the next business day the market is open, but some investments may take a little longer before the cash is available. |
Preparing Payment | Once your trades have settled, the cash is available to complete the payment of your distribution request. At this stage in the process, we review your request to ensure payment details, tax withholdings (if applicable), and other details are in order before we finalize the distribution. |
Payment Sent | We've sent your distribution request for payment processing (check writing or initiation of the direct deposit) with Paying Agent Services. |
| Issued | We've issued your distribution payment. based on the payment details of the request and it should be received shortly. Checks sent via Standard Mail: Distribution and Rollover checks, depending on where they are being mailed, are typically in transit for 10-14 calendar days. Checks sent via Expedited Mailing: Distribution and Rollover checks that are expedited should be received within 1-2 business days of the payment being issued. Direct Deposits (also called ACH transfers): The distributions are typically received by Banks within 1-2 business days of payment issuance and posted to your account. Banks then have their own processing time. |
Still have questions? Please contact our service center for assistance.
