Understanding Trade Deadlines and Processing Timelines for 401(k) Investment Changes

September 29, 2025

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You can manage your investments at any time using the Investment Allocations, Rebalancing, and Transfers sections found in the 401(k) menu of your account Dashboard. However, trade processing timelines depend on the type of change you're making, the investment type (ETF, Mutual Fund, or PCRA), and your plan's custodian.

Below is a complete guide to how your investment instructions are handled:

Who This Applies To

This information is for all 401(k) participants looking to update their investment allocations, initiate fund transfers, or rebalance their portfolio.

Types of Investment Transactions

Future Asset Allocation Changes: Adjust how future contributions are invested.
Fund Transfers: Move money between existing investment options.
Rebalancing: Reallocate your existing investment balance to match a target allocation.

Key Timing Guidelines

1. Future Asset Allocation Changes

Effective Immediately: Any changes to how future contributions are invested take effect right away.
Pending Contributions Not Affected: Contributions already in transit at the time of your change will follow the previous allocation.

2. Fund Transfers and Rebalancing

General Processing Timeline: These actions typically take three business days to complete:
- Day 1 – Sell order placed
- Day 2 – Sell order settles, buy order placed
- Day 3 – Buy order settles and transaction completes

Trade Submission Deadlines by Custodian

Trades must be submitted on a market day (Monday through Friday, excluding market holidays) and before the deadlines listed below to be initiated the same day.

Matrix Custodian

ETFs: Submit before 11:00 a.m. PT
Mutual Funds and PCRAs: Submit before 12:00 p.m. (noon) PT
Trades submitted after these times or on a non-market day will be processed on the next market day.

Schwab Trust Custodian

ETFs and Mutual Funds: Submit before 11:00 a.m. PT
PCRA (Personal Choice Retirement Account): Submit before 10:00 a.m. PT
Trades submitted after these deadlines or on a non-market day will be processed on the next market day.

Schwab Custodian

Mutual Funds and PCRAs: Submit before 11:00 a.m. PT
Trades submitted after 11:00 a.m. PT or on a non-market day will be processed on the next market day.

Where to Make Changes

Log in to your account
Select 401(k) from the left navigation menu
Choose Investment Allocations, Rebalancing, or Transfers