The other day I went to check the transaction history on my new 457(b) and I noticed that, even though it had been 13 days since I got paid (and thus since my monthly contributions were withheld), the money still hadn’t shown up over at TIAA-CREF. Perhaps this is standard operating procedure for most investment companies, but I’ve never run into these sorts of delays with my employer-related retirement accounts at Vanguard or Fidelity. Rather, my contributions have always shown up within a few days at the most.
Curious as to what was going on, I put in a call to TIAA-CREF. In speaking with the phone rep, I learned that it can take up to 30 (!) days for contributions to be credited to my account. The good news is that they backdate the transactions to when the money was first withheld (or so they say), so it’ll eventually be treated as if it was invested immediately, with no delay. So if you ever run into this, have no fear… It may be annoying, but there’s no real harm being done.