Day 1 – Your application is received by the Carpenters Combined Funds. Your application is reviewed and if approved, it will be faxed to John Hancock for processing.
Day 2 – John Hancock will sell investments in your account to raise cash for the gross amount of withdrawal. The participant will see this date on their transaction history as “shares sold”.
Day 3 – John Hancock awaits to receive cash from investments sold.
Day 4 – John Hancock receives cash from investment sold, prepares disbursement.
Day 5 – John Hancock issues check.
Day 6 – John Hancock mails check.
Days 7 to 10 – Payment is “in transit” being mailed to your home address.