Voluntary Payroll Deduction

[Guest miguelgutz]

I have a question regarding payroll deduction plans. This is a non qualified, after-tax deduction. The "Plan" consists of a small life insurance policy and a selection from three accumulation accounts. One of them is a mutual fund.

My question is, when the employer deducts the payroll how soon must he deposit the monies to the accounts? Must it be transfered that same day or can it be mailed 3 to 5 weeks later. If it is going to the mutual fund then this is a securities transaction.

Thank you for your assistance.

Miguel Gutierrez