PBGC Payment Dates
The table below shows the dates through December 2016 when direct deposit payments will be delivered and when paper checks, dated the first of the month, will be mailed. Direct deposit payments are usually available sooner than paper checks.
Direct deposit is a simple, safe, and secure way to receive payments, and it's free. What's more, with direct deposit, you no longer have to wait for mail delivery of a check or go to your bank to deposit your payment. More than 80 percent of all people receiving pension payments from PBGC have their payments deposited directly into an account at their bank, savings and loan, credit union, or on their pre-paid debit card. Direct deposit is available only if your account is with a U.S. financial institution. Direct deposit payments are normally posted to accounts no later than the first business day of each month. If the first of the month falls on a weekend or holiday, direct deposit payments will usually post before the first of the month. For this reason, February, March, August, and November 2015 direct deposit payments will arrive before the first of the month. For tax purposes, January is the exception to this rule. If payments arrived in December 2015, it would result in a tax liability for 2015 instead of 2016. For this reason, January 2016 direct deposit payments will arrive on January 4, 2016. PBGC also provides direct deposit payment dates for 2016 and beyond.
PBGC mails paper checks several days before the first of each month and they usually arrive by the first of the month. However, PBGC cannot guarantee delivery on the first. Sometimes, normal mail delays or delays due to inclement weather or other uncontrollable events result in checks being delivered later. On average, one of every 200 paper checks has to be reissued due to these problems whereas fewer than one of every 4,000 direct deposits are initially rejected. If you have a bank account, we encourage you to choose direct deposit. For more information visit the Apply for direct deposit web page.
|Payment Month||Direct Deposit Payment Date||Check Mail Date|
|January 2016||** Monday, 01/04/2016||Wednesday, 12/29/2015|
|February 2016||Monday, 02/01/2016||Wednesday, 01/27/2016|
|March 2016||Tuesday, 03/01/2016||Thursday, 02/25/2016|
|April 2016||Friday, 04/01/2016||Tuesday, 03/29/2016|
|May 2016||* Friday, 04/29/2016||Wednesday, 04/27/2016|
|June 2016||Wednesday, 06/01/2016||Thursday, 05/26/2016|
|July 2016||Friday, 07/01/2016||Tuesday, 06/28/2016|
|August 2016||Monday, 08/01/2016||Wednesday, 07/27/2016|
|September 2016||Thursday, 09/01/2016||Monday, 08/29/2016|
|October 2016||* Friday, 09/30/2016||Wednesday, 09/28/2016|
|November 2016||Tuesday, 11/01/2016||Thursday, 10/27/2016|
|December 2016||Thursday, 12/01/2016||Monday, 11/28/2016|
* Please note that direct deposit items with asterisk indicate payment before the first of the month.
** Late payment - New Tax Year. If payments arrived in December, it would result in a tax liability for 2015 instead of 2016. For this reason, January direct deposit payments arrive on the first business day of January.