PBGC Payment Dates
The table below shows the dates through 2014 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, June, September, and November 2014 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, it would result in a tax liability for 2013 instead of 2014. For this reason, January direct deposit payments will arrive on January 2, 2014. PBGC also provides direct deposit payment dates for 2014 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 2014||**Thursday, 01/02/2014||Friday, 12/27/2013|
|February 2014||*Friday, 01/31/2014||Wednesday, 01/29/2014|
|March 2014||*Friday, 02/28/2014||Wednesday, 02/26/2014|
|April 2014||Tuesday, 04/01/2014||Thursday, 03/27/2014|
|May 2014||Thursday, 05/01/2014||Monday, 04/28/2014|
|June 2014||*Friday, 05/30/2014||Wednesday, 05/28/2014|
|July 2014||Tuesday, 07/01/2014||Thursday, 06/26/2014|
|August 2014||Friday, 08/01/2014||Tuesday, 07/29/2014|
|September 2014||*Friday, 08/29/2014||Wednesday, 08/27/2014|
|October 2014||Wednesday, 10/01/2014||Friday, 09/26/2014|
|November 2014||*Friday, 10/31/2014||Wednesday, 10/29/2014|
|December 2014||Monday, 12/01/2014||Tuesday, 11/25/2014|
|January 2015||**Thursday, 01/02/2015||Monday, 12/29/2014|
* 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 2013 instead of 2014. For this reason, January direct deposit payments arrive on the first business day of January.