Direct deposit is a simple, fast, and secure way to receive payments, and it's free. These payments can be deposited directly into a bank account, savings and loan, credit union, or on a pre-paid debit card. Direct deposit payments are normally posted to accounts no later than the first business day of each month, but the actual date when you will receive your payment will depend on your financial institution. If the first of the month falls on a weekend or holiday, direct deposit payments will usually post before the first of the month. Direct deposit is available only if your account is with a U.S. financial institution. Apply for direct deposit.
PBGC mails paper checks before the first of each month. However, PBGC cannot guarantee delivery on the first of the month. Normal mail delays, delays due to inclement weather or other uncontrollable events may result in checks being delivered later. If you have a bank account, we encourage you to choose direct deposit. It’s fast, free and a secure way to receive payments. For more information visit the Apply for direct deposit web page.
The table below shows the dates through December 2017 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.
|Payment Month||Direct Deposit Payment Date||Check Mail Date|
Tuesday, Jan.03, 2017**
|Wednesday, Dec. 28, 2016|
|February 2017||Wednesday, Feb.01, 2017||Friday, Jan. 27, 2017|
|March 2017||Wednesday, March 01, 2017||Friday, Feb. 24, 2017|
|April 2017||Friday, March 31, 2017*||Wednesday, March 29, 2017|
|May 2017||Monday, May 01, 2017||Wednesday, April 26, 2017|
|June 2017||Thursday, June 01, 2017||Friday, May 26, 2017|
|July 2017||Friday, June 30, 2017*||Wednesday, June 28, 2017|
|August 2017||Tuesday, Aug. 01, 2017||Thursday, July 27, 2017|
|September 2017||Friday, Sept, 01, 2017||Tuesday, Aug.29, 2017|
|October 2017||Friday, Sept. 29, 2017*||Wednesday, Sept. 27, 2017|
|November 2017||Wednesday, Nov. 01, 2017||Friday, Oct. 27, 2017|
|December 2017||Friday, Dec. 01, 2017||Tuesday, Nov.28, 2017|
* 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 2016 instead of 2017. For this reason, January direct deposit payments arrive on the first business day of January.