December Earnings for Monthly Employees
Faculty and Staff employees should be reminded that the payday for December 2010 earnings is January 3, 2011. Banking regulations require that settlement of deposits into checking/savings accounts may occur only on an official day on which the Federal Reserve Bank is open. The Federal Reserve Bank is open every day except Federal Holidays and weekends. The Federal Reserve will not be open until January 3, 2011 because January 1, 2011 is a Federal Holiday and January 2, 2011 is a weekend date.
If you have automatic payments taken from your bank account on the first day of the month, you may wish to contact your financial institution to make arrangements to adjust the payment schedule to take the automatic payment on January 3, 2011.