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Retirees: Important Reminder About January’s Direct Deposit

Posted 128 days ago ago by Jamee Villa    0 Comments  0 Likes Like Dislike

Are you set up for direct deposit for your monthly benefit? If so, you should know that January’s payment will post January 4.

Direct deposit posts the first business day of the month after the monthly benefit is issued. Although the December 2020 monthly benefit is issued on January 1, 2021, the first business day of the month is January 4, 2021. 

IRS regulations require that no more than 12 monthly payments can be issued in a calendar year, and no more than one payment can be issued in a month.   

We post these dates for the calendar year through myCalPERS. You can also view these dates on the Pay Days page of our website. 

Need to Update Your Direct Deposit?  

You can review or change your direct deposit in your myCalPERS account. 

Don’t Have a myCalPERS Account?  

You can find the form for Direct Deposit Authorization (PDF) on our website, as well as more information about direct deposit. You can also call the CalPERS Customer Contact Center at 888 CalPERS (or 888-225-7377) for assistance.

 

To view the article, please visit the website below:

https://news.calpers.ca.gov/retirees-important-reminder-about-januarys-direct-deposit/


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