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BenefitsLink > Q&A Columns >

Stop, Look & Listen: Railroad Retirement Benefits Q&A

Answers are provided by Robert S. Kaufman

Payment of Monthly Benefits When the First of the Month Falls on Saturday, Sunday or a Federal Holiday

(Posted November 1, 2014)

Question 1208: Does the Railroad Retirement Board deposit on the first of the month even if it falls on a Saturday, or do I have to wait until the next business day?

Answer:

Financial institutions are required to have monthly payments available to annuitants on the first business day of the month. Saturdays, Sundays and federal holidays are not considered business days.


Important notice:

Answers are provided as general guidance on the subjects covered in the question and are not provided as legal advice to the questioner or to readers. Any legal issues should be reviewed by your legal counsel to apply the law to the particular facts of this and similar situations.

The law in this area changes frequently. Answers are believed to be correct as of the posting dates shown. The completeness or accuracy of a particular answer may be affected by changes in the law (statutes, regulations, rulings, court decisions, etc.) that occur after the date on which a particular Q&A is posted.


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