Payment Schedule

Overview

Benefit Payment Schedule

2023

Payment Month

Payment Day

Benefit Payment Date
August Tuesday August 1, 2023
September Friday September 1, 2023
October Friday September 29, 2023
November Wednesday November 1, 2023
December Friday December 1, 2023

2024

Payment Month

Payment Day

Benefit Payment Date
January Tuesday January 2, 2024
February Thursday February 1, 2024
March Friday March 1, 2024
April Monday April 1, 2024
May Wednesday May 1, 2024
June Friday May 31, 2024
July Monday July 1, 2024
August Thursday August 1, 2024
September Friday August 30, 2024
October Tuesday October 1, 2024
November Friday November 1, 2024
December Wednesday November 27, 2024
Disclaimer: Please be advised that ACH deposits should not be expected before the designated payment date. The timing of payment receipt is contingent upon the bank’s upload and subsequent processing and posting of the ACH. As such, the receipt of ACH payments are to be expected on the scheduled payment date provided above, with any earlier deposit subject to the bank’s processing procedures.

Download PDF: Benefit Payment Schedule - 2024

 

Benefit Payment Policy

OCERS pays one month in arrears. For example: the May 1st benefit payment covers the period of April 1st – 30th.

Checks are always mailed the last day of the month and are payable on the first of every month.

Monthly Payment Policy

As part of an ongoing effort to provide better customer service to our members, OCERS has a plan to bring relief to retirees when the first of the month falls on a weekend or holiday. When the first of the month falls on a weekend or holiday, your monthly benefit will be deposited the previous business day. The only exception to this is the January 1st benefit payment. The January 1st benefit will continue to be paid the first business day of the year.

This affects only those members who receive their monthly benefit via EFT. For those who receive an actual check, they will continue to be mailed out on the last business day of the month via the United States Postal Service.

Retirees who want to receive their retirement allowance in the most prompt way should sign up for Electronic Fund Transfer – also known as “Direct Deposit” or “Automatic Deposit.” This provides retirees with the fastest delivery of their monthly retirement payment possible.