Payment Schedule

2023

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.