Monthly Payment Dates
PSERS pays monthly retirement benefits on the last working day of the month for which they are due. However, because PSERS’ group health insurance premiums are payable in advance, your medical deduction is for the following month. For example, PSERS will pay your January benefit on January 30th, but the medical deduction is for February.
Payments sent via electronic transfer to your financial institution should be in your account by 9:00 AM on the last business day of the month. Payments mailed to your home address may take additional time to reach you.
||January 2019 |
Q: Where is my monthly pension check? I always have it by this time ever since I retired. Are they late?
A: PSERS pays pension benefits by the last business day of each month once a member is on regular payroll status. PSERS has mandatory direct deposit for its retirees with very few exceptions. Payments sent via electronic transfer are available in your account by 9:00 AM on the last business day of the month. If direct deposit is rejected by your banking institution then PSERS will reissue the payment via paper check if new direct deposit information is not received (allow up to three weeks for reissuance). If receiving your benefit by paper check, PSERS schedules your check to be mailed by the last business day of the month. Because we are a State Government agency, all payments are made by the Pennsylvania Treasury Department. They will not consider a check late or missing until after the 10th of the following month. This allows time for delivery by the post office . Obtaining a replacement after the 10th takes approximately 3 weeks.