Monthly Pay Date for December Earnings is January 4, 2016
December 17, 2015
If you are a Faculty/Academic Staff/Limited employee (FA/AS/LI) paid on the 1st of each month, this is a reminder that the monthly pay date for December earnings is Monday, January 4 2016. January 4 is the pay date since January 1 (New Year's Day) is a Federal Reserve Holiday.
When a pay date falls on a Federal Reserve holiday or a weekend, the pay date is usually the previous business day. An exception to this is the monthly pay date that falls on New Year's Day, January 1.
To avoid tax-related issues, the January 1 pay date for December earnings is paid in the new calendar year, and must be the first "official banking business day" following the New Year's holiday. The "official banking business day" is defined as a calendar day other than a Saturday, Sunday or a Federal Reserve holiday.
Source: UW Service Center
Categories: Payroll