The Pension Benefit Guaranty Corporation makes its benefit payments at the beginning of each month. Banks and other financial institutions are required to post PBGC payments to Direct Deposit recipients’ accounts no later than the first business day of each month. Saturdays, Sundays and Federal holidays are not counted as business days.

In 2009, retirees with Electronic Direct Deposit should receive their PBGC payments in their accounts no later than the following dates: 
 

Normally, if the first of the month falls on a weekend or holiday, PBGC will pay benefits on the last business day of the previous month.

70 percent of all people receiving benefit payments from the Pension Benefit Guaranty Corporation have their monthly payments deposited into an account at their bank, savings and loan, or credit union. Direct Deposit is a simple, safe and secure way to receive benefits.

For more information on Direct Deposit of PBGC benefit payments, go to the "Apply for direct deposit" page on PBGC's Web site at www.pbgc.gov/workers-retirees/transactions/content/page476.html.