Monthly Pay Date For December Earnings Is January 4, 2021
November 19, 2020
For UW employees who are paid on the 1st of each month, the monthly pay date for December 2020 earnings is Monday, January 4, 2021. January 4 is the pay date because January 1 (New Year's Day) is a Federal Reserve holiday.
When a pay date falls on a weekend or Federal Reserve holiday, 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-Shared Services