When Are 2024 Annuity Payments Available?

Under state law, monthly Wisconsin Retirement System annuity payments are payable on the first day of the month. When the day falls on a weekend or holiday, it is moved to the next regular business day.

In 2024, the following dates are affected and moved to corresponding settlement dates:

There are, however, a few notable exceptions, as described below.

Payments via an electronic Automated Clearing House (ACH) deposit. There are times when the first of the month falls on a weekend and your bank already has your annuity payment in your account. This means your bank chose to make the funds available to you, even though the Federal Reserve will not transfer the payment to your bank until the first business day. 

Each bank makes this decision individually. Some banks do not allow access until the funds are actually received from the Federal Reserve, while others allow it. Similarly, some banks do not process any electronic deposits on Saturdays.

Check with your bank regarding its policy for handling ACH payments dated on non-business days.

In addition, payments are due by the end of the settlement day, which means they might not be there first thing in the morning. Again, this is a process of each individual bank.

Payments via paper check. Checks are printed and delivered to the post office on the last mailing day of the month. For example, if the first falls on a Saturday, checks are delivered to the post office on Friday. Your actual receipt date will depend on the speed of the mail delivery.

You may consider changing to ACH payments. Though ACH payments sometimes may be delayed by a day or two due to federal banking rules, ACH is by far the fastest and most secure way to receive payments.

Today, 99% of WRS annuitants are enrolled in ACH and enjoy the security of knowing where their money is on the first of the month.

To change to ACH payments, complete and submit form ET-7282.