If you are normally paid on the 1st of the month, this is a reminder that the January Unclassified monthly pay date will be Monday, January 3, 2011, since January 1, 2011 is a Saturday.
When a pay date falls on a Saturday, Sunday or Federal Reserve holiday, the pay date is usually the previous business day or non-Federal Reserve holiday. An exception to this normal pay date provision is the Unclassified monthly pay date that falls on New Year’s Day – January 1. To avoid tax-related issues, the January pay date must be the “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.