The following is a message from UW-Madison Payroll and Benefits Services to Unclassified UW-Employees:
This is a reminder that the Unclassified monthly pay date for December earnings is Tuesday, January 3, 2012. January 3, 2012 is the pay date since January 1 (New Year’s Day) is a Sunday, and Monday, January, 2 is the Federal Reserve Holiday observing the Sunday, New Year’s Day holiday.
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 for December earnings 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.