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Department of the Treasury

Hold Pension & Payroll for One Day in ACH Interest Bearing Accou

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In administering the provisions of law relating to pay, retirement and leave of absence, the federal government is required to ensure employees and retirees receive their paychecks on or before the second Thursday following each pay period. These provisions were enacted many years ago when payroll processes were far less efficient (cashiers, paper checks, mail, etc.).

Now that virtually all federal employees and retirees... more »