Note: Retiree paydays are always on the first day of the month. If the first day of the month falls on a weekend, the pay date will move to the last business day of the payroll month.
Availability of Funds
The Department of Treasury's Financial Management Service (FMS) Kansas City Provides Payment, Collections and Financial Reporting services to the U. S. Coast Guard. FMS has recently undertaken a number of modernization efforts. One of these efforts is called Payment Application Modernization (PAM) which will help FMS process agency payment requests in a more efficient and cost effective manner.
In accordance with NACHA Operating Rules, consumer payments (i.e., Federal salary and travel payments, benefit payments) must be made available for withdrawal no later than the opening of business on the settlement date (provided the entries are made available to the Receiving Depositary Financial Institution (RDFI) by its ACH operator no later than 5:00 p.m. on the business day prior to the settlement date). Corporate payments (i.e., vendor payments, non-benefit payments) must be made available for withdrawal on the settlement date.