TEAMSTER RETIREES MESSAGE BOARD
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Gino? direct deposit
Posted by gary on 5/28/2010, 9:13 am
I don't know how many people pay attention to the deposit of their pension check, but I have noticed that even though it is suppose to be deposited on the first of each month there are months when my check is anywhere from one to four days late depending on whether the first falls on a weekend. I have spoken to the bank and they say that the Pension Fund requires that it be deposited on the first BUSINESS DAY even though the deposit is made on the first. I called the Pension Fund and they say they send the file before the first and that the bank is to blame for the delay. So in this day of real time withdrawals from any transaction executed even on the weekends, why is the deposit being delay multiple times during the year? So why is it that the Fund cannot transfer the money prior to the first when the banks are closed weekends and holidays?
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