Annuity Payment Schedule Change
Currently, annuities are paid on the last business day of the month. Beginning October 1, 2012, annuities will be paid on the first business day of each month. This means that September annuities will be distributed on September 28, 2012. October annuities will be distributed 3 days later on October 1, 2012.
With this change in payment schedule, the annuities will be paid on the same dates as the Pension Plan pensions. This is simply a change in the date on which annuities are paid and will not affect the total amount of annuity to be paid in 2012.
We are announcing this in advance of the change so you will have adequate time to adjust the dates for any recurring bank withdrawals and/or automatic bill payments.
We hope this change will prove to be convenient as well as beneficial for your monthly financial planning. However, should you have questions or concerns about the change, please don't hesitate to contact us!