Introduction

As we approach the end of 2023, federal employees are anticipating the release of the OPM calendar pay periods for 2024. Understanding the pay periods is crucial for employees to properly plan and manage their finances. In this article, we will provide you with everything you need to know about OPM calendar pay periods 2024.

What Are OPM Calendar Pay Periods?

OPM calendar pay periods are the dates in which federal employees receive their paychecks. These pay periods are based on the fiscal year and are determined by the Office of Personnel Management (OPM). In general, federal employees are paid biweekly, meaning they receive a paycheck every two weeks.

What Is the Fiscal Year?

The fiscal year is the 12-month period that the federal government uses for accounting purposes. It runs from October 1st of one year to September 30th of the following year. For example, fiscal year 2024 runs from October 1st, 2023, to September 30th, 2024.

When Will the OPM Calendar Pay Periods for 2024 Be Released?

The OPM usually releases the calendar pay periods for the upcoming fiscal year in late September or early October. Therefore, federal employees should expect to see the OPM calendar pay periods for 2024 released around that time.

How Can You Access the OPM Calendar Pay Periods?

The OPM calendar pay periods can be accessed on the OPM website. Federal employees can also view their pay information and upcoming pay periods on the Employee Personal Page (EPP).

What Should You Look for in the OPM Calendar Pay Periods for 2024?

When reviewing the OPM calendar pay periods for 2024, federal employees should pay attention to the following:

• The start and end dates of each pay period
• The number of pay periods in the fiscal year
• The dates of federal holidays and how they may impact pay periods

How Can Federal Employees Plan and Manage Their Finances Based on the OPM Calendar Pay Periods?

Knowing the dates of the pay periods can help federal employees plan their budget and expenses. They can also use the information to ensure they have enough money to cover bills and other expenses during the times when they will not receive a paycheck.

Question and Answer

Q: What happens if a federal holiday falls on a pay period?

A: If a federal holiday falls on a pay period, federal employees will receive their paycheck on the last business day before the holiday. For example, if a federal holiday falls on a Thursday, federal employees will receive their paycheck on Wednesday.

Q: Can federal employees change the dates of their pay periods?

A: No, federal employees cannot change the dates of their pay periods. These dates are set by the OPM and cannot be altered by individual employees.

Q: Will the OPM calendar pay periods for 2024 be the same as the previous year?

A: Not necessarily. The OPM calendar pay periods can vary from year to year depending on the fiscal year and federal holidays.

Conclusion

Understanding the OPM calendar pay periods is vital for federal employees to properly plan and manage their finances. The release of the OPM calendar pay periods for 2024 is expected in late September or early October. Federal employees should review the dates of the pay periods, the number of pay periods in the fiscal year, and the dates of federal holidays to plan their budget and expenses accordingly.