3
How to Enroll in, Change or
Cancel Direct Deposit
How Direct Deposit Works
THE BASICS
Your entire benet must be deposited in a single account. The
university can’t send part of the benet as direct deposit and
part of it as a check. Nor can it send direct deposits to banks
outside the U.S.
WHEN FUNDS ARE AVAILABLE
UC sends the net amount of your monthly benet to your bank,
by way of an automated clearinghouse, so that the funds are
available to you on the rst of each month.
If the rst falls on a weekend or holiday, your deposit will be
available on the last banking day of the previous month, except
in December. The direct deposit date for December benet
payment is the rst business day in January.
To see all scheduled direct deposit dates for the year,
go to ucnet.universityofcalifornia.edu/retirees/
retirement-benet-direct-deposit-dates.html.
ACCESSING STATEMENTS
You can view and print your monthly income statements
by logging in to your account on UCRAYS and selecting "Benet
Payments" in the left menu. Statements are available on the rst
of each month and up to 18 months of statements are available.
ACCOUNT TYPES YOU CAN USE
You may use a checking, savings or trust account.
If you are using a trust account, it must be a grantor-type trust
established for your benet. The trust’s tax identication
number must be your Social Security number.
If you’re a UC employee and use direct deposit for your wages,
you can elect to continue the service when you make your
retirement election. If you don’t already use direct deposit, you
can sign up for it when you retire or anytime thereafter.
If you are retired, you may sign up, change or cancel direct
deposit at any time.
The most convenient and quickest way to sign up is online, by
logging in to your account on UCRAYS. Select "My Account" on
the left side menu and then click "Benet Payment & Taxes" and
follow the instructions.
You can also use the Direct Deposit for Monthly Benet form
(UCRS 160), available on UCnet.
If you use this form and want your benet deposited to a
checking or trust checking account, you must attached a voided
blank check with the name imprinted on it, or have your nancial
institution complete section 4, to conrm your account number
and nancial institution.
If you want your benet deposited to a savings or trust savings
account, your nancial institution must complete section 4 of
the form.
PROCESSING DEADLINES
Typically, for direct deposit to take eect at the beginning of
the following month, you generally must sign up by mid-month,
subject to processing deadlines. Until direct deposit takes eect,
your check will continue to be mailed to you.
If you decide to cancel direct deposit, it’s best to do so no later
than mid-month so the cancellation will take eect at the
beginning of the following month. Processing deadlines will
determine the eective date.
KEEP UC INFORMED OF CHANGES
Once you have direct deposit, you must notify UC right away if
you change your bank or bank account or update your direct
deposit online. You can make the change through your UCRAYS
account, or by contacting the UC Retirement Administration
Service Center at 800-888-8267. To avoid an interruption in
direct deposit, you may want to keep your old account open
until you’re sure that your direct deposit is being transmitted to
your new bank or account.