What is open or closed on Memorial Day? When is the holiday? Banks, mail, stock market and more
Americans will soon celebrate Memorial Day, but what will be open or closed during the holiday?
Here's what we know about banks, the stock market, USPS mail delivery and more on Memorial Day:
Memorial Day is on Monday, May 26, 2025.
Most banks will be closed on Memorial Day, May 26, 2025, according to The Federal Reserve.
The stock markets on New York Stock Exchange (NYSE), Nasdaq and the Securities Industry and Financial Markets Association (SIFMA) are all closed for trading on Memorial Day, May 26, 2025. SIFMA will also close early at 2 p.m. ET on Friday, May 23, 2025.
The United States Postal Service will be closed and mail will not be delivered on Memorial Day, May 26, 2025.
FedEx Custom Critical will be open on Memorial Day, May 26, 2025, but all other delivery options are expected to be closed.
There will be no UPS delivery and pickup services on Memorial Day, May 26, 2025, but the UPS Store may be open at select locations. UPS Express Critical is available.
Yes. State employees do not work on Memorial Day in Indiana.
In 2026, Memorial Day will fall on Monday, May 25.
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Meanwhile, 23 years of annual surveys from national pollster Gallup find that up to 90% of retirees require their monthly benefit, to some degree, to make ends meet. Getting as much out of Social Security isn't a luxury -- it's often a necessity. But beginning sometime this summer, select retirees can expect their Social Security checks to shrink by up to 15%. For some of these beneficiaries, it's income they simply can't afford to lose. For well over six decades, the federal government has played a role in subsidizing and guaranteeing student loans. As of April 2025, the U.S. Department of Education (DOE) notes that 42.7 million Americans had a cumulative $1.6 trillion in federal student loans outstanding. However, the collection of federal student loan repayments was halted during the early stages of the COVID-19 pandemic (March 2020) and was simply never lifted. According to the DOE, more than 5 million borrowers haven't made a payment in 360 days, and another 4 million are between 91 and 180 days late on their monthly payments. While higher education student loans may sound like something that affects relatively younger Americans, they've become a prominent issue for retirees. Whereas the aggregate number of student loan borrowers under the age of 62 has declined by 1% from 2017 to 2023, the number of student loan borrowers aged 62 and above has surged 59% to approximately 2.7 million over the same period, based on data from the Consumer Financial Protection Bureau (CFPB). Per the CFPB, an estimated 452,000 of these senior borrowers have defaulted on their federal student loans and are likely receiving Social Security benefits. Since President Donald Trump took office in January, his administration has targeted perceived government fraud and is aiming to make federal operations more efficient. 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Rather, communications sent out provide just 30 days' notice that garnishments are possible if borrowers are still in default. According to the CFPB, 37% of the Social Security beneficiaries who have a federal student loan outstanding (delinquent or not) currently rely on their monthly check from America's leading retirement program for 90% (or more) of their income. Even a 15% garnishment for defaulted borrowers in this category has the potential to be financially devastating. It goes without saying that the easiest way to avoid this new garnishment by the Trump administration is to not be in default on your federal student loan(s). But for the roughly 452,000 Social Security retirees set to be impacted by this change in policy, there are two under-the-radar yet perfectly legal solutions that should allow a majority to avoid having their payouts garnished. To begin with, some of these defaulted borrowers may qualify for the Total and Permanent Disability (TPD) discharge program, which cancels federal student loans and stops forced collections. As the CFPB pointed out in a January research report, the DOE entered into a data-matching agreement with the SSA in 2021 to automate the TPD eligibility and federal student loan cancellation processes for beneficiaries who become disabled prior to reaching full retirement age (currently age 67 for anyone born in or after 1960). However, this TPD application process is failing Social Security beneficiaries who become permanently disabled after they reach full retirement age. The CFPB notes that the onus of applying for a TPD discharge of their federal student loans and/or garnishment falls onto aged beneficiaries. Census survey data shows that approximately 22% of Social Security recipients with federal student loans report having a permanent disability, per the CFPB's report. Social Security retirees currently in default on their federal student loan(s) can also potentially avoid having their monthly check garnished by applying for a financial hardship with the DOE. Defaulted borrowers will be required to provide documentation of their income and qualifying expenses to the DOE. If an individual's qualifying expenses are larger than their documented income -- especially pertaining to a possible 15% garnishment of their Social Security payout -- the DOE will likely grant a financial hardship exemption. Based on data from the Federal Reserve Board's Survey of Household Economics and Decisionmaking, the CFPB estimates that a whopping 82% of Social Security beneficiaries currently in default on their federal student loans would qualify for the hardship exemption -- in other words, their qualified expenses would exceed their documented income. Yet, a 2015 Government Accountability Office report found that fewer than 10% of Social Security recipients with forced federal student loan collections applied for a hardship exemption. If delinquent borrowers were to simply apply for this financial hardship with the DOE, a majority would likely be granted it. If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known could help ensure a boost in your retirement income. One easy trick could pay you as much as $23,760 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Join Stock Advisor to learn more about these Motley Fool has a disclosure policy. A New Social Security Garnishment Is Set to Begin This Summer -- but There Are 2 Legal Ways Most Retirees Can Avoid It was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
