NEW YORK - Today is Martin Luther King Jr Day.

It's a federal holiday so the markets are closed and so are most banks.

President Ronald Reagan signed the holiday into law in 1983. 

It was not observed by all 50 states until 2000. 

President-elect Joe Biden is planning a virtual memorial event in King's honor ahead of his inauguration. 

Here in the city, tributes that usually attract large crowds are going virtual this year. 

The Museum of the City of New York is hosting a virtual workshop for children and families at 9:30 a.m. to honor Martin Luther King Jr. 

Beginning at 1:00 p.m., Hunger Free America will host a virtual rally to improve food access while advancing the conversation on MLK’s work on food and economic justice.

The Harlem Gospel Choir will bring their MLK show online this year at 3:00 p.m. The choir will be singing live from Manhattan's Sony Hall.