Will there be an extra paycheck in 2010?

[kranky]

We get paid every two weeks. For salaried people, the annual salary is divided by 26 and that's what you get paid. But in 2010, it so happens that there will be 27 paydays because the cycle has the first payday on Jan 1.

If they divide the annual salary by 27, then each paycheck will be a little more than 3% smaller. That would make the total pay for the year the right amount. If they keep everything the same, we'll get an extra paycheck during the calendar year 2010.

What would you expect?

 

[Engineer]

We get paid every two weeks. For salaried people, the annual salary is divided by 26 and that's what you get paid. But in 2010, it so happens that there will be 27 paydays because the cycle has the first payday on Jan 1.

If they divide the annual salary by 27, then each paycheck will be a little more than 3% smaller. That would make the total pay for the year the right amount. If they keep everything the same, we'll get an extra paycheck during the calendar year 2010.

What would you expect?

Technically, yes. Every so many years, there is one extra paycheck. My plant manager has talked about this several times. However, my company opted to move it to 2009 and paid everyone on 12/31 so we had 27 in 2009.

By the way, there was no reduction in my pay rate for that extra yearly check. My pay was lower because I didn't have enough vacation to cover the forced shutdown but the rate didn't change.

 

[IronWing]

You aren't getting paid by the year, really. The extra pay period reflects more days worked so you should get the same amount in pay each period.

 

[GeekDrew]

Yes, there will be, for bi-weekly paid employees. And it's no end of problems to payroll offices everywhere, most of which are short-sighted enough to assume that years are always exactly 26 periods. Laws stating that biweekly pay periods always equal 26 further compound the problem.

 

[vi edit]

I got 27 in 2009. The 31st was a goooood payday.

 

[Engineer]

Yes, there will be, for bi-weekly paid employees. And it's no end of problems to payroll offices everywhere, most of which are short-sighted enough to assume that years are always exactly 26 periods. Laws stating that biweekly pay periods always equal 26 further compound the problem.

I've heard that before. My plant manager stated to me a few years ago that the company controller actually had it correctly budgeted so that the extra paycheck would be accounted for.

 

[iamwiz82]

I got 27 in 2009. The 31st was a goooood payday.

Same here.