Posts tagged wage payment.
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3 minute read
There is an unusual wage issue for 2015 that will affect many employers that pay exempt employees on a bi-weekly basis (rather than weekly, semi-monthly or monthly).
It is an issue that may have both financial and legal repercussions.
And it is an issue we suspect many employers had not noticed or considered.
With 52 weeks in a year, there normally are 26 bi-weekly pay periods in a calendar year. In 2015, however, there will be 27 for many employers.
This oddity occurs every 11 years. In short, it happens because 26 bi-weekly paychecks only cover 364 days in a year, not 365 (or 366 in Leap ...
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