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The Leap year bonus - 27 paychecks this year !


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#1 of 13 Alex-C

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Posted March 01 2004 - 12:07 PM

If you are a salaried person and if you are paid bi-weekly and if your first check of this year was on Friday, January 4th, 2004, then you will be receiving an extra paycheck this year (unless your payroll department prevents it).

Apparently this occurs every 7 leap years or every 28 years (although I admit I am too lazy to do the math): normally, a person in that situation gets 26 paychecks, bi-weekly, for a total of 52 weeks.

But this year, there will be 27 paychecks with the final paycheck arriving on the last day of the year (Friday, December 31st, 2004).

yee-haw !
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#2 of 13 Craig Robertson

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Posted March 01 2004 - 12:27 PM

hmmm, January 4th was a Sunday. probably works if you got paid on the 2nd, tho. i got paid on the 9th.

#3 of 13 Kevin T

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Posted March 01 2004 - 12:28 PM

oops...craig beat me too it
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#4 of 13 DaveF

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Posted March 01 2004 - 12:30 PM

I've not done the math, but our payroll department indicated it occurs every 12 years -- a "calendar anomaly".

Of course, our payroll department spun it as a "ooh, we're giving you extra money" in order to draw our attention away from the negative payroll modifications that effectively decreased our take home pay.

But now my division has been sold and I don't know what the new company's policy is for this "anomaly".

And back when I was a graduate student the university just didn't pay us that pay period Posted Image

#5 of 13 DonRoeber

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Posted March 01 2004 - 01:21 PM

I get paid once a month, on the last workday of the month. Ah well.
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#6 of 13 Wayne Bundrick

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Posted March 01 2004 - 01:34 PM

It's not really an anomaly, it's no different from those months that will have three paychecks instead of two. The paycheck I got on January 2 includes the last eight working days in 2003 and two days in 2004. It's not like there are 27 pay periods, that's for damn sure.

And regardless of company policy regarding this, I've got my own policy: if I don't get paid for the work I did, I don't come back to work Monday morning.
Wayne Bundrick

"It tastes like there's a party in my mouth and everybody's throwing up!" -- Philip J. Fry

#7 of 13 Ken Chan

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Posted March 01 2004 - 05:34 PM

It's because a regular year is 52 weeks plus one day; leap year is plus two days. So eventually, those extra days add up to two weeks. Depending on when you start (whether it's a leap year or not), every 12 years sounds in the right ballpark -- I refuse to do the math as well Posted Image

If you're monthly or twice a month, then no joy for you. In fact, I suppose you get no extra pay for working that extra day, if you do work on it. (This year it was Sunday, but other years....)

#8 of 13 Carlo Medina

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Posted March 01 2004 - 05:58 PM

Hope it doesn't put any of you in a higher tax bracket! Posted Image Posted Image

I'm so jealous - first of the month for me, only 12 a year. Posted Image

#9 of 13 Daryl Furkalo

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Posted March 02 2004 - 05:11 AM

Works out for me on bi-weekly Thursdays!

#10 of 13 MikeAlletto

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Posted March 02 2004 - 10:06 AM

But if your payroll department has any sort of brains you may get an extra check but you will still make the same amount at the end of the year.
Michael Alletto

#11 of 13 Bryan X

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Posted March 02 2004 - 11:22 AM

You're not really getting 'extra' money. Those 27 paychecks are for 54 weeks of work as opposed to the regular 26 paychecks for 52 weeks of work. It just that because of the leap year AND your regular payday falling on Jan 1 or 2 that there happens to be an 'extra' payday in the calendar year.

But make no mistake, those 27 pays are for 54 weeks of work.

#12 of 13 Kevin Thompson

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Posted March 03 2004 - 02:02 AM

So next year I have to take a pay cut. Crap.

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#13 of 13 Wayne Bundrick

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Posted March 03 2004 - 04:30 AM

Like I said, the first paycheck of the year was for a week and a half of work performed last year.

But the IRS doesn't care. As far as they're concerned, I will have earned more in 2004 and will be taxed accordingly.
Wayne Bundrick

"It tastes like there's a party in my mouth and everybody's throwing up!" -- Philip J. Fry




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