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Extra Pay Period in 2004

GoldieGoldie 1 Post
in Compensation Vote Up0Vote Down
I wanted to get a feel for what other private companies are doing about the extra Thursday and Friday in 2004 for salaried employees who are paid weekly on those days. Are you reducing each week's gross to equal the correct annual salary over the 53 weeks or just giving employees an extra check in '04? (If this has already been posted, please point me in the right direction)
Thanks.
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Comments

  • 2 Comments sorted by Votes Date Added
  • sonnysonny 2,117 Posts
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    Goldie, This was discussed before, back in August. .do a search for 27 pay periods in 2004 or just 2004. Good luck
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  • Don DDon D 9,834 Posts
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    It seems to me the answer would be based on what the employee's employment offer letter said. It's rare for an offer letter to guarantee an annual salary, in fact very few of them even mention the annual salary, for fear of some attorney claiming an annual guarantee. All of the offers I've extended over the past ten years have stated the salary of the pay period, either per month or bi-weekly (typically 26 in a year). That being the case, it would not be legal to decide to divide up the year by 52 and refigure the salary. If people (exempt or non-exempt) are guaranteed a weekly salary it would also not be legal to decide, based on the 04 calendar, to now decide to redo the math. Most employers might get away with it, but a few will be formally challenged.
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