Will you have 27 pays in 2015
Will you have 27 pays in 2015?
Friday is the most popular pay date of the week, and looking far ahead to year end, January 1, 2016 will fall on a Friday.
Since employers and banks will be closed to observe the New Year’s Day holiday, employers that pay biweekly will probably move that pay date to either Thursday, December 31, 2015 or Monday, January 4, 2016. This change is important to Ohio Deferred Compensation, since we track employee’s total deferrals by year to make sure they stay under the annual maximum limits imposed by the IRS. We will contact these employers later this year to understand how they will handle this pay date.