Bi-weekly Pay Period Leap Year
So I was looking up my pay schedule for 2015, and noticed that since 2016 Jan 1st is a Friday, we get a stub on Dec 31st instead, which results in 27 pay periods.
Then further reading, it turns out some companies maintain at dividing by 26 on the annual (effectively a 2-4% increase for everyone) or dividing by 27 making each cheque a bit lower to make up for the 27th. And I read that reason why some keep it 26 is because of legal implications for lower paid individuals, it might breach laws on minimum wage if they divide the annual by 27 or 53. (Says here. Site in US though, so not sure if it applies to Ontario.)
What's your company doing for this, if you're paid biweekly?
Then further reading, it turns out some companies maintain at dividing by 26 on the annual (effectively a 2-4% increase for everyone) or dividing by 27 making each cheque a bit lower to make up for the 27th. And I read that reason why some keep it 26 is because of legal implications for lower paid individuals, it might breach laws on minimum wage if they divide the annual by 27 or 53. (Says here. Site in US though, so not sure if it applies to Ontario.)
What's your company doing for this, if you're paid biweekly?