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Leap Year Salary Calculation for Fiscal Year 2019-2020

The Office of the State Comptroller (OSC) has released Payroll Bulletin 1724 (attached) providing an explanation of OSC and agency procedures for the use of the Leap Year Salary Calculation. 

PEF members, You have likely noticed a change in their paycheck based on the fact that this fiscal year contains an extra day due to February 2020 having 29 days. Because a year does not divide equally into 26 pay periods, OSC calculates bi-weekly salary based on the number of days in the year. Annual salary is divided by either 365 or 366 days, depending on whether it’s a leap year, and then multiplied by 14 to arrive at the biweekly pay amount.

Please direct any questions to your PEF Field Representative.