Millions of Americans Set to Receive March Bonus Checks – Criteria Met?

Leap Year Brings Extra Paychecks: Full-Time Workers on Bi-Weekly Schedule to Rejoice

According to US Sun, several Americans are in for a pleasant surprise, as they may receive an extra paycheck, thanks to the unique timing of Leap Year. A specific group of full-time workers who meet certain criteria will benefit from this additional payment, as reported by Cleveland, Ohio’s Fox affiliate WJW. To qualify, individuals must be on a bi-weekly pay schedule with paydays falling on Fridays and must have received their first paycheck of the year on January 5. Those who meet these requirements can expect to receive their usual paychecks on March 1 and March 15, with an additional bonus paycheck arriving on March 29.

Although not a direct government payment or stimulus, this extra paycheck serves as an unexpected bonus earned through regular work. Chanelle Bessette, a banking specialist with NerdWallet, likened it to a mini windfall or bonus that may not have been factored into typical monthly budgets. Bi-weekly workers who meet the criteria for March will experience a similar three-check month in August, while those outside of these criteria need not fret, as they will still encounter three-check months at some point during the year, albeit possibly in different months depending on their pay schedule.

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Millions of Americans Set to Receive March Bonus Checks – Criteria Met?(PHOTO: getty image)

This bonus paycheck phenomenon stems from the structure of the calendar year and the bi-weekly pay schedule common among many American workers. With approximately 52 weeks in a year and bi-weekly payments, workers typically receive 26 paychecks annually. Due to the irregular lengths of months and the calculation of bi-weekly payments, there are occasional months where an extra paycheck occurs. As individuals anticipate this unexpected windfall, financial experts advise careful consideration of budget allocation, suggesting options such as debt repayment, saving, investing, or indulging in personal treats.

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