By TRACEY DRURY
Business First

If you've ever wished you could get just one extra paycheck, 2009 might be your favorite year - or not.

The calendar configuration this year creates an extra pay period for workers who are paid weekly or biweekly. That means some companies will see 27 or 53 pay periods. How to deal with the extra period is the tricky part.

"Sometimes in business, the most important thing to have is a choice," says Steve Sahlein, co-president of the American Institute of Professional Bookkeepers in Rockville, Md. "If you wait until Dec. 15 to make your decision, you may be stuck with the most expensive or the most unpleasant choice."

Dividing up an annual salary by 27 or 53 will mean employees will receive an extra check, but each one will be a little smaller than in a regular year. Some employers stick with 26 or 52 checks, with employees skipping a check in the other period. Others make the mistake of not addressing the issue and paying employees extra by default.

Either way, employers need to plan and, more importantly, keep employees informed about how they'll handle the issue. Waiting until the end of the year can cause an HR nightmare, says Francine Schaefer, president of HR On-Site Consulting in Amherst.

"It can be an emotional issue with employees if they think in any way, shape or form they're being treated unfairly," she says.

In most cases, Schaefer says, seasoned payroll managers know what to do and how to manage this issue, while those using payroll companies like ADP or Paychex should receive information and updates on the extra pay period.

The extra pay period also affects benefits. Companies that deduct an employee contribution for health insurance would need to make sure to deduct only from 52 or 26 checks, so employees would be paid a bit more for the extra period. Deductions for 401(k) accounts would come from all periods, however.

A final option is to adjust the date for the extra pay period to fall in the previous year, effectively eliminating the extra pay period altogether.

Dividing up a salary by 27 or 53 weeks, effectively reducing the regular pay - with employees potentially thinking they're being shorted - is something Tom McManus, branch manager for PayChoice Inc. in West Seneca, doesn't recall seeing in his 35 years in the payroll business.

"It's one quick way to antagonize your salaried individuals," he says.