If you are on one of these pay plans then, twice a year, you receive an extra paycheck. The reason I call this an extra paycheck is because ten months out of the year you receive, and live on, two paychecks a month. However, twice a year you will receive three paychecks a month. Now for those who are paid weekly, stick with me, you also need to look for the months where you will receive five paychecks instead of four and apply the same process I will detail below.