"Semimonthly" refers to an event or occurrence that takes place twice a month. This schedule typically divides the month into two parts, often resulting in payments or activities happening on specific dates, such as the 1st and 15th or the 15th and the last day of the month. In the context of payroll, many employers pay their employees on a semimonthly basis. This means that employees receive their wages two times each month, which can help with budgeting and financial planning. Semimonthly pay periods are different from biweekly pay periods, which occur every two weeks.