What does "semi-monthly" mean?

semi monthly meaning: Repeating occurrence twice a month, on fixed dates (the 1st and 15th, or 15th and 30th). In payroll terms, this would mean employees are paid twice per month vs 22, which would total 24 per year. The pay period is different from the bi weekly one which happens every two weeks, and their is 26 pay periods in it. For salaried employees, the semi-monthly pay structure ensures predictably scheduled work and simplifies budgeting both by the employer and the employee.