Year End 2024
This web page provides the starting point for the 2024 HRMS year-end processes and activities. We will list and link all new postings and provide a schedule of year-end activities. We recommend that you review this page on a weekly basis to ensure you are aware of all new and updated information.
What's New
- Unemployment insurance taxable wage base $68,500 (11/6/2024)
- Social Security Wage Base Increases to $176,100 in 2024 (11/6/2024)
- 2024 General Instructions for Forms W-2 and W-3 (11/6/2024)
- 2024 W-2 Notice to Employees (Pending)
- 2024 1099R Information for Recipients (Pending)
Tips for a smooth Year End processing cycle
- Plan to attend the Personnel/Payroll Association meeting on November 21st via Teams.
- Reconcile and correct data that may impact 2024 wage and tax reporting information as early as possible.
- Research and correct employees who were locked out from the previous payroll. This includes employees that are currently inactive.
- Prepare Master Data updates for the current period as early as possible. Master Data updates for the December 24th pay date should be completed by close of business December 18, 2024 (Day 2).
- Execute payroll simulations for all master data updates and check for claims, redlines and funding issues.
- Reserve Day 3 for corrections, not for entering new data.
- Visit the 2024 Year End Schedule to help plan your agency processing strategy.