Be Ready for 2025
12/17/2024
As the end of the calendar year draws near, we would like to remind you about a few tasks that you will need to complete in December and January.
If you have any employees enrolled in a 403(b) or 457(b) retirement plan, you will need to roll over their enrollments:
Note: This step is only necessary if you use the formal 403(b) and 457(b) enrollment process to track yearly contribution maximums. If your 403(b) and 457(b) payroll items have the type “Retirement,” this step is not necessary.
For schools in Illinois: You should have received your 2025 IMRF benefit contribution rates by now. See this KB article for instructions on where to find the new rates and how to update SchoolInsight before your first 2025 payroll run:
As the Q4 941s come due, remember to pay careful attention to any balances due or overpayments on the federal 941. If there is ANY balance due or overpayment, please email us at [email protected] for assistance (even if it’s a small amount).
Finally, all 2025 tax forms are now available on our website, so you can begin work on them as soon as you have finalized your last payroll runs.
Happy holidays!
The SchoolInsight Financials Team