2024 Year-End Newsletter 
President's Report
As I wrap up my 1st year as your Chapter President, I want to say thank you! Thank you for being a member. And thank you for continuing to support our chapter through your attendance at our meetings. Whether you attend the meetings in-person or virtually, we appreciate you. We are also pleased to announce that we will continue offering both options in 2025, with duel mics for better sound quality. And for those who haven't been able to attend a meeting, please give us a try. Whether you are looking for Education, RCH's or Networking, we offer something for everyone within the Payroll & HR community. Come on out to a meeting and see what we have to offer!
As we look forward to 2025 and celebrating our 40th year as a Chapter, I especially look forward to meeting more of you in person as well as growing our chapter in new and innovative ways.
Do you have an idea for a meeting topic or is there a speaker you would like to hear from again? Drop me a line and share your thoughts or ideas! You can email [email protected] or [email protected]
Recent Events
Statewide - What a great event! Held at Firekeepers Casino on October 16-18, featured 2 pre-sessions, 12 different sessions, premier speakers, great food, and lots of fun. And those that attended earned 11 RCHs!!
With over 150 attendees everyone had the opportunity to pick up some cool swag while chatting with various vendors and participating in the annual "stamp" game without stamps. We listened to speakers like Dr Martin Armstrong, Dr Lee Meadows and our very dear friend LuAnne Brown, CPP. Of course PayrollOrg President Jim Bolek was his usual funny and engaging self.
We hope all those that attended learned a lot, made new friends and had fun.
The 2025 Statewide Conference will be at Amway Grand Plaza in Grand Rapids - October 8th-10th. You won't want to miss it.
Legislative Updates
Social Security Wage Base for 2025 is $176,100 - up from $168,600 in 2024
FSA Limit is $3,300 with a $660 carryover
HSA Limits - Single $4,300 - Family $8,550 and for those 55 and older, and additional $1,000 catchup
Limitation on Exclusion for Elective Deferrals under:
§401(k) $23,500
§403(b) $23,500
§457 $23,500
§408 $16,500
&414(v) $7,500 (catchup and no change)
Annual Compensation Limit for §401(k) is $505,000
Secure Act 2.0, EE’s aged 60-63 are eligible for an additional $11,250 in Catchup Deductions
Meeting Space
Does your employer have a large conference room (capacity of 25) they are willing to rent out?
Similar to last year, we are looking for meeting spaces to host our monthly meetings.
You provide the space and we will do the rest - including set-up and clean-up after.
With rising costs everywhere, hosting the meetings outside of a restaurant or banquet facility allows us to keep our costs down significantly, which allows us to continue having in-person meetings, low membership renewal and low meeting fees.
National Payroll Week
Its never too early to start planning for National Payroll Week!
Have you ever wanted to teach high-school students about their paycheck? Please consider volunteering for Money Matters!!
Money Matters is a volunteer initiative created by PayrollOrg to equip high school students with essential money management skills. The program focuses on key financial concepts like budgeting, saving, responsible spending, and understanding paychecks. The aim is to empower teens and young adults with the knowledge and confidence to make informed financial decisions, avoid debt, and build long-term financial independence as they transition into adulthood and enter the workforce.
Volunteering for Money Matters is a meaningful way to make a lasting impact on the financial future of young people. By sharing your knowledge and experience, you help high school students develop critical money management skills they’ll carry into adulthood. Whether it’s teaching them how to budget, save, or understand their paychecks, your guidance will empower them to make informed decisions, avoid debt, and achieve financial independence.
Teaching topics include:
- How to fill out the Form W-4
- Understanding why and how payroll taxes are withheld from paychecks
- How paychecks are calculated
- The pros and cons of various payment methods available
Volunteers receive an easy-to-use curriculum and custom teaching materials to help them have a successful event. Additionally, volunteers earn 1 RCH for teaching a lesson and receive a special citation from PayrollOrg.
If you're interested in participating, please email [email protected] for more information.
