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World of HR: China is increasing its retirement age

HR Brew

The Standing Committee of the National People's Congress, China’s legislative body, recently announced the retirement age will increase for the first time since the 1950s, the BBC reported. The country has one of the lowest retirement ages in the world, on par with India, Saudi Arabia, and Turkey. Where in the world? Starting in Jan.

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Walgreens will match 401(k) contributions to student loan payments in 2025

HR Brew

The pharmacy chain is the latest organization to take advantage of a new federal provision that allows employers to contribute to workers’ retirement accounts based on payments they make toward their student debt. of their income to retirement over a three-year period, on average, compared with a 5.7%

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At least 23 states are raising their minimum wage in 2025—here’s what it means for HR

HR Brew

Some 23 states—including California, New York, and Illinois—are currently set to raise their minimum wages in 2025. Increased compensation isn’t the only cost that employers should consider with wage hikes: There may be impacts on pay-based benefits, like health insurance premiums or retirement matches. 1 to $10.56, and then on Feb.

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HR in 2024: Shaping Tomorrow’s Workforce Through Bold Leadership

HR Digest

By 2025, they will represent a staggering 27% of the labor force, wielding immense economic power and wielding their voices as catalysts for change. As Baby Boomers and Gen Xers get closer to the ends of their careers, we’ll see a bigger emphasis from employees and employers on financial wellness and retirement preparedness.

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Employee Benefits: Traditional & Creative Trends

Affinity HR Group

Traditional benefits like health insurance, retirement plans, and paid time off serve as hygiene factors or factors that help prevent employee dissatisfaction. Retirement Plans Retirement plans are paramount for the long-term financial security of employees. This change will go into effect January 2025.

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2025 Contribution Limits: Retirement, FSA, HSA, and Commuter Benefits

Extensis

Quick look: A new year is quickly approaching, and with it comes a new set of contribution limits for retirement accounts, health savings accounts, flexible savings accounts, and commuter benefits plans. Employers and their staff should review these new figures set by the IRS and adapt their 2025 benefits plans accordingly.

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2025 FSA, HSA, Retirement Plan Contribution Limits

HRWatchdog

Get ready for 2025 — the Internal Revenue Service recently released the 2025 annual inflation adjustments for flexible spending arrangements (FSAs) and retirement plan contribution limits. Retirement Plan Contributions In 2025, individuals can annually contribute up to $23,500 to their 401(k) plans, up from $23,000 in 2024.