Remove 2025 Remove Compensation Remove Professional Employment Organization
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HR Year-End Checklist: 10 Critical Areas to Assess

Extensis

Quick look: As 2024 comes to a close, it’s time for HR professionals to review, reflect, and fine-tune their processes to ensure compliance, enhance employee satisfaction, and streamline operations. The end of the year is a busy time for business leaders, professionally and personally.

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Charter and Independent Schools Prepare for the Latest Federal Overtime Pay Rule

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As a result, charter and independent schools must evaluate their pay strategies to meet industry standards, preserve fair compensation among staff members, and maintain compliance with the ruling. Under the new rule, the total yearly compensation rate to be considered a HCE will rise to $132,964 by July 1, 2024.

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EBRI Study Overview: Balancing Student Loan Debt Payments with 401(k) Contributions

Extensis

However, increased pay isn’t always the ultimate deciding factor as people strongly consider benefits as part of a comprehensive compensation package. Consolidated Appropriations Act (CAA) The Consolidated Appropriations Act (CAA) benefit has been extended through December 2025.

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How the SECURE 2.0 Act of 2022 benefits your workplace

Insperity

In requiring employers to take actions that can improve their employees’ financial wellness, the SECURE 2.0 Act seeks to: Open access to 401(k) retirement plans to more people Provide greater opportunities to save Offer financial incentives to save while removing common barriers and penalties So, what does the law require of employers?

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Pay transparency: What you should know

Insperity

Some laws require salary ranges to be posted publicly, while others only require employers to provide wage information upon request or to internal employees. The information to be shared also varies – from providing salary ranges to sharing detailed compensation data. Why is pay transparency important?

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SHRM’s 2023 Employee Benefits Survey: What Brokers Should Know 

Extensis

Among the results are traditional benefits which remain top priority for employers with a few, newer ones to take note of as they grow in popularity. Retirement savings and planning are a close second SMBs are still focused on including retirement savings plans as part of their compensation packages.

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What SMBs Should Know About the 2024 Overtime Rule Salary Threshold

Extensis

The minimum salary threshold will get another increase on January 1, 2025; at this time, employees earning less than $1,128/week, or $58,656 per year, will be eligible for overtime pay. The rule also raises the minimum total compensation requirement. The exemption rate will increase again to $151,164 on January 1, 2025.