CEO pay at 300 firms increased by $2.5 million to an average of $10.6 million, while median worker pay increased by $3,556 to an average of $23,968.

In a new report, HR professionals outlined some of the trends they sees driving hiring practices as well as some of the challenges it will have to overcome in an evolving market.

Companies are seeking higher premium increases, mostly due to rising prices paid to hospitals, doctors and drug companies, as well as increases use of services by enrollees.

WTW's Salary Budget and Planning Report found that companies are budgeting an overall average increase of 4.1% for 2023, which will result in pay raises.

The rather lackluster performance of markets this year could see an average rate of return for state pensions at -6%.

Retirees are facing challenges not seen in other generations. These challenges are creating risks when it comes to their retirement plan.

National Endowment for Financial Education recently surveyed 1,050 U.S. adults who identify as LGBTQIA+ community members on a broad range of issues regarding their interactions with the financial services industry and their own financial quality of life.

One consequence of these inflationary pressures is a potential increase in the cost of living adjustment (COLA) for Social Security beneficiaries in 2023.