This latest notice, which gives employers until the end of 2025 to make most changes to their 401(k)s, impacts provisions of CARES and Relief Acts that were not addressed by previous deadline extensions.

"At the local level, companies looking to mitigate the increased costs are using a familiar set of strategies," the 2023 Global Medical Trends Report from Aon says.

The new BenefitsPRO and ADP report outlines how the role of HR has grown at a time when companies are scrambling to attract and retain employees, who have a range of new issues and options.