The performance of stock and bond markets is dismal, inflation is soaring, and economic uncertainty is burgeoning as the Federal Reserve aggressively hikes interest rates in an effort to tame inflation. In spite of this challenging environment, there are positive developments underway. People increasingly say they are open to professional financial advice and more than four in 10 Americans say they have made up all or some of the financial ground they lost during the first year of Covid, according to one study.  

If the Senate passes SECURE 2.0, a version of which the House of Representative has already passed, the act will delay required minimum distributions (RMDs), expand catch-up contributions, and help people with student loans save more for retirement. Though it was placed on a temporary administrative hold by a federal appeals court in November, if allowed, the Biden Student Loan Debt Relief Plan could ease the financial burden of millions of Americans, offering up to $20,000 in student-loan forgiveness per eligible individual. 

As a defined-contribution plan sponsor, you can help as well.