Retirement

Most employees expect to work longer, indicating they plan to retire at age 65 (up from 64 in 2022), and need to save more than they did a year ago, according to Northwestern Mutual.

While most states are beginning to offer hybrid DB/DC plans, Alaska has chosen to move future hires into defined benefit retirement plans.

As a manager or owner, you need to set an example for others to follow by explaining how you take advantage of company benefits - at staff meetings, quarterly company gatherings or even just conversations over coffee.

The Federal Reserve resumed raising interest rates for the 11th time on Wednesday at a range of 5.25 to 5.5% in its campaign to curb inflation, although it is no longer forecasting a recession in 2023.

By tailoring financial wellness programs to employees' needs and investing in programs proven to retain employees longer, like student loan debt repayment, businesses can better guide employees to real financial health.

A new financial wellness partnership aims to address the "soaring rates of financial stress among employees of color" with financial technology tools, culturally relevant content and financial coaching and therapy.