Retirement

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.

When employees receive ongoing financial coaching, most can make dramatic improvements to their finances, which is why financial wellness programs are one of the fastest-growing employee benefits, says a new survey.

Not getting complacent, public sector pension plan managers are building for the long-term by increasing spending on advanced tools that offer a more realistic insight into changing markets, says a new report.

The software provider was accused of mismanaging its profit-sharing 401(k) plan and failing to fulfill its fiduciary duties by diversifying the plan's assets, which resulted in significant losses, according to the Labor Department.