As of March 30, 2022, the Senate has begun to review the Securing a Strong Retirement Act of 2022, which calls for multiple improvements revolving around saving for retirement. The draft as of now calls for increases in catch up provisions in retirement accounts based off costs of living, increases based off inflation for qualified charitable distributions, reducing the excise tax imposed on those who miss their required minimum distributions, delaying the starting age for required minimum distributions, and other benefits pertaining to employer-sponsored retirement plans.
We are excited to be featuring Grace Rohrwasser this week in our Employee Spotlight! Grace has been a part of the team for over a year now and we are so happy to have her working alongside us within our Operations and Marketing departments! Learn more about Grace here!
The bond market had its worst quarterly return in decades, down 6% as bond yields rose during the quarter and the Federal Reserve sharpened its focus on inflation. Bond prices move inversely with yields. The unemployment rate now at 3.6%, is near pre-pandemic levels but inflation continues to stay stubbornly elevated. The Federal Reserve raised interest rates by a quarter percentage point after its March meeting, the first-rate increase since 2018, and signaled six more increases for the year. As the Federal Reserve’s plans for fighting inflation became clearer, the bond market responded by quickly adjusting yields higher across the entire curve.
We are excited to be featuring Dan Zalipski this week in our Employee Spotlight! Dan has been a part of the Vantage team for over 14 years and we are so appreciative of all his hard work and dedication to the team!