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We’ve discussed the debt ceiling crisis in past articles, and now it’s back in the headlines. What does this mean, and why are we watching it now? Several months ago, the U.S. borrowed as much money as it’s legally allowed to borrow and, since then, has been prohibited from borrowing more. In the language of the headlines, we have hit the debt ceiling.

If that sounds like an awkward situation, it is. It also raises very real economic and market risks, which are being played out in the news. Let’s analyze in detail what this all means.

Presented by Rich Fitzer

On December 29, 2022, President Biden signed into law the Consolidated Appropriations Act, 2023, an omnibus spending bill that includes the SECURE 2.0 measure (a.k.a. the Securing a Strong Retirement Act 2.0). Broadly, SECURE 2.0 is intended to make retirement saving more straightforward and accessible to a wider range of people. As such, it encompasses many aspects of financial planning and retirement saving. With time, as the new law is interpreted and applied, nuances will become clearer. Until then, individuals will have to interpret the law’s effects based on its language and any guidance the IRS issues. SECURE 2.0 includes a host of provisions affecting the rules for qualified retirement plans (401(k), 403(b), etc.) and their administration. This article, however, addresses only key provisions pertaining to individual retirement savers (or accounts) and rules applicable to individuals rather than plan sponsors and administrators. The bill is quite broad (more than 4,000 pages), so we intend this article to be a high level summary addressing the items most likely to affect individuals.

Presented by Richard C. Fitzer

On October 21 2022, the Internal Revenue Service released Notice 2022-55, announcing cost-of-living adjustments that affect contribution limits for retirement plans and retirement accounts in 2023. The list below, though not exhaustive, highlights key changes that retirement plan sponsors should be aware of, as well as several limitations that remain unchanged from 2022:

As we encounter another downswing in the ongoing bear market, it’s only natural to be concerned and ask questions. Here’s where we are at the moment: using the S&P 500 as a measure, the markets are down 22 percent from the peak at the end of last year, and just under 14 percent from the end of the most recent rally in August. This year, there have been four drops and three rallies. We’re down quite a bit, and that doesn’t feel good. The question to ask is: what should we do about it? To figure that out, we need to look at two things.