Interest Rates May Stay Higher for Longer. What That Means for Consumers | CNBC

The Federal Reserve has been keeping its key interest rate steady so far this year, but experts say increases are likely in the future as inflation remains above the central bank’s 2% target. The Fed rate remaining higher for longer can have implications for the interest rates on consumer debt like credit cards and loans.

Why Medicare Consumers Could See Higher Part D Premiums in 2027 | USA Today

Some Medicare enrollees could see their prescription costs rise next year due to a change in federal policy. The Centers for Medicare and Medicaid Services announced an end to Medicare Part D subsidies that had been in place since the Biden administration and was intended to help keep plan premiums lower. The change only applies to individual Part D prescription plans, not Medicare Advantage plans like those offered through PERACare. We will have information available on PERACare plans and premiums in early October, and encourage enrollees to explore all options to find the coverage that’s right for them.

Treasury, IRS Lay Groundwork for New Saver’s Match Retirement Benefit | Plansponsor

The federal government is working to finalize rules for the new Saver’s Match, which replaces the Saver’s Credit for lower-income workers. The Saver’s Match, which was part of the major retirement bill known as SECURE Act 2.0 in 2022, takes effect in 2027 and will allow the government to deposit matching contributions directly into an eligible worker’s retirement savings account such as a 401(k) or IRA.

More Than 3 in 4 Retirees Regret Not Saving Sooner. How Do You Compare? | Investopedia

The results of a recent survey reinforce the importance of early retirement planning and saving. According to the TIAA Institute, 76% of retirees say they regret not saving for retirement earlier in their career, and 71% wish they had saved more. In addition, nearly half said they wished they had done a better job of planning for costs associated with healthcare and long-term care.

News You Should Know is a digest of news from publications around the nation about finance, investing, and retirement.