Will the Expected IRS Staff Cuts Delay my 2025 Tax Refund? | CBS News

The federal government’s downsizing efforts have extended to the Internal Revenue Service, where thousands of positions are expected to be cut in the middle of the busy tax season. While most taxpayers likely won’t encounter any trouble with their returns, there may be delays for anyone who needs to reach out to the IRS for customer service.

The Unsung Economic Engine: Retiree Pension Spending | Forbes

An annual analysis from the National Institute on Retirement Security highlights the significant contributions retirees make to local and national economies. Their pension spending results in $1.5 trillion in economic output and supports 7.1 million jobs nationwide, according to NIRS. On a more local level, PERA paid $4.55 billion in benefits to more than 114,000 retirees who lived in Colorado 2023, resulting in $7.1 billion in economic output and supporting more than 28,000 jobs.

401(k) Millionaire Ranks Up 27% in 2024, Says Fidelity | 401k Specialist

Retirement plan recordkeeper Fidelity says its data show a significant increase in the number of people with over a million dollars saved for retirement last year. The company noted a 27% increase in 401(k) “millionaires” over the course of 2024, most of them members of the Baby Boom generation and Generation X. On average, they’ve been saving for 26 years and contribute 17% of their income to their retirement accounts, according to Fidelity.

More Older Adults Living Disability-Free Lives, and That’s ‘Extremely Encouraging,’ Researcher Says | McKnight’s Senior Living

We know people tend to live longer than they did generations ago, and new research sheds some light on the quality of that extended lifespan. A recent analysis finds that the percentage of older Americans who say they’re living without a disability has increased in recent years—reaching 65% in 2017.

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