Retirement insights from a Colorado PERA perspective

A distant view shows a mountainous landscape with sloping peaks, green trees in the foreground, and a cloudy sky above.

<h4 class="wp-block-heading"><a href="https://www.9news.com/article/news/health/coronavirus/guidance-booster-shots-covid-19-vaccine/73-5a06ff1a-8e57-4982-a044-658ac6ac646a" target="_blank" rel="noreferrer noopener">Breaking Down the Guidance for Booster Shots for the COVID-19 Vaccine</a> | 9News</h4>



Health officials in Colorado have given slightly different guidance than federal health officials on who is eligible for a third COVID-19 shot. Here’s what to know about who’s eligible in Colorado and where to get a booster shot.



<h4 class="wp-block-heading"><a href="https://www.vox.com/policy-and-politics/22702855/build-build-better-plan-medicare-negotiate-drug-prices" target="_blank" rel="noreferrer noopener">Can the US Cut Drug Prices Without Sacrificing New Cures?</a> | Vox</h4>



The latest federal proposal to rein in rising prescription drug costs would put a cap on the amount Medicare could pay for some drugs, with the goal of paying no more than 20 percent more than what other wealthy nations pay for the same drugs. Drug companies argue cost controls could limit their ability to produce new medications.



<h4 class="wp-block-heading"><a href="https://www.fool.com/investing/2021/10/07/is-the-backdoor-roth-ira-disappearing-before-our-e/" target="_blank" rel="noreferrer noopener">Is the Backdoor Roth IRA Disappearing Before Our Eyes?</a> | The Motley Fool</h4>



Lawmakers are considering a change that would eliminate the so-called “backdoor” Roth IRA. The backdoor strategy allows people whose income exceeds the limit to stash money away in a Roth IRA tax-free by taking advantage of a loophole.



<h4 class="wp-block-heading"><a href="https://www.copera.org/news-you-should-know-whos-eligible-for-a-covid-19-booster-in-colorado" target="_blank" rel="noreferrer noopener" class="broken_link">U.S. News Ranks the Best Places to Retire in the U.S. in 2021-2022</a> | U.S. News &amp; World Report</h4>



U.S. News &amp; World Report ranked U.S. cities on a number of factors, including desirability, affordability, and access to health care, to determine which cities are the best places for retirees to live. See which state dominated the top 10 and where Colorado cities landed on the list.



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

News You Should Know: Who’s Eligible for a COVID-19 Booster in Colorado?

<h4 class="wp-block-heading"><a href="https://401kspecialistmag.com/u-s-slips-a-spot-in-2021-global-retirement-index/" target="_blank" rel="noreferrer noopener">U.S. Slips in 2021 Global Retirement Index</a> | 401k Specialist</h4>



The United States is ranked in 17th place on the latest Global Retirement Index from Natixis, dropping one spot from last year. Iceland landed in the top spot for the third year in a row, scoring highly on things like quality of life, access to health care and finances in retirement. The U.S. saw its scores drop in the quality of life, health and finance categories.



<h4 class="wp-block-heading"><a href="https://www.npr.org/sections/health-shots/2021/09/24/1040420009/booster-shot-for-covid-pfizer-science-do-i-need-one" target="_blank" rel="noreferrer noopener">Booster Shots Are Coming. Here&#8217;s How To Figure Out If You Need One</a> | NPR</h4>



Public health officials have given mixed answers on whether booster shots are necessary for COVID-19, but the FDA has approved boosters for older Americans and those at higher risk of becoming seriously ill. Here’s a detailed breakdown of who might benefit from an additional shot, as well as answers to other booster-related questions.



<h4 class="wp-block-heading"><a href="https://www.thinkadvisor.com/2021/09/22/new-bill-would-create-portable-retirement-and-investment-accounts/" target="_blank" rel="noreferrer noopener">New Bill Would Create Portable Retirement and Investment Accounts</a> | ThinkAdvisor</h4>



Saving enough money for retirement is a challenge for many people. A newly proposed bill aims to make it easier by providing every American with a portable retirement and investment account when they’re issued a Social Security number.



<h4 class="wp-block-heading"><a href="https://www.businessinsider.com/personal-finance/how-much-emergency-savings-retire-soon-2021-9" target="_blank" rel="noreferrer noopener">Retiring Soon? Here’s How Much to Have in Emergency Savings</a> | Business Insider</h4>



You’ve probably heard the common advice to keep three to six months’ worth of living expenses saved up in case of an emergency or large unexpected expense. But if you’re getting ready for retirement, you might want to consider stashing away some more cash first. Here are some tips for how much to save and how to use it.



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

News You Should Know: US Ranked 17th in 2021 Global Retirement Index

<a href="https://www.marketwatch.com/story/few-401k-participants-changed-portfolio-allocation-when-market-tanked-2021-02-23" target="_blank" rel="noreferrer noopener">Opinion: Few 401(k) participants changed portfolio allocation when market tanked</a> | Marketwatch



Financial experts often advise individuals to hold steady during times of market volatility rather than trying to “time the market,” which means guessing whether investments will go up or down in the short term. Data from Morningstar shows that during 2020’s market volatility, the vast majority of investors heeded this advice. About 19 out of 20 people in this dataset didn&#8217;t changed their allocation in the first quarter last year. People who use target-date funds were the least likely to change their holdings.



<a href="https://www.thedenverchannel.com/news/politics/as-legislative-session-gets-ready-to-restart-economic-recovery-tops-lawmakers-list-of-priorities" target="_blank" rel="noreferrer noopener">As legislative session gets ready to restart, economic recovery tops lawmakers&#8217; list of priorities</a> | The Denver Channel



Colorado’s legislature is back in session. Again. After a month-long hiatus, lawmakers are working through a growing pile of bills. Addressing the pandemic and economic recovery are the top priorities. But other issues, including transportation and education funding and police reform, made this list of pressing issues. (Note: PERA On The Issues monitors the legislature for any PERA-related legislation <a href="https://peraontheissues.com/2021-proposed-legislation-status/" target="_blank" rel="noreferrer noopener">on this page</a> and will provide updates as they occur.)



<a href="https://www.marketplace.org/2021/03/01/high-income-taxpayers-help-some-states-stay-above-water/" target="_blank" rel="noreferrer noopener">High-income taxpayers help some states stay above water</a> | Marketplace



Altogether, tax revenue collected by all 50 states dipped 1.9% last year between April and December. But not every state was created equal. In fact, 22 states actually increased revenues during that time. And Colorado was one of five states who finished the year up at least 5%. Why? The particular makeup of tax revenue streams varies from state to state. While Colorado has a big tourism industry, the state as a whole is less reliant on tourism than, say, Nevada. Tourism is an industry hit particularly hard in the past year. The number of higher-earning households, which have not experienced the same financial burdens as others for a variety of reasons, also has had an effect.



<a href="https://www.kunc.org/health/2021-02-25/going-the-distance-for-vaccines-in-the-mountain-west" target="_blank" rel="noreferrer noopener">Going The Distance For Vaccines In The Mountain West</a> | KUNC



Having an appointment to get vaccinated against COVID-19 is great…if you have a way to get there. Mobility challenges are nothing new, but the implications for vaccinating an entire population bring a new light to the issue. Some people might have access to public transportation or ride services, but those who live in rural areas might not have the same options. Johnson &amp; Johnson’s vaccine, which only requires one dose, could help.



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

News You Should Know: Investors Held Steady in 2020

Editor&#8217;s note: Since publishing, Coloradans who are 65 or older and educators have gained eligibility for the COVID-19 vaccine. <a href="https://www.copera.org/covid-19-vaccines-for-coloradans-what-you-need-to-know" target="_blank" rel="noreferrer noopener" class="broken_link">Check here</a> for the latest information from the state of Colorado.



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Key points from this story:



<ul>
<li>Colorado is taking a phased approach to vaccinating residents</li>



<li>Coloradans who are 65 years old or older can receive the vaccine now</li>



<li>PERA is not a health care provider and does not have vaccines to distribute</li>



<li><a href="https://www.copera.org/covid-19-vaccines-for-coloradans-what-you-need-to-know" target="_blank" rel="noreferrer noopener" class="broken_link">Check here</a> for the latest information from the state of Colorado</li>
</ul>



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Efforts are underway to inoculate Americans against COVID-19, but only the most at-risk residents are currently eligible to receive their vaccinations.



Determining who can receive a COVID-19 vaccine and when involves a number of factors, including vaccine supplies and availability, location, occupation, and age. Jessica Linart, director of insurance at Colorado PERA, said the unprecedented nature of the coronavirus pandemic and the accelerated vaccine rollout have led to a process that isn’t as straightforward as many might expect.



“It’s different from a flu vaccine where it’s widely available and you can go to the pharmacy or to your doctor’s office,” because vaccine supplies are so limited, Linart said. “Eventually this will look more like a normal vaccine process…but it’s not there yet.”



Here are answers to some questions PERA has received from members, as well as links to more information.



<h5 class="wp-block-heading">Is PERA providing vaccines for retirees?</h5>



PERA itself is not part of the COVID-19 vaccine distribution process. Federal and state authorities are working with local health authorities and medical providers to vaccinate residents, Linart said, so your state or county health department should be the first place you look to for information.



The providers that PERACare enrollees use might be involved in that process, however.



Kaiser Permanente – one of the insurance carriers that provides coverage under PERACare – is also a medical provider and is providing COVID-19 vaccines to eligible residents. <a href="https://healthy.kaiserpermanente.org/colorado/health-wellness/coronavirus-information/covid-vaccine" target="_blank" rel="noreferrer noopener">Click here</a> for more information.



PERACare’s other carrier, Anthem, is solely an insurance carrier and is not administering vaccines. Those who are enrolled in Anthem’s PERACare plans can still get vaccinated—they can use the resources listed below to find a location.



<h5 class="wp-block-heading">How do I know if I’m eligible for the vaccine?</h5>



Colorado’s vaccine distribution plan is split into multiple phases, with the highest-risk groups in the first phase and the lowest-risk groups in the last phase. The state is currently in Phase 1, which contains several subgroups.



The groups Colorado currently is vaccinating include:



<ul>
<li>Phase 1A
<ul>
<li>Health care workers with direct contact with COVID-19 patients</li>



<li>Staff and residents of long-term care facilities</li>
</ul>
</li>



<li>Phase 1B.1
<ul>
<li>Coloradans who are 70+</li>



<li>Health care workers with less direct contact with COVID-19 patients</li>



<li>First responders</li>



<li>Correctional workers</li>



<li>Funeral service workers</li>
</ul>
</li>
</ul>



Beginning Feb. 8, Coloradans in Phase 1B.2 will be eligible for the vaccine. That includes:



<ul>
<li>Coloradans who are 65-69 years old</li>



<li>Educators (teachers and school staff)</li>



<li>Workers in licensed child care programs</li>



<li>Members of Judicial/Executive branches of state government</li>
</ul>



<figure class="wp-block-image size-large"><a href=""><img decoding="async" src="https://content.copera.org/covid-19-vaccines-for-coloradans-what-you-need-to-know/"" class="wp-image-4087"/></a></figure>



<h5 class="wp-block-heading">How do I know when and where I can be vaccinated?</h5>



This depends on the facility. Some allow you to reserve a spot while others ask you to wait to be contacted when it’s your turn.



To find a vaccine provider near you, head to <a href="https://www.copera.org/covid-19-vaccines-for-coloradans-what-you-need-to-know" target="_blank" rel="noreferrer noopener" class="broken_link">Colorado’s website</a>. There you’ll find a map of vaccine locations as well as a list of providers by county. If you’re outside Colorado, visit the <a href="https://www.cdc.gov/coronavirus/2019-ncov/vaccines/index.html" target="_blank" rel="noreferrer noopener" class="broken_link">CDC’s vaccine website</a> and choose your state/territory under “How do I get a vaccine?”



<h5 class="wp-block-heading">Do I have to pay for the vaccine?</h5>



No. The vaccine is available free of charge, with no copay, regardless of your insurance plan. A vaccine provider cannot turn someone away because they don’t have insurance.



Beware of scammers who are using the COVID-19 pandemic to take advantage of people. Don’t give out any personal information online or over the phone, beware of any advertisements that offer to move you ahead your place in line for a fee, and only use official providers listed on the state’s COVID-19 vaccine website. <a href="https://www.colorado.gov/pacific/cbi/identity-theft-fraud-and-cyber-crimes-victim-support" target="_blank" rel="noreferrer noopener">Click here</a> for more information from the Colorado Bureau of Investigation.



<h5 class="wp-block-heading">I have more questions about the vaccine; who can I ask?</h5>



Check <a href="https://www.copera.org/covid-19-vaccines-for-coloradans-what-you-need-to-know" target="_blank" rel="noreferrer noopener" class="broken_link">Colorado’s website</a> or your county health department for the most up-to-date information.



More information is also available over the phone by:



<ul>
<li>Calling the state’s 24-hour hotline at 1-877-CO-VAX-CO (1-877-268-2926)</li>



<li>Calling 211 or 866-760-6489 (available from 8 a.m. to 5 p.m. Monday through Friday)</li>



<li>Texting your ZIP code to 898-211</li>
</ul>



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Tag Archives:

News You Should Know: Who’s Eligible for a COVID-19 Booster in Colorado?

News You Should Know: US Ranked 17th in 2021 Global Retirement Index

News You Should Know: Investors Held Steady in 2020

COVID-19 Vaccines for Coloradans: What You Need to Know

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