
<p>Retirement insights from a Colorado PERA perspective</p>



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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.cpr.org/2025/02/12/financial-literacy-high-school-graduation-requirement-bill/" target="_blank" rel="noreferrer noopener"><strong>Bill Would Require Colorado Students Take One Semester of Financial Literacy to Graduate | Colorado Public Radio</strong></a></h4>



<p>State lawmakers are considering a bill that would require financial education for high school students. Currently, only about a quarter of the state’s school districts require personal finance education. This bill would expand that to all districts in the state, with students being required to complete one semester of financial literacy in order to graduate.</p>



<h4 class="wp-block-heading"><a href="https://www.newsweek.com/republican-pressures-trump-official-fast-track-social-security-payments-2030309" target="_blank" rel="noreferrer noopener"><strong>Lawmaker Pressures Officials to Fast Track Social Security Payments | Newsweek</strong></a></h4>



<p>After the Social Security Administration (SSA) said it could take a year or more to implement the Social Security Fairness Act, at least one member of Congress is urging officials to find ways to speed up the process. Rep. Clay Higgins (R-LA) sent a letter to the acting SSA commissioner calling the current timeline “unacceptable.” The agency says it is dealing with a shortage of staff and funding as it works to implement the new law.</p>



<h4 class="wp-block-heading"><a href="https://www.denverpost.com/2025/02/18/colorado-tax-returns-filing-department-revenue-delay/" target="_blank" rel="noreferrer noopener"><strong>Colorado Tax Return Delay: State to Begin Processing Individual Returns | The Denver Post</strong></a></h4>



<p>The Colorado Department of Revenue says it will begin processing tax returns this week following a delay. A spokesperson said the department had to delay accepting returns in order to implement a number of significant changes to tax law.</p>



<h4 class="wp-block-heading"><a href="https://www.cnbc.com/2025/02/11/fed-chair-powell-says-central-bank-doesnt-need-to-be-in-a-hurry-to-lower-interest-rates-further.html" target="_blank" rel="noreferrer noopener"><strong>Fed Chair Powell Says Central Bank Doesn&#8217;t &#8216;Need to be in a Hurry&#8217; to Lower Interest Rates Further | CNBC</strong></a></h4>



<p>In testimony before the Senate Banking Committee, Federal Reserve Chair Jerome Powell told lawmakers the economy and job market are doing well and inflation remains above the Fed’s target of 2%. Because of those factors, he said he’s not in any hurry to lower interest rates further, as doing so too quickly could send inflation rising again.</p>



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


News You Should Know: Bill Would Require Financial Literacy Course for Colorado Students


<h4 class="wp-block-heading"><a href="https://www.theguardian.com/business/2025/feb/04/sovereign-wealth-funds-donald-trump-what-is-it-why" target="_blank" rel="noreferrer noopener"><strong>What is a Sovereign Wealth Fund and Why is Trump Creating One Now? | The Guardian</strong></a></h4>



<p>President Donald Trump signed an executive order directing the Treasury and Commerce Departments to create a sovereign wealth fund. Common in oil-rich countries like Norway and Saudia Arabia, sovereign wealth funds often serve as a national pool into which countries can invest surplus funds for the greater good.</p>



<h4 class="wp-block-heading"><a href="https://www.aarp.org/retirement/social-security/info-2025/survey-raising-taxes.html" target="_blank" rel="noreferrer noopener"><strong>Survey Finds Support for Raising Taxes for Social Security | AARP</strong></a></h4>



<p>The country may be sharply divided politically, but Americans can agree on the value of Social Security. In a new survey from AARP and the National Academy of Social Insurance, 85% of respondents said Social Security benefits should be maintained or increased, even if that means paying higher taxes. That support is consistent across party lines, with strong majorities of Republicans, Democrats, and independents all supporting increasing revenue.</p>



<h4 class="wp-block-heading"><a href="https://fortune.com/article/personal-finance-classes-are-popular/" target="_blank" rel="noreferrer noopener"><strong>Personal Finance Classes are the New Hotness on Campus | Fortune</strong></a></h4>



<p>In school districts around the country, there’s a growing emphasis on the importance of teaching financial literacy, and that trend continues into college. In fact, students are so eager to sign up for personal finance classes that some colleges and universities have waitlists for those courses.</p>



<h4 class="wp-block-heading"><a href="https://www.mcknightsseniorliving.com/news/public-health-worker-shortage-could-mean-challenges-long-term-care-providers/" target="_blank" rel="noreferrer noopener"><strong>Public Health Worker Shortage Could Mean Challenges For Long-Term Care Providers | McKnights Senior Living</strong></a></h4>



<p>A new report from the U.S. Government Accountability Office found there’s a significant gap between the number of public health workers needed around the country and actual staffing levels. The report said public health emergencies such as the COVID-19 pandemic exacerbated the issue, but the Department of Health and Human Services has taken some steps to address the shortage.</p>



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


News You Should Know: Trump Moves to Establish U.S. Sovereign Wealth Fund


<h4 class="wp-block-heading"><a href="https://coloradosun.com/2024/12/10/colorado-economic-forecast-2025/" target="_blank" rel="noreferrer noopener"><strong>Colorado Experts Predict What the Economy Will Look Like in 2025 | The Colorado Sun</strong></a></h4>



<p>Every year, local experts have the difficult task of taking stock of the state economy and predicting what a new year will bring. For 2025, experts say the state’s population continues to grow, albeit slower than in years past. And that slower growth rate could have a ripple effect on the job market as employers struggle to find enough employees to fill open positions.</p>



<h4 class="wp-block-heading"><a href="https://www.irs.gov/newsroom/irs-urges-many-retirees-to-make-required-withdrawals-from-retirement-plans-by-year-end-deadline" target="_blank" rel="noreferrer noopener"><strong>IRS Urges Many Retirees to Make Required Withdrawals by Year-End Deadline | Internal Revenue Service</strong></a></h4>



<p>If you’re retired and you have savings in a defined contribution plan like a 401(k), 457, or IRA, you’re likely required to make minimum required distributions (RMDs) by the end of each year. The IRS sent out a notice reminding retirees of the deadline and new rules enacted under the SECURE 2.0 Act.</p>



<h4 class="wp-block-heading"><a href="https://www.kiplinger.com/personal-finance/quiz-test-your-financial-literacy" target="_blank" rel="noreferrer noopener"><strong>Quiz: Test Your Financial Literacy | Kiplinger</strong></a></h4>



<p>How would you rate your financial literacy? Believe it or not, three simple questions can help you gauge your literacy. If you can correctly answer all three multiple-choice questions, you’re doing better than over half of all Americans.</p>



<h4 class="wp-block-heading"><a href="https://www.usatoday.com/story/money/personalfinance/real-estate/2024/12/10/how-america-can-age-in-plaec/76826197007/" target="_blank" rel="noreferrer noopener"><strong>Baby Boomers Are Aging, and Most Want to Stay at Home Forever | USA Today</strong></a></h4>



<p>A recently released survey from AARP finds that an overwhelming majority of Americans say they want to stay in their homes and their local communities while they age, but many are unsure they’ll be able to do so. Half of the survey’s respondents said they were not confident their current living situation will meet their needs in the future, and over half of that group said they expect to move.</p>



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


News You Should Know: How Will Colorado’s Economy Fare in 2025?


<p>April 2021 is Financial Literacy Month. Now in its eighteenth year, the month has kept its focus on the original goal, as stated in the original 2004 Senate Resolution: </p>



<blockquote class="wp-block-quote"><p>“to raise public awareness about the importance of financial education in the United States and the serious consequences associated with a lack of understanding about personal finances.”</p></blockquote>



<p>President Biden has also <a href="https://www.whitehouse.gov/briefing-room/presidential-actions/2021/03/31/a-proclamation-on-national-financial-capability-month-2021/" target="_blank" rel="noreferrer noopener" class="broken_link">proclaimed</a> April to be National Financial Capability month, saying: </p>



<blockquote class="wp-block-quote"><p>“High-quality financial education should build on and respond to people’s individual strengths, circumstances, and needs in order to help them work toward their own unique goals.”</p></blockquote>



<h4 class="wp-block-heading"><strong>What is “Financial Literacy”?</strong></h4>



<p>There is no single measure for financial literacy. Google “financial literacy quiz”, and you could spend an entire day taking tests. </p>



<p>For example, the National Financial Educators Council has created a half-dozen quizzes that ask general awareness questions on a wide array of topics (including <a href="https://www.financialeducatorscouncil.org/national-financial-capability-test/" target="_blank" rel="noreferrer noopener">standard</a> and <a href="https://www.financialeducatorscouncil.org/advanced-financial-education-test/" target="_blank" rel="noreferrer noopener">advanced</a> versions).</p>



<p>About 59% of more than <a href="https://www.financialeducatorscouncil.org/national-financial-literacy-test/" target="_blank" rel="noreferrer noopener">60,000 test-takers</a> passed the standard test referenced above, and the average score was 68%.</p>



<p>But what makes a particular personal finance topic relevant — paying off debt, owning a home, planning for retirement, and more — depends on the circumstances each person faces and the tools they have at their disposal. These, of course, can vary.</p>



<p>So, while quizzes like these are a fun way to gauge general awareness about financial topics, they aren&#8217;t the best measure of literacy on an individual basis. What, then, does it mean to be “literate?”</p>



<h4 class="wp-block-heading"><strong>Bridging the Gap Between Knowledge and Action</strong></h4>



<p>Financial knowledge can equip a person to make more informed decisions. But without action, knowing about personal finance adds nothing to a person’s net worth. A person who saves 3% of their salary in a 401(k) but who isn’t confident they know how a 401(k) works is probably better off than a person who knows every detail about 401(k) accounts but who has no savings and has no plan to start.</p>



<p>In a sense, a person achieves literacy when they implement financial knowledge into their life in a tangible way. It’s similar to learning a language: Memorizing vocabulary words on flash cards is an important step in learning, but it takes more than a vocabulary to have a conversation or become fluent.</p>



<p>PERA offers members a variety of tools and resources to bolster financial literacy. One way to help understand what’s available is to think about each resource as either education-oriented or action-oriented. A few examples are shown below:</p>



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<div class="wp-block-group"><div class="wp-block-group__inner-container is-layout-flow">
<figure class="wp-block-table alignleft"><table class="has-subtle-pale-green-background-color has-background"><thead><tr><th><strong>Education</strong></th><th><strong>Action</strong></th></tr></thead><tbody><tr><td><br>PERA partners with employers by offering free workshops about how to make sense of investing.</td><td>PERA members can enroll in a PERAPlus 401(k) with their employer or in PERAPlus 457 directly online. (more info <a href="https://www.copera.org/recap-of-pera-boards-september-meeting" target="_blank" rel="noreferrer noopener" class="broken_link">here</a>)</td></tr><tr><td>PERA offers <a href="https://www.copera.org/members/webinars" target="_blank" rel="noreferrer noopener">webinars</a> about planning for retirement.</td><td><br>Refine your own individual retirement plan. <a href="https://content.copera.org/are-public-sector-workers-satisfied/" target="_blank" rel="noreferrer noopener">Meet</a> with a PERA representative if you have additional questions about your PERA benefit.<br></td></tr></tbody></table></figure>



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<h4 class="wp-block-heading"><strong>The Importance of a Plan</strong></h4>



<p>Financial literacy is important. While it takes more than simply memorizing financial principles to reap the rewards, having a baseline of knowledge is an invaluable part of becoming financially secure. Not surprisingly, a lack of financial knowledge is a <a href="https://www.thebalance.com/overcome-excuses-and-save-money-4129534" target="_blank" rel="noreferrer noopener">common</a> <a href="https://www.thesimpledollar.com/save-money/not-saving-enough-the-reasons-why-might-surprise-you/" target="_blank" rel="noreferrer noopener">barrier</a> to getting started.&nbsp;</p>



<p>So in recognition of Financial Literacy Month, go ahead – take an online quiz. Test your knowledge against others. But when you’re done, go a step farther. Strive for true literacy. Keep learning, and find ways to apply what you know.</p>


Making Sense of Financial Literacy


<p>A digest of timely information and insight about finance, investing, and retirement</p>



<p><a href="https://www.copera.org/pera-on-the-issues/1451-2" target="_blank" rel="noreferrer noopener">Most U.S. Employed Adults Plan to Work Past Retirement Age</a>&nbsp;|&nbsp;<a href="http://www.gallup.com/home.aspx" target="_blank" rel="noreferrer noopener">Gallup<br></a>New polling data reveals that most Americans plan to work past the traditional retirement age of 65. Interesting trend data shows more Americans plan to stay in the workforce longer.</p>



<p><a href="http://www.msn.com/en-us/money/retirement/10-retirement-stats-that-will-blow-you-away/ar-BBzTYVz?li=BBmkt5R&amp;ocid=spartandhp" target="_blank" rel="noreferrer noopener">10 Retirement Stats That Will Blow You Away</a>&nbsp;|&nbsp;<a href="https://www.msn.com/en-us/money" target="_blank" rel="noreferrer noopener">MSN Money<br></a>Here&#8217;s some key data that might open your eyes to the reality of our country&#8217;s retirement crisis.</p>



<p><a href="https://www.forbes.com/sites/jamiehopkins/2017/05/08/americans-americans-fail-retirement-planning-literacy-quiz-low-literacy-linked-to-poor-planning/#684754b8d3bd" target="_blank" rel="noreferrer noopener">Americans Fail Retirement Planning Literacy Quiz, Low Literacy Linked to Poor Planning</a>&nbsp;|&nbsp;<a href="https://www.forbes.com" target="_blank" rel="noreferrer noopener">Forbes<br></a>Can you pass the American College of Financial Services quiz? Seventy-five percent of Americans didn’t.</p>



<p><a href="https://www.nytimes.com/2017/05/12/business/retirement/senior-discounts-sciddy.html?_r=0" target="_blank" rel="noreferrer noopener">Senior Discounts Aren’t Just for Seniors Anymore</a>&nbsp;|&nbsp;<a href="https://www.nytimes.com/" target="_blank" rel="noreferrer noopener">New York Times<br></a>The world can easily become a less expensive place through the use of several apps designed for those 50 years old and over.</p>



<p><a href="http://www.azcentral.com/story/money/personalfinance/retirement/2017/05/14/10-numbers-can-make-break-your-retirement/101423304/" target="_blank" rel="noreferrer noopener">10 numbers that can make or break your retirement</a>&nbsp;|&nbsp;<a href="http://www.azcentral.com/" target="_blank" rel="noreferrer noopener">AZ Central via Nerd Wallet<br></a>Key numbers to focus on to provide guidance on how to plan, how much to save and how to invest for the future.</p>



<p><a href="https://content.copera.org/1451-2/" target="_blank" rel="noreferrer noopener">WHY PENSIONS MATTER: The history of defined benefit pension plans&nbsp;in the United States of America</a>&nbsp;|&nbsp;<a href="https://www.copera.org/pera-on-the-issues/1451-2" target="_blank" rel="noreferrer noopener">NPPC<br></a>History clearly shows that providing workers with a secure and dignified retirement through a pension is good for workers, taxpayers, society and the economy, according to the National Public Pension Coalition.</p>



<p><a href="http://www.marketwatch.com/story/how-to-plan-for-your-later-retirement-years-2017-05-15?siteid=rss" target="_blank" rel="noreferrer noopener">How to plan for your later retirement years</a>&nbsp;|&nbsp;<a href="http://www.marketwatch.com/" target="_blank" rel="noreferrer noopener">MarketWatch<br></a>Planning ahead for retirement paid off for this retiree. How to prepare for the “slow-go” years in retirement.</p>


Tag Archives:

News You Should Know: Bill Would Require Financial Literacy Course for Colorado Students

News You Should Know: Trump Moves to Establish U.S. Sovereign Wealth Fund

News You Should Know: How Will Colorado’s Economy Fare in 2025?

Making Sense of Financial Literacy

Retirement Roundup: Gallup Poll Says Most Americans Plan to Work Past 65

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