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



<p></p>


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.pbs.org/newshour/economy/how-the-stock-market-defied-expectations-in-2024-by-the-numbers" target="_blank" rel="noreferrer noopener"><strong>How the Stock Market Defied Expectations in 2024, by the Numbers | PBS News</strong></a></h4>



<p>2024 was a great year for the stock market. The S&amp;P 500, for example, notched dozens of all-time records as stocks soared throughout the year. Here are more notable numbers from the market’s performance. Note that PERA’s 2024 investment performance data won’t be available until the <em>Annual Comprehensive Financial Report</em> is released in June.</p>



<h4 class="wp-block-heading"><a href="https://finance.yahoo.com/personal-finance/banking/article/do-we-want-high-or-low-interest-rates-223031516.html" target="_blank" rel="noreferrer noopener"><strong>Understanding the Fed&#8217;s Rate Decisions: Do We Want High or Low Interest Rates​? | Yahoo Finance</strong></a></h4>



<p>The past several years have been notable for the Federal Reserve’s interest rate moves—the Fed began raising its key interest rate in 2022 and it remained high through much of 2024 before the Fed began lowering the rate in September. It’s not always easy to understand the implications of these decisions, so here are some pros and cons of high and low interest rates for various financial situations.</p>



<h4 class="wp-block-heading"><a href="https://www.cnbc.com/2025/01/05/how-to-maximize-your-401k-for-2025.html" target="_blank" rel="noreferrer noopener"><strong>Here&#8217;s How to Maximize Your 401(k) Plan for 2025 with Higher Limits, Bigger Catch-Up Contributions | CNBC</strong></a></h4>



<p>If you’re saving additional money for retirement in a PERAPlus 401(k) or 457 Plan, you have the opportunity to boost your savings even more this year. The amount of money you can contribute to those plans is going up in 2025, and there’s also a new, higher catch-up contribution limit for workers who are getting closer to retirement.</p>



<h4 class="wp-block-heading"><a href="https://www.investopedia.com/how-to-make-financial-resolutions-you-can-stick-to-in-2025-8762615" target="_blank" rel="noreferrer noopener"><strong>How To Make Financial Resolutions You Can Actually Stick To In 2025 | Investopedia</strong></a></h4>



<p>It’s that time of year when many of us are setting intentions and resolutions for the new year. If you’re making money goals, here are some tips for making sure they’re realistic and achievable so you’re set up for success.</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: The 2024 Stock Market by the Numbers


<h4 class="wp-block-heading"><strong><a href="https://coloradosun.com/2022/12/06/colorado-import-prescription-drugs-canada/" target="_blank" rel="noreferrer noopener">Colorado Just Released the List of Prescription Drugs It Wants to Import From Canada | The Colorado Sun</a></strong></h4>



<p>The State of Colorado is seeking to save residents money on prescription drugs by importing more than 100 medications from Canada. The state submitted a formal application to the federal government that lists 112 drugs with an average cost savings of 64 percent over the U.S. retail price. If approved, that could result in savings of $53 million to $88 million per year.</p>



<h4 class="wp-block-heading"><strong><a href="https://www.napa-net.org/news-info/daily-news/bicameral-bipartisan-retirement-bill-introduced" target="_blank" rel="noreferrer noopener">Bicameral, Bipartisan Retirement Bill Introduced | National Association of Plan Advisors</a></strong></h4>



<p>While the fate of the major retirement legislation package known as SECURE Act 2.0 remains uncertain, lawmakers continue to introduce new retirement-related bills. U.S. Sen. John Hickenlooper of Colorado is one the legislators behind the recently introduced Retirement Savings for Americans Act, which aims to increase access to retirement savings accounts for those who don’t currently have them.</p>



<h4 class="wp-block-heading"><strong><a href="https://www.kiplinger.com/personal-finance/7-financial-steps-to-take-at-the-end-of-the-year" target="_blank" rel="noreferrer noopener">7 Financial Steps to Take at the End of the Year | Kiplinger</a></strong></h4>



<p>With the year winding down, it’s a good time to do a financial checkup and make sure all your accounts are in order. Here are some helpful steps to consider, from taxes and investments to retirement planning and emergency savings.</p>



<h4 class="wp-block-heading"><strong><a href="https://smartasset.com/estate-planning/estate-planning-trends" target="_blank" rel="noreferrer noopener">Middle-Aged Americans Aren’t Planning Their Estates. Here’s How to Fix That. | SmartAsset</a></strong></h4>



<p>While you’re doing a year-end financial check-up, you may consider doing some estate planning, if you haven’t already. A recent survey found the number of middle-aged adults with a will dropped to an all-time low in 2021. While estate planning can be daunting, there are a few common documents that will be a big help to your loved ones.</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: Colorado Lists Drugs It Aims to Import From Canada


<p>October is National Retirement Security Month — a time to examine one’s financial situation, assess progress toward retirement savings goals, make plans to get on track, or make a goal and get started.</p>



<p>Retirement security is at the core of everything we do and everything we offer at PERA. This commitment is reflected in our mission statement: To provide retirement security for our members while ensuring the sustainability of the fund.</p>



<p>In 2021, PERA paid $4.35 billion in retirement benefits to more than 110,000 Colorado retirees. Each of those retirees can rely on receiving regular income from PERA’s Defined Benefit Plan for as long as they live.</p>



<p>Some PERA employers offer a choice between the Defined Benefit (DB) Plan and the Defined Contribution (DC) Plan, and PERA members also have access to optional PERAPlus 401(k) and 457 plans to save more for retirement. Knowing what combination of plans to choose can be challenging.</p>



<p>To help members further bolster their retirement knowledge and security, PERA launched an online <a href="https://www.copera.org/financial-wellness-library?utm_source=POTI&amp;utm_medium=email&amp;utm_campaign=10-12-22" target="_blank" rel="noreferrer noopener">Financial Wellness Library</a> with a regularly updated collection of articles on retirement planning. These articles put into perspective the many factors that can impact saving for retirement, while providing suggestions that make the planning a little easier.</p>



<h4 class="wp-block-heading"><strong>Financial Wellness Library</strong></h4>



<p>The educational content in PERA’s Financial Wellness Library is split into numerous sections, including: creating a budget, investing basics, preparing for life events, protecting your assets, saving and planning, getting ready to retire, and activities in retirement as well as links to PERA benefits and tools to help you achieve your financial goals.</p>



<p>There’s also a link to additional financial wellness content from <a href="https://www.empower.com/learning_center/#/">Empower Retirement</a>, PERA’s partner in administering the PERAPlus 401(k), 457 and DC plans.</p>



<p>In addition to general financial literacy information, the library includes articles to help you get more familiar with your PERA benefits and how they can help you meet your goals:</p>



<ul>
<li><strong>Get the Most Out of PERA: View Your Member Dashboard:</strong> Learn about the features available when you log into your member account on copera.org, including checking your account balance, seeing your estimated monthly retirement benefit, submitting forms and more.</li>



<li><strong>PERA is With You Every Step of the Way Throughout Your Career: </strong>Whether you’re new to PERA or getting ready to retire, we have resources available to help you make the most of your benefits.</li>



<li><strong>The Benefits of PERA Membership Start Well Before You Retire:</strong> PERA is more than just a retirement plan; we also offer survivor and disability benefits, voluntary savings plans and more.</li>



<li><strong>Four Things New Members Should Do:</strong> If you’re new to PERA, this is a great place to start on your path to retirement security.</li>
</ul>



<p>Visit <a href="https://www.copera.org/financial-wellness-library?utm_source=POTI&amp;utm_medium=email&amp;utm_campaign=10-12-22" target="_blank" rel="noreferrer noopener">copera.org/financial-wellness-library</a> to learn more.</p>



<p><strong>Additional reading:</strong></p>



<ul>
<li><a href="https://peraontheissues.com/what-retirement-security-means-to-pera-members/" target="_blank" rel="noreferrer noopener">What ‘Retirement Security’ Means to PERA Members</a></li>



<li><a href="https://peraontheissues.com/survey-millennials-gen-x-especially-pessimistic-about-retirement-prospects/" target="_blank" rel="noreferrer noopener">Survey: Millennials, Gen X Especially Pessimistic about Retirement Prospects</a></li>



<li><a href="https://peraontheissues.com/how-retirement-systems-like-pera-plan-for-the-biggest-financial-risks-retirees-face/" target="_blank" rel="noreferrer noopener">How Retirement Systems Like PERA Plan for the Biggest Financial Risks Retirees Face</a></li>



<li><a href="https://peraontheissues.com/pera-offering-new-lifetime-income-options-to-dc-plan-participants/" target="_blank" rel="noreferrer noopener">PERA Offering New Lifetime Income Options to DC Plan Participants</a></li>
</ul>


Financial Education Resources for National Retirement Security Month


<h4 class="wp-block-heading"><a href="https://www.cnbc.com/2022/08/12/drug-prices-passage-of-inflation-reduction-act-gives-medicare-historic-new-powers.html" target="_blank" rel="noreferrer noopener"><strong>Drug prices: Passage of Inflation Reduction Act Gives Medicare Historic New Powers | CNBC&nbsp;</strong></a></h4>



<p>Medicare will soon be able to negotiate directly with drug manufacturers on the prices of some name-brand medications, leading to savings for retirees and the federal government. The recently passed Inflation Reduction Act will also limit out-of-pocket spending to $2,000 for participants in Medicare’s Part D prescription drug plan.</p>



<h4 class="wp-block-heading"><a href="https://content.copera.org/news-you-should-know-congress-passes-bill-giving-medicare-power-to-negotiate-drug-prices/" target="_blank" rel="noreferrer noopener"><strong>FDA Finalizes Rule to Make Hearing Aids Available Over the Counter | The Hill</strong></a></h4>



<p>The Federal Drug Administration has finalized a rule that will allow some hearing aids to be sold over the counter. The rule applies to hearing aids for people with mild to moderate hearing loss, and products could appear on store shelves as soon as this fall.</p>



<h4 class="wp-block-heading"><a href="https://www.fool.com/the-ascent/personal-finance/articles/americans-are-saving-the-least-money-since-2009/" target="_blank" rel="noreferrer noopener" class="broken_link"><strong>Americans Are Saving the Least Money Since 2009 | The Motley Fool</strong></a></h4>



<p>During the early days of the COVID-19 pandemic, many Americans reduced their spending and ramped up their savings, but that trend has since reversed. New data from the Federal Reserve Bank of New York show the personal savings rate in the United States has dropped to its lowest level since 2009. Americans have also racked up record debt, with total U.S. household debt surpassing $16 trillion for the first time ever this year.</p>



<h4 class="wp-block-heading"><strong><a href="https://finance.yahoo.com/news/finances-keeping-night-not-alone-175326930.html" target="_blank" rel="noreferrer noopener">Finances Keeping You Up at Night? You’re Not Alone | Yahoo! Finance &nbsp;</a></strong></h4>



<p>It turns out having a financial plan is good for more than just your wallet — it’s also good for your overall health. A recent study from Northwestern Mutual found that people who make financial plans and work with an advisor are happier and get better sleep than those who don’t.</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: Congress Passes Bill Giving Medicare Power to Negotiate Drug Prices


<h4 class="wp-block-heading"><a href="https://coloradosun.com/2022/06/23/colorado-option-public-health-insurance/" target="_blank" rel="noreferrer noopener"><strong>Federal Government Approves Colorado Option Health Insurance Plan | The Colorado Sun</strong></a></h4>



<p>The federal government has given its approval to Colorado’s plan to offer standardized lower-cost health care plans in the state. Colorado Option plans will be available to those who shop for insurance on their own and will be required to offer premiums that are lower than what insurance companies charge for other plans.</p>



<h4 class="wp-block-heading"><a href="https://www.barrons.com/articles/retirement-longevity-risk-stock-market-51657907372?tesla=y" target="_blank" rel="noreferrer noopener"><strong>Why Retirees Should Worry More About Longevity and Less About the Markets | Barron&#8217;s</strong></a></h4>



<p>Recent research finds many retirees may be underestimating the biggest risk they face in retirement: living longer than they plan for. The survey, which took place prior to 2022’s market losses, found retirees rank market volatility as their top risk, followed by longevity and the cost of health care, while the research suggests longevity should take top billing, followed by health and then market risk.</p>



<h4 class="wp-block-heading"><a href="https://www.npr.org/sections/health-shots/2022/07/15/1111316589/988-suicide-hotline-number" target="_blank" rel="noreferrer noopener"><strong>The New 988 Mental Health Hotline is Live. Here’s What to Know. | NPR</strong></a></h4>



<p>As of this month, anyone experiencing a mental health crisis can dial 988 for help. The new three-digit number replaces the former 10-digit hotline and connects callers to a network of local call centers around the country. The federal government is investing hundreds of millions of dollars to support the service.</p>



<h4 class="wp-block-heading"><a href="https://www.nextavenue.org/stay-the-course-or-pivot-a-mid-year-financial-check-in/" target="_blank" rel="noreferrer noopener"><strong>Stay the Course or Pivot? A Mid-Year Financial Check-In | Next Avenue</strong></a></h4>



<p>We’re halfway through 2022, and it’s a good time to check in on your finances to see if you’re on track to meet your goals. Here are some key questions to ask yourself when assessing your financial situation.</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: Federal Authorities Approve Lower-Cost Colorado Option Health Insurance


<h4 class="wp-block-heading"><a href="https://www.thedenverchannel.com/news/politics/colorado-taxpayers-could-get-more-in-tabor-refunds-recession-risk-marginal-forecasts-say" target="_blank" rel="noreferrer noopener"><strong>Colorado Taxpayers Could Get More in TABOR Refunds, Forecasts Say</strong></a><strong> | Denver7</strong></h4>



<p>State economists say tax rebate checks going out to every Colorado taxpayer this year will be higher than expected — $750 for single filers and $1,500 for joint filers. The increase is due to new forecasts that showed roughly $1 billion in additional state revenue.</p>



<h4 class="wp-block-heading"><a href="https://www.napa-net.org/news-info/daily-news/cooking-gas-senate-finance-committee-rolls-out-massive-secure-20-counterpart" target="_blank" rel="noreferrer noopener"><strong>Cooking With Gas: Senate Finance Committee Rolls Out Massive SECURE 2.0 Counterpart</strong></a><strong> | National Association of Plan Advisors</strong></h4>



<p>The Senate Finance Committee introduced new legislation, dubbed the Enhancing American Retirement Now (EARN) Act, as a counterpart to the House’s SECURE Act 2.0. The bill includes a large number of provisions, including improving access to 401(k) plans, increasing catch-up contributions and increasing the age for starting required minimum distributions (RMDs).</p>



<h4 class="wp-block-heading"><a href="https://www.cnbc.com/2022/06/13/lifetime-income-illustrations-are-a-wake-up-call-for-401k-savers.html" target="_blank" rel="noreferrer noopener"><strong>401(k) Savers Will See a ‘Wake-Up Call’ in Their Next Statement, Says Law Professor. Here’s What to Look For</strong></a><strong> | CNBC</strong></h4>



<p>Beginning this summer, administrators of 401(k) plans will be required to include “lifetime income illustrations” in account statements in addition to account balances. The illustrations will provide estimates of how much retirement income account holders can expect if they purchase an annuity with their balance.</p>



<h4 class="wp-block-heading"><a href="https://www.forbes.com/sites/davidrae/2022/06/14/3-financial-planning-moves-to-make-when-you-turn-50/?sh=c31ac93713c9" target="_blank" rel="noreferrer noopener"><strong>3 Financial Planning Moves to Make When You Turn 50</strong></a><strong> | Forbes</strong></h4>



<p>Turning 50 can sometimes bring a moment of recognition that retirement is coming up, and it’s time to get serious about planning. Here are some tips from a retirement planner on the important steps to take when getting things in order.</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: Colorado Tax Rebates Increase to $750 Per Filer


<h4 class="wp-block-heading"><a href="https://coloradosun.com/2022/04/15/colorado-hospital-profits-prices-hcpf/" target="_blank" rel="noreferrer noopener"><strong>Why Colorado’s Ongoing Fight Against High Hospital Prices Is Now A Lot More Complicated</strong></a><strong> | The Colorado Sun</strong></h4>



<p>A recently released report found Colorado is one of the most expensive states in the country for hospital care. The state is pushing for hospitals to lower costs, and hospitals say they’re making progress, but the COVID-19 pandemic has added another element to the conversation.</p>



<h4 class="wp-block-heading"><a href="https://content.copera.org/news-you-should-know-new-factors-in-colorados-ongoing-fight-against-high-hospital-costs/" target="_blank" rel="noreferrer noopener"><strong>Are Rising Interest Rates Making Savings Accounts a Smart Option Again?</strong></a><strong> | Yahoo! Finance</strong></h4>



<p>While rising interest rates can have negative effects on some aspects of consumer finances, one area that stands to benefit is saving accounts. Banks are likely to start offering higher interest rates on savings accounts, though it may take some time to see those changes take effect.</p>



<h4 class="wp-block-heading"><strong><a href="https://www.kiplinger.com/personal-finance/604519/which-of-the-3-financial-phases-are-you-in" target="_blank" rel="noreferrer noopener">Which of the 3 Financial Phases Are You In?</a> | Kiplinger</strong></h4>



<p>Your financial life can be divided into three distinct phases: build and grow, transition, and distribute and deploy. Which stage you’re in isn’t determined by just your age but also what your priorities and goals are.</p>



<h4 class="wp-block-heading"><a href="https://www.forbes.com/sites/lawrencelight/2022/04/20/your-aging-parents-need-care-what-can-you-do/?sh=9cdedb04d201" target="_blank" rel="noreferrer noopener"><strong>Your Aging Parents Need Care: What Can You Do?</strong></a><strong> | Forbes</strong></h4>



<p>Aging can be a difficult topic to discuss, especially with elderly parents who may be facing losing some of their independence. Here are some tips from an expert on when and how to start those tough conversations.</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: New Factors in Colorado’s Ongoing Fight Against High Hospital Costs


<h4 class="wp-block-heading"><a href="https://www.nextavenue.org/happiest-retirees-and-unhappy-retirees/" target="_blank" rel="noreferrer noopener"><strong>Who the Happiest Retirees and Most Unhappy Retirees Are</strong></a><strong> | Next Avenue</strong></h4>



<p>What makes for a happy retiree? Contentment looks different for everyone, but the authors of two new books share some insights about some of the key characteristics of happy retirees. Hint: Money is just part of the equation.</p>



<h4 class="wp-block-heading"><a href="https://coloradosun.com/2021/11/04/mortgage-assistance-covid-colorado-housing/" target="_blank" rel="noreferrer noopener"><strong>Colorado launches program to help homeowners struggling with their mortgage payments</strong></a><strong> | The Colorado Sun</strong></h4>



<p>Colorado used its share of federal homeowner assistance funds to establish the Emergency Mortgage Assistance Program, which helps struggling homeowners who are past due on their mortgages. The program can cover up to three months of mortgage payments, and the money does not have to be paid back.</p>



<h4 class="wp-block-heading"><a href="https://www.aarp.org/money/investing/info-2021/complete-guide-to-financial-advisers.html" target="_blank" rel="noreferrer noopener"><strong>Your Ultimate Guide to Financial Advisers</strong></a><strong> | AARP</strong></h4>



<p>It’s a good idea to seek professional help with big financial decisions and planning, but there are many types of financial advisers, and choosing the right one for the job can be a difficult task. AARP lists some of the credentials and other important factors to consider when searching for a financial professional.</p>



<h4 class="wp-block-heading"><a href="https://www.kiplinger.com/retirement/estate-planning/603634/estate-planning-for-pets-how-to-protect-your-furry-friends" target="_blank" rel="noreferrer noopener"><strong>Estate Planning for Pets: How to Protect Your Furry Friends</strong></a><strong> | Kiplinger</strong></h4>



<p>You may have already put considerable thought into what will happen to your assets like property and bank accounts when you die. But what about your pets? Here are some things to consider when planning for how your pets will be taken care of, and who will pay for it.</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>


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