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.

A digest of timely information and insight about finance, investing, and retirement.



<a href="https://www.marketwatch.com/story/more-people-say-they-want-to-retire-before-age-60-is-that-wise-2019-01-02" target="_blank" rel="noreferrer noopener">More people are saying they want to retire before 60. Is that wise?</a> | <a href="https://www.marketwatch.com/" target="_blank" rel="noreferrer noopener">MarketWatch</a> When it comes to retiring — especially if you hope to retire early — look before you leap. Americans are apparently more optimistic about their financial prospects, saying they intend to retire on average at age 62, two years sooner than they did five years ago, <a href="https://content.copera.org/retirement-roundup-why-it-may-not-be-wise-to-retire-before-60/" target="_blank" rel="noreferrer noopener">according to MassMutual’s 2018 State of the American Family survey</a>. Additionally, four in 10 intend to retire before age 60, up from 32 percent when the survey was last conducted. This optimism may be misplaced. While financial markets and 401(k) balances have trended higher in the past five years, many Americans may have a false sense of security when it comes to being ready to retire. Pre-retirees should gauge their readiness for retirement by checking, and potentially adjusting, both their financial and emotional state.



<a href="https://content.copera.org/retirement-roundup-why-it-may-not-be-wise-to-retire-before-60/" target="_blank" rel="noreferrer noopener">Index investing: Not as passive as you might think</a> | <a href="https://content.copera.org/retirement-roundup-heres-what-could-take-a-big-bite-out-of-your-nest-egg/" target="_blank" rel="noreferrer noopener">Pensions &amp; Investments</a> Index investing isn’t really passive, according to a University of Toronto faculty member. “Rather than being passive in any meaningful sense, index investing simply represents a form of delegated management,” wrote Adriana Robertson, assistant professor in the University of Toronto law faculty, in a paper, “Passive in Name Only: Delegated Management and ‘Index’ Investing,” issued in November. “Not only are these indexes managed portfolios in the strictly financial sense, by their construction they imply a substantial amount of delegated decision-making authority.”



<a href="https://www.cnbc.com/2019/01/02/retiring-abroad-in-2019-consider-these-top-5-locations.html" target="_blank" rel="noreferrer noopener">Retiring abroad in 2019? Consider these top 5 locations</a> | <a href="https://www.cnbc.com/" target="_blank" rel="noreferrer noopener">CNBC</a> If you’re leaving the U.S. in search of a retirement paradise, be sure to look south. That’s because the top retirement haven for globe-trotting retirees is Panama, according to a new report from <a href="https://internationalliving.com/the-best-places-to-retire/?utm_source=pr&amp;utm_medium=pr-organic&amp;utm_campaign=press-release" target="_blank" rel="noreferrer noopener">International Living</a>. Using its Annual Global Retirement Index and evaluating countries based on 13 categories, including the cost of living, retiree benefits and more, the travel website ranked its top destinations for retirees. “There are three or four perennial favorites in the top, including Mexico and Panama,” said Dan Prescher, senior editor at International Living. “These places are just so logistically easy to get to, and they have established expat communities, so they’re easy to settle into,” he said. Just be sure that you give your financial planner and accountant a ring before you board the plane. You should know how a move overseas could <a href="https://www.cnbc.com/2018/04/21/heres-how-to-retire-abroad--without-any-tax-surprises.html" target="_blank" rel="noreferrer noopener">affect your taxes</a>.



<a href="https://www.forbes.com/sites/dorianmintzer/2019/01/02/retirement-is-a-transition-not-a-destination/#38dbb60f98a1" target="_blank" rel="noreferrer noopener">Retirement is a transition, not a destination</a> | <a href="https://www.forbes.com/" target="_blank" rel="noreferrer noopener">Forbes</a> It’s less important to think about what you’re retiring from and more important to think about what you’re retiring to. Some industries no longer have a mandatory retirement age, so the decision may be up to you. Many of you can now negotiate if, when, and how you want to retire. This reality may be both exciting and daunting. It can be complicated if you’re an individual living alone and even more complicated if you’re in a relationship.



<a href="https://www.adn.com/opinions/2018/12/31/if-alaska-is-serious-about-keeping-good-teachers-it-should-return-to-defined-benefit-retirement/" target="_blank" rel="noreferrer noopener">Why Alaska should return to a defined benefit plan to retain good teachers</a> | <a href="https://www.adn.com" target="_blank" rel="noreferrer noopener">Anchorage Daily News</a> The University of Alaska has an ambitious goal to grow its own teachers and double the number of education graduates hired by 2025. Homegrown Alaskan teachers do tend to stay and have longer careers in Alaska. But the state university’s initiative to double the number of locally grown teachers produced and hired in Alaska won’t happen until the Legislature rectifies the retirement structure for these professionals. The public needs to be aware of the many significant financial factors impacting young teachers’ decisions and influencing Alaska’s 20-30 percent teacher turnover rate. Outreach and mentoring will not be enough to reduce it.

Retirement Roundup: Is retiring before age 60 wise?

A digest of timely information and insight about finance, investing, and retirement.



<a href="https://money.cnn.com/2018/09/17/pf/things-to-do-before-you-retire/index.html" target="_blank" rel="noreferrer noopener">Five things you must do before you retire</a> |&nbsp;<a href="https://money.cnn.com/" target="_blank" rel="noreferrer noopener">CNN Money</a> If you’re looking forward to retirement, you’re not alone. Countless workers dream of leaving their jobs behind and enjoying the freedom of unstructured days. But before you pull the trigger on retirement, be sure to tackle five critical steps so you don’t come to regret your decision later on.



<a href="https://www.cnbc.com/2018/09/10/post-financial-crisis-retirees-still-struggle-to-find-reliable-retirement-income.html" target="_blank" rel="noreferrer noopener">A decade after the financial crisis, this retirement dilemma still hasn’t been solved</a> |&nbsp;<a href="https://www.cnbc.com/" target="_blank" rel="noreferrer noopener">CNBC</a> When it comes to how individual investors have fared since the financial crisis, it’s still largely a tale of the haves and have-nots. To see evidence of this, look no further than where individuals are when it comes to the biggest financial goal of all: retirement. As news of 401(k) plan millionaires hits the headlines, other individuals are still left picking up the pieces after the last decade’s precipitous market drop decimated their nest egg or a job loss led to them to raid their retirement funds.



<a href="https://www.cbsnews.com/news/hsa-health-savings-accounts-many-benefits-for-retirement-savings/" target="_blank" rel="noreferrer noopener">Many savers missing out on the HSA’s benefits for retirement</a> |&nbsp;<a href="https://www.cbsnews.com/moneywatch/" target="_blank" rel="noreferrer noopener">CBS MoneyWatch</a> One of the best places to accumulate assets for retirement is a health savings account, or HSA. But many Americans aren’t getting the message. HSA account holders have accumulated over $51 billion in these&nbsp;<a href="https://www.cbsnews.com/news/the-many-benefits-of-health-savings-accounts/" target="_blank" rel="noreferrer noopener">special saving plans</a>&nbsp;– a 20.4 percent increase since last year. And the number of HSAs has grown over 11 percent, totaling 23.4 million accounts, according to the&nbsp;<a href="http://www.devenir.com/research/2018-midyear-devenir-hsa-research-report/" target="_blank" rel="noreferrer noopener">2018 Midyear Devenir HSA Market Survey</a>.&nbsp;But most people use their HSA as a pass-through and are getting only the advantage of a tax-free way to pay for out-of-pocket medical costs. So they are missing out on these accounts’ most valuable feature: tax-free growth of invested HSA assets over long periods of time.



<a href="https://www.marketwatch.com/story/even-people-with-pensions-work-into-their-retirement-years-2018-09-14" target="_blank" rel="noreferrer noopener">Even people with pensions work into their retirement years</a> |&nbsp;<a href="https://www.marketwatch.com/" target="_blank" rel="noreferrer noopener">MarketWatch</a> Having guaranteed income for retirement in the form of a pension is a dream for many workers, but workers may still change jobs or prolong their working years before they retire. Transitioning into retirement — the actual act of moving away from the workforce — isn’t all that different among public and private sector workers. Even though many public workers get guaranteed income in the form of a pension during retirement, they still tend to take another job or reduce their hours to part-time before fully embracing retirement. Private workers, on the other hand, similarly work into their retirement years, though they may not have the option if they haven’t saved enough for their retirement.



<a href="https://www.benefitnews.com/list/25-best-cities-for-retirement" target="_blank" rel="noreferrer noopener">The 25 best cities for retirement</a> |&nbsp;<a href="https://www.benefitnews.com/" target="_blank" rel="noreferrer noopener">BenefitNews</a> There might be one fairly simple and smart way to ensure employees have enough money in retirement: Relocating to a city that has a lower cost of living and can stretch post-career savings. WalletHub, an online personal finance site, researched the Best &amp; Worst Places to Retire by comparing 46metrics across more than 180 cities, including cost of health care, affordability, things to do and quality of life. (Spoiler: Denver is #4!)



<a href="https://www.denverpost.com/2018/09/11/social-security-comes-up-short-in-colorado/">Study: Social Security doesn’t stretch far in Colorado</a> |&nbsp;<a href="https://www.denverpost.com/">Denver Post</a> Social Security recipients collect $1,295 a month on average, but that payment won’t cover&nbsp;basic living costs in any state, including Colorado, according to a&nbsp;<a href="https://howmuch.net/articles/cost-of-living-social-security" target="_blank" rel="noreferrer noopener">survey from HowMuch.net and GoBankingRates</a>. That monthly payment covers only 36.3 percent of basic living costs in Colorado, ranking the state 11th worst for coming up short. Hawaii, California, Massachusetts, Alaska and New York are the toughest states for those trying to get buy on just Social Security, while Arkansas, West Virginia, Oklahoma, Alabama and Mississippi are where payments go the furthest.

Retirement Roundup: Five things you must do before you retire

A digest of timely information and insight about finance, investing, and retirement.



<a href="https://medium.com/@RosenthalHealth/how-economic-incentives-have-created-our-dysfunctional-us-medical-market-b681c51d6436" target="_blank" rel="noreferrer noopener">How economic incentives have created our dysfunctional medical market</a>|&nbsp;<a href="https://medium.com" target="_blank" rel="noreferrer noopener">Medium</a> There are 10 economic rules that seem to govern the U.S. medical market, and there are real-life examples that show how they come into play. Economic forces and incentives that motivate our health system often lead to medical practices that are not especially good for our health — or our wallets.



<a href="https://www.cbsnews.com/news/american-workers-big-disconnect-about-retirement/" target="_blank" rel="noreferrer noopener">American workers’ big disconnect about retirement</a> |&nbsp;<a href="https://www.cbsnews.com" target="_blank" rel="noreferrer noopener">MoneyWatch</a> “Wishful thinking” could be one way to describe many Americans’ expectations about retirement. When the modest financial resources that most workers have accumulated and the longer lives we’re all living are considered, the math just doesn’t add up to workers’ expectations about when they can retire and what their standard of living in retirement will be.



<a href="https://content.copera.org/retirement-roundup-how-economic-incentives-have-created-our-dysfunctional-medical-market/" target="_blank" rel="noreferrer noopener">Where to retire in Mexico on $20,000</a> |&nbsp;<a href="https://content.copera.org/retirement-roundup-the-confusion-surrounding-retirement-planning/" target="_blank" rel="noreferrer noopener">US News</a> Durango, Mexico, is an amenity-rich city with great infrastructure, a welcoming population and a very affordable real estate market. The low cost of living is complimented by the dollar’s strength versus the Mexican peso. The weather is ideal for many retirees. Skies are clear blue and nights are cool, making for great sleeping. This is a clean city whose well-kept streets are lined by buildings and structures more reminiscent of old&nbsp;<a href="https://www.copera.org/retirement-roundup-how-economic-incentives-have-created-our-dysfunctional-medical-market" target="_blank" rel="noreferrer noopener" class="broken_link">Europe</a>&nbsp;than Latin America.



<a href="https://www.nytimes.com/2018/08/10/business/vanguard-recession-economy.html?emc=edit_th_180812&amp;nl=todaysheadlines&amp;nlid=280288050812" target="_blank" rel="noreferrer noopener">Vanguard warns of worsening odds for the economy and markets</a> |&nbsp;<a href="https://www.nytimes.com" target="_blank" rel="noreferrer noopener">New York Times</a> The chances of a recession by the end of 2020 are mounting and the prospects for the American stock market in the next decade have worsened appreciably. Those are prognoses, not facts. But they’re not just offhand projections, either. They are the sober assessments of Vanguard, the $5 trillion asset management firm. And they suggest that the current good times may amount to a reprieve: an opportunity to make sure that you are prepared for a storm.



<a href="https://www.marketwatch.com/story/heres-why-you-shouldnt-retire-super-early-even-if-you-can-2018-08-30" target="_blank" rel="noreferrer noopener">Here’s why you shouldn’t retire early—even if you can</a> |&nbsp;<a href="https://www.marketwatch.com" target="_blank" rel="noreferrer noopener">MarketWatch</a> The FIRE movement, short for “financial independence, retire early,” is burning up on the internet. Hundreds of anonymous bloggers (they tend not to reveal their identities because they’re still employed and are afraid of losing their jobs) share their goals of leaving their 9-to-5 jobs and write about how they plan to do so. Some choose to give up their careers entirely, while others decide to freelance in the industry they work in or try an entirely new part-time job. But there are financial and emotional consequences of early retirement, from giving up potentially high earnings to living on a shoestring budget and forgoing what can make life enjoyable.



<a href="https://www.cbsnews.com/news/3-steps-toward-fixing-americas-retirement-system/" target="_blank" rel="noreferrer noopener">3 steps toward fixing America’s retirement system</a> |&nbsp;<a href="https://www.cbsnews.com" target="_blank" rel="noreferrer noopener">CBS News</a> The U.S. retirement system clearly has shortcomings that are leading to widespread insecurity among older workers. In recognition of this anxiety, recent meetings in Washington, D.C., focused on <a href="https://www.cbsnews.com/news/social-securitys-funding-challenges-can-be-solved/" target="_blank" rel="noreferrer noopener">much-needed modernization</a>&nbsp;as the Bipartisan Policy Center (BPC) launched its&nbsp;<a href="https://fundingourfuture.us/#s1" target="_blank" rel="noreferrer noopener">Funding Our Future</a>&nbsp;initiative. The initiative focuses on three significant changes that could significantly improve retirement for many U.S. workers: putting Social Security on a sustainable financial path; closing the retirement plan coverage gap; and encouraging employer-sponsored retirement plans to offer lifetime retirement income options.

Retirement Roundup: How economic incentives have created our dysfunctional medical market

A digest of timely information and insight about finance, investing, and retirement.



<a href="http://www.verywellhealth.com/health-insurance-premium-increase-2615099" target="_blank" rel="noreferrer noopener">Why does my health insurance premium increase each year?</a> |&nbsp;<a href="http://www.verywellhealth.com" target="_blank" rel="noreferrer noopener">Verywell Health</a> Typically as fall approaches, you begin to hear from your employer’s human resources department or from the insurers and payers who oversee your health coverage about how much you’ll have to pay for coverage next year. And each year, it seems like those premiums increase, sometimes by double-digit percentages. Why is health insurance so expensive? And why do you have to pay more every year, even if you’re healthy? Simply put, health insurance premiums go up because medical costs increase.



<a href="https://www.marketwatch.com/story/dont-confuse-public-pension-cost-with-generosity-2018-08-14" target="_blank" rel="noreferrer noopener">Opinion: Don’t confuse public pension cost with generosity</a> |&nbsp;<a href="https://www.marketwatch.com/" target="_blank" rel="noreferrer noopener">MarketWatch</a> In a recent editorial,&nbsp;<a href="https://www.wsj.com/articles/why-your-pension-is-doomed-1532042985" target="_blank" rel="noreferrer noopener">The Wall Street Journal reports</a>&nbsp;on state and local pension liabilities as a percentage of state GDP and concludes that politicians have made excessive pension promises. In fact, pension costs are going up, but the question is whether the rising costs are a result of benefit generosity or of underfunding. The answer is underfunding.



<a href="https://www.marketplace.org/2018/08/13/economy/retirement-scams" target="_blank" rel="noreferrer noopener">Scammers are targeting retirement savings. Here’s how to fight them</a> |&nbsp;<a href="https://www.marketplace.org/" target="_blank" rel="noreferrer noopener">Marketplace</a> As we age, one of the things that sometimes gets lost in the mix is how we&#8217;ve handled our money. Did we save enough? What will our retirement be like? And if that&#8217;s not enough, now add another worrisome element to the mix: retirement scammers. Con artists of all types are finding ways to sap the savings of aging retirees. Senior economics correspondent Chris Farrell addresses what the government, the financial industry and you can do about it.



<a href="https://www.cnbc.com/2018/08/14/best-and-worst-cities-for-retirement.html" target="_blank" rel="noreferrer noopener">Best and worst cities for retirement</a> |&nbsp;<a href="https://www.cnbc.com/" target="_blank" rel="noreferrer noopener">CNBC</a> If you&#8217;re looking for an affordable retirement, the city in which you decide to live should be an important factor. Personal finance website WalletHub recently ranked 182 U.S. cities based on their affordability, activities, quality of life and health care. Each city was graded on a 100-point scale, with 100 representing the highest score.



<a href="https://www.plansponsor.com/half-pre-retirees-expect-return-work/" target="_blank" rel="noreferrer noopener">Half of pre-retirees expect to return to work</a> |&nbsp;<a href="https://www.plansponsor.com/" target="_blank" rel="noreferrer noopener">PlanSponsor</a> Fifty-three percent of workers who expect to retire in the next five years think it is likely they will return to work, according to a survey by Home Instead, Inc. Earning additional income was their primary reason for returning to work, cited by 67 percent, followed by fighting boredom (44 percent) and keeping their minds sharp (22 percent). Sixty-eight percent of those approaching retirement say they plan to work in a different industry and 65 percent of retirees who have returned to work say the same.



<a href="https://www.marketwatch.com/story/this-is-how-to-have-the-perfect-retirement-2018-08-15" target="_blank" rel="noreferrer noopener">This is how to have the “perfect” retirement</a> |&nbsp;<a href="https://www.marketwatch.com" target="_blank" rel="noreferrer noopener">MarketWatch</a> Most people look forward to retirement as a time to forget their worries, live without a boss or a commute and to perhaps just kick back whenever and however the urge appears. But in real life, that fantasy isn’t very common — and it may not be all it’s cracked up to be. There’s no one-size-fits-all formula for a good retirement, because every situation is in some ways unique.



<a href="http://www.investmentnews.com/article/20180809/BLOG05/180809929/social-security-finances-worsen-as-reliance-on-the-program-increases" target="_blank" rel="noreferrer noopener" class="broken_link">Social Security finances worsen as reliance on the program increases</a> | <a href="http://www.investmentnews.com" target="_blank" rel="noreferrer noopener">Investment News</a> Two new reports from the University of Pennsylvania’s Wharton School of Business document an increase in American retirees’ reliance on Social Security income over the past 25 years as the program’s long-term finances deteriorate at a faster pace than officially projected by the Social Security Administration.

Retirement Roundup: Why do health insurance premiums increase each year?

A digest of timely information and insight about finance, investing, and retirement.



<a href="https://www.forbes.com/sites/forbesfinancecouncil/2018/06/06/retirement-planning-what-happens-after-saving/#4b29d28e371a" target="_blank" rel="noreferrer noopener">Retirement planning: What happens after saving?</a> |&nbsp;<a href="https://www.forbes.com/" target="_blank" rel="noreferrer noopener">Forbes</a> For most of us, retirement is something we dream about for many decades. And hopefully, we accompany those dreaming years with the discipline to save as much as we can for when the time finally arrives.&nbsp;But no matter how large our investment portfolio may be when it’s time to retire, there’s one additional step we should possibly consider: holding on to the budgeting approach that may have worked so well during our working years.



<a href="https://www.cnbc.com/2018/06/04/debt-levels-could-delay-your-retirement.html" target="_blank" rel="noreferrer noopener">This growing problem threatens to delay your retirement</a> |&nbsp;<a href="http://www.cnbc.com/" target="_blank" rel="noreferrer noopener">CNBC</a> Americans today are more likely to reach retirement in debt than ever before. That&#8217;s the takeaway from&nbsp;<a href="https://www.aeaweb.org/articles?id=10.1257/pandp.20181117" target="_blank" rel="noreferrer noopener">a new study</a>&nbsp;that appeared last month in the <a href="https://www.aeaweb.org/" target="_blank" rel="noreferrer noopener">American Economic Association Papers and Proceedings</a>. The researchers compared debt levels among different generations when they were between the ages of 56 and 61 to learn how the financial standing of people bracing to exit the workforce has changed over time, and how much the Great Recession is to blame.



<a href="https://www.bloomberg.com/news/articles/2018-06-05/not-prepared-for-retirement-here-s-a-solution-don-t-retire" target="_blank" rel="noreferrer noopener" class="broken_link">Not prepared for retirement? Here’s a solution: Don’t retire</a> |&nbsp;<a href="https://www.bloomberg.com/" target="_blank" rel="noreferrer noopener" class="broken_link">Bloomberg</a> Lots of people around the world aren’t prepared for retirement, as Suzanne Woolley of Bloomberg News&nbsp;<a href="https://www.bloomberg.com/news/articles/2018-05-29/the-world-isn-t-prepared-for-retirement" target="_blank" rel="noreferrer noopener" class="broken_link">ably explained</a>&nbsp;recently. There’s one obvious&nbsp;solution to that problem: Postpone your retirement. A recent academic&nbsp;<a href="http://www.nber.org/papers/w24226">study</a>&nbsp;called&nbsp;The Power of Working Longer,&nbsp;<a href="https://www.nytimes.com/2018/06/01/business/thinking-about-retirement-consider-working-a-little-longer.html" target="_blank" rel="noreferrer noopener">cited</a>&nbsp;in The New York Times, finds that working just three to six months longer can raise your retirement income as much as increasing your savings by 1 percent every year for the last 30 years of your career.



<a href="https://www.washingtonpost.com/news/get-there/wp/2018/06/04/your-retirement-may-be-saved-by-a-side-hustle/?utm_term=.f030d3887793" target="_blank" rel="noreferrer noopener" class="broken_link">Your retirement may be saved by a side hustle</a>&nbsp;|&nbsp;<a href="https://www.washingtonpost.com/" target="_blank" rel="noreferrer noopener" class="broken_link">Washington Post</a> For those heading into retirement or already retired, a side hustle in the gig economy may just be what you need to boost your savings. In the “gig economy,” people work as freelancers, contractors or temps. Often the paychecks are steady and retirement benefits don’t come with the gig. Yet, it’s this way of working that can help boost an anemic retirement account or increase the income of a retiree. By 2020, more than 40 percent of the workforce will consist of people working in the gig economy, according to a&nbsp;<a href="https://http-download.intuit.com/http.intuit/CMO/intuit/futureofsmallbusiness/intuit_2020_report.pdf" target="_blank" rel="noreferrer noopener">report</a>&nbsp;from Intuit.



<a href="https://www.marketwatch.com/story/reality-check-what-the-average-retiree-spends-a-month-2018-06-05" target="_blank" rel="noreferrer noopener">Reality check: Here’s what the average retiree spends every month</a> |&nbsp;<a href="https://www.marketwatch.com/" target="_blank" rel="noreferrer noopener">MarketWatch</a> The gray-haired couple sipping champagne on a beach at sunset. Grandpa teaching the grandkids how to fish at the family lake house. Are these scenes of carefree times in retirement based on financial reality? According to the latest Bureau of Labor Statistics data, which is based on 2016 figures, “older households” — defined as those run by someone 65 and older — spend an average of $45,756 a year, or roughly $3,800 a month. That’s about $1,000 less than the monthly average spent by all U.S. households combined.



<a href="https://tickertape.tdameritrade.com/retirement/considering-retirement-abroad-16684" target="_blank" rel="noreferrer noopener">Looking to retire abroad? How to choose a location</a> |&nbsp;<a href="https://tickertape.tdameritrade.com/" target="_blank" rel="noreferrer noopener">TD Ameritrade</a> Do you dream of living in that cute little mountain town you visited on a trip to Tuscany, or perhaps spending your retirement on the beaches of the Caribbean or Bali? While some Americans may think about retiring to a place like Florida — one of&nbsp;<a href="https://tickertape.tdameritrade.com/retirement/2018/03/retirement-location-top-places-29660" target="_blank" rel="noreferrer noopener">the top places to retire in the U.S.</a> — some of the best places to retire aren’t in the U.S. at all. In fact, some of the most affordable places to retire are abroad.

Retirement Roundup: Why retirement isn’t the best time to change your financial approach

A digest of timely information and insight about finance, investing, and retirement.



<a href="https://www.cnbc.com/2018/05/09/almost-half-of-americans-dont-expect-to-have-enough-money-to-retire-comfortably--but-theres-some-good-news.html" target="_blank" rel="noreferrer noopener">Good news and bad news for people thinking about retirement&nbsp;</a>|&nbsp;<a href="http://www.cnbc.com" target="_blank" rel="noreferrer noopener">CNBC</a> Nearly half of Americans anticipate an uncomfortable retirement. Don&#8217;t listen to them. People are pessimistic about their financial future, but when their later decades finally roll around, well, they&#8217;re not so bad, according to new&nbsp;<a href="http://news.gallup.com/poll/233861/update-americans-concerns-retirement-persist.aspx" target="_blank" rel="noreferrer noopener">findings</a>&nbsp;from Gallup. After retirement, the share of people who report being comfortable swells to nearly 80 percent, the survey discovered.



<a href="https://www.cnbc.com/2018/05/02/medicare-costs-could-rise-by-more-than-200-percent-for-these-retirees.html" target="_blank" rel="noreferrer noopener">What retirees need to know about rising Medicare costs</a> |&nbsp;<a href="https://www.cnbc.com" target="_blank" rel="noreferrer noopener">CNBC</a> This year, high-income retirees can expect to shell out even more money to cover their Medicare premiums. That&#8217;s because as of 2018, there is a shift in the income brackets that are used to determine how much older Americans will pay for their Medicare Part B (preventive services) and Part D coverage for prescription drugs, according to a&nbsp;<a href="https://www.copera.org/retirement-roundup-good-and-bad-news-for-those-thinking-about-retirement" target="_blank" rel="noreferrer noopener" class="broken_link">recent analysis</a>&nbsp;by HealthView Services, a provider of health-care cost projection software.



<a href="https://www.marketwatch.com/story/one-country-is-missing-from-the-list-of-best-places-to-retire-america-2018-05-04" target="_blank" rel="noreferrer noopener">The best countries to retire in (America’s not on the list)</a> |&nbsp;<a href="http://www.marketwatch.com" target="_blank" rel="noreferrer noopener">MarketWatch</a> You may want to pack your bags because the United States did not make the list of 50 countries where it’s cheapest to retire. India ranked first, as ex-patriots would pay 93 percent less in rent than they would for a New York City apartment and save 70 percent on groceries, according to personal finance site&nbsp;<a href="https://www.gobankingrates.com/investing/here-are-best-countries-to-retire/" target="_blank" rel="noreferrer noopener">GoBankingRates</a>. Also ranked high on the list were Saudi Arabia, Mexico, Czech Republic, Germany, Turkey, and Taiwan. What makes them so great? The low cost of living, the less expensive health care, and the purchasing power Americans would have, to name a few.



<a href="https://www.marketwatch.com/story/the-huge-financial-burden-many-retirees-now-face-2018-05-08" target="_blank" rel="noreferrer noopener">How rising rents are impacting retirees</a> |&nbsp;MarketWatch Boomers and Gen Xers are now the most “rent-burdened” Americans, according to a new Pew Charitable Trusts&nbsp;report, <a href="http://www.pewtrusts.org/en/research-and-analysis/reports/2018/04/american-families-face-a-growing-rent-burden" target="_blank" rel="noreferrer noopener">Americans Face a Growing Rent Burden</a>. And things have only been getting worse for them. Pew defines rent-burdened as spending 30 percent or more of your income on rent; people who spend 50 percent or more on rent are, in Pew’s words, “severely rent burdened.”



<a href="http://time.com/money/5269821/this-map-shows-how-long-1-million-in-retirement-savings-will-last-in-every-state/" target="_blank" rel="noreferrer noopener">This map shows how long $1 million in retirement savings will last in every state</a> | <a href="http://time.com/money/" target="_blank" rel="noreferrer noopener">Time-Money</a> Location, location, location. It’s the battle hymn for buying real estate and a huge factor for retirees looking to make their savings last. All things being equal, $1 million in savings will last nearly twice as long in “low-cost” states such as Arkansas or Kansas than it will in Hawaii, according to an <a href="https://howmuch.net/articles/one-million-retirement-by-state" target="_blank" rel="noreferrer noopener">analysis</a> of state-by-state retirement cost-of-living data by HowMuch.net. What mattered most? Not surprisingly, housing costs and healthcare are the biggest variables to extending retirement savings.



<a href="https://www.nytimes.com/2018/05/11/health/nursing-home-ratings-yelp.html?" target="_blank" rel="noreferrer noopener">No luck finding the right nursing home? Maybe Yelp can help</a> | <a href="http://www.nytimes.com" target="_blank" rel="noreferrer noopener">The New York Times</a> Can you really select a quality nursing home by reading Yelp reviews? Gerontologists at the University of Southern California have been looking into Yelp nursing home reviews and think they make a useful addition to the homework any prospective resident or family member needs to undertake. It’s not that reviews posted to online platforms like Yelp are such reliable guides to nursing home quality, said Anna Rahman, senior author of a recent article in The Gerontologist. It’s that the supposed gold standard, the five-star ratings on the federal government’s own <a href="https://www.medicare.gov/nursinghomecompare/search.html" target="_blank" rel="noreferrer noopener">Nursing Home Compare</a> website, remains so faulty.

Retirement Roundup: Good and bad news for those thinking about retirement

A digest of timely information and insight about finance, investing, and retirement.



<a href="https://www.nextavenue.org/retirement-confidence-theres-catch/">Retirement confidence is up, but there’s a catch</a> |<a href="https://www.nextavenue.org">Next Avenue</a>Buoyed by a sharp rise in stock prices that left many retirement savers feeling flush, the number of U.S. workers who say they’re confident about their ability to retire comfortably edged up last year, according to a sweeping new survey. Sixty four percent of workers surveyed said they’re very or somewhat confident about their financial prospects in retirement, up from 60 percent in 2016. Confidence was even higher among those closest to quitting time: 71 percent of workers aged 55 and older professed confidence they’ll have enough money to live comfortably in retirement. The big catch to this seemingly good news story: For many Americans, the faith in their ability to live well after they stop working full-time seems to be misplaced. That’s the big takeaway from the 28th annual <a href="https://content.copera.org/retirement-confidence-rise/">Retirement Confidence Survey</a>, the country’s longest running look at the retirement prospects for workers and retirees. Conducted by the nonprofit <a href="https://www.ebri.org/">Employee Benefit Research Institute</a> (EBRI) with the research firm <a href="http://greenwaldresearch.com/">Greenwald &amp; Associates</a>, the survey reflects the expectations and experiences of more than 2,000 Americans aged 25 and older, roughly split between workers and retirees, who were polled online in January.



<a href="http://money.cnn.com/interactive/economy/pension-crisis-retired-workers/index.html" target="_blank" rel="noreferrer noopener">The big myth about America&#8217;s pension crisis</a> |&nbsp;<a href="https://www.plansponsor.com/" target="_blank" rel="noreferrer noopener">CNN </a>America’s <a href="http://money.cnn.com/2018/04/12/retirement/state-pension-funds/index.html" target="_blank" rel="noreferrer noopener">pension crisis</a> is growing — and a lot of people are pointing fingers. Public pension funds don&#8217;t have nearly enough money to pay for the benefits promised to government workers. The shortfall across the United States grew by $295 billion between 2015 and 2016, according to a recent report from the Pew Charitable Trusts. And a handful of cities and states, including California, Illinois and Kentucky, must cover enormous costs if they are going to make good on the promises made to public employees as they retire.



<a href="https://www.forbes.com/feature/best-places-to-retire-2018/#4efd4842663e">2018 best places to retire</a>&nbsp;|&nbsp;<a href="https://www.forbes.com">Forbes</a> This year&#8217;s roundup spotlights 25 cities in 18 different states across the country. They were selected based on an assortment of retirement-friendly features — from walkability to affordability — as well as data from the <a href="http://www.milkeninstitute.org/">Milken Institute</a>, <a href="https://www.nar.realtor/">National Association of Realtors</a>, <a href="https://content.copera.org/retirement-confidence-rise/">Bureau of Labor Statistics</a> and more.



<a href="https://www.fool.com/investing/2018/04/23/what-happens-if-you-try-retirement-and-decide-its.aspx">What happens if you try retirement and decide it&#8217;s not for you?</a> |<a href="https://www.fool.com/">Motley Fool</a> In this segment from an episode of <a href="https://www.fool.com/podcasts/answers/">Motley Fool Answers</a>, Robert Brokamp and Alison Southwick consider a slightly heretical idea for a company with a mission to get people financially ready for retirement: Maybe you don&#8217;t really want to retire at all. Jumping off from a <a href="https://www.nytimes.com/2018/03/30/health/unretirement-work-seniors.html">New York Times</a> article that interviewed a number of people who had quit working, then gone back, they talk about the way society and we, as individuals, have changed since the traditional idea of retirement really took hold. They then weigh the value of just postponing retirement, and dig into the results of a recent <a href="http://www.nber.org/papers/w24226">study</a> that shows how remarkably even a short delay will improve your financial situation when you finally do settle down to your post-employment life.



<a href="https://www.cnbc.com/2018/04/25/why-your-social-security-check-could-be-less-than-you-expect.html">Your Social Security check could be less than you expect. Here&#8217;s how to prevent that</a> |<a href="https://www.cnbc.com">CNBC </a>You may be disappointed with the size of your Social Security check in retirement. To that point, 27 percent of retirees said their payments are less than they expected, according to the latest Social Security <a href="https://nationwidefinancial.com/media/pdf/NFM-16829AO.pdf?_ga=2.125531790.525921983.1525107554-928368521.1525107554">survey</a> conducted by Nationwide Retirement Institute. At the same time, aspiring retirees said they expect to receive $1,628 per month on average. But current retirees are receiving an average of $1,257 per month. That 30 percent difference can be a really big deal for retirees who do not anticipate that shortfall, according to Tina Ambrozy, president of sales and distribution at Nationwide. &#8220;There&#8217;s a huge disconnect between what those folks who are approaching retirement believe their retirement will cover and what it will cover,&#8221; Ambrozy said. &#8220;The gap is pretty significant.&#8221;



<a href="https://www.marketwatch.com/story/our-retirement-system-is-unfair-to-women-heres-why-2018-04-23">Our retirement system is unfair to women. Here’s why</a> |<a href="https://www.marketwatch.com">MarketWatch</a>A lot has been written about the “sandwich generation,” working adults under pressure to raise kids and care for aging parents — and probably forgoing their own financial needs to pull it off. To which women of just about any generation might say: Welcome to my world! Kara Stiles at Forbes wrote <a href="https://www.forbes.com/sites/karastiles/2017/12/07/the-unsettling-truth-about-women-and-retirement/#2e73deed1b63">an excellent piece</a> that details the problems women face in saving for retirement. These include the wage gap, losing earning years to caregiving for children, working part time (so no benefits), and just plain living longer than men. That’s why women are 80 percent more likely than men to be poor at retirement age, according to the <a href="https://www.nirsonline.org/reports/shortchanged-in-retirement-continuing-challenges-to-womens-financial-future/">National Institute on Retirement Security</a>.

Retirement Roundup: Retirement confidence on the rise?

A digest of timely information and insight about finance, investing, and retirement.



<a href="http://files.constantcontact.com/701ae45c001/16bb371d-1d76-4b07-a4fd-3f2474997ee3.pdf?ver=1524054150000" target="_blank" rel="noreferrer noopener">Response to Pew report, The State Pension Funding Gap</a>&nbsp;|&nbsp;<a href="https://www.nasra.org/" target="_blank" rel="noreferrer noopener">National Association of State Retirement Administrators </a>The vast majority of public pension plans have assets to continue paying benefits for decades, according to a recent statement from the National Association of State Retirement Administrators (NASRA) in response to&nbsp;recently published research on public plans from <a href="http://www.pewtrusts.org/en" target="_blank" rel="noreferrer noopener">The Pew Charitable Trusts</a>. Nearly all states have made changes in recent years to benefit levels, financing structures, and actuarial methods and assumptions to preserve or restore their sustainability. Many of these reforms and adjustments result in near-term cost increases while advancing long-term sustainability, and have been recommended by Pew in the past.&nbsp;States and pension plans can be expected to continue to make changes as necessary to ensure their sustainability.



<a href="https://www.plansponsor.com/public-sector-pension-changes-create-residual-effects/" target="_blank" rel="noreferrer noopener">Public-sector pension changes create residual effects</a> |&nbsp;<a href="https://www.plansponsor.com/" target="_blank" rel="noreferrer noopener">PlanSponsor </a>A new Issue Brief publication from the <a href="https://slge.org/" target="_blank" rel="noreferrer noopener">Center for State and Local Government Excellence</a> (SLGE) seeks to answer the broad and challenging question, “How Have Pension Cuts Affected Public Sector Competitiveness?” The analysis explores the impacts of public pension reform from 2005 to 2014, finding some statistically significant evidence that cuts to pension benefits have reduced the ability of public-sector employers to compete with private-sector employers for workers. As the organization points out, there is a growing need for states and localities to consider in detail how <a href="https://www.plansponsor.com/case-study-warns-effect-move-public-db-public-dc/" target="_blank" rel="noreferrer noopener">pension benefit reductions may impact public-worker recruitment and retention</a>, and whether more analytical work can/should be done to further examine the workforce impacts of pension cuts. Read the <a href="https://slge.org/wp-content/uploads/2018/04/PensionCutsAndCompetitiveness.pdf" target="_blank" rel="noreferrer noopener">Issue Brief</a>.



<a href="http://money.cnn.com/2018/04/17/retirement/multiemployer-pension-committee/index.html">1 million Americans are counting on Congress to save their pensions</a> |<a href="http://money.cnn.com">CNN Money</a> More than 1 million workers and retirees could lose their pension benefits within 20 years. Many of them were construction workers or truck drivers who belonged to a union and paid into pension funds set up to cover workers from multiple employers. But about 100 of these pension plans are expected to run out of money in the next two decades, according to a <a href="https://www.copera.org/pension-plans-continue-evolve" class="broken_link">report</a> from the <a href="http://crr.bc.edu/">Center for Retirement Research at Boston College</a>. Lawmakers on both sides of the aisle agree that something must be done. A bipartisan committee headed by Republican Senator Orrin Hatch and Democratic Senator Sherrod Brown was created earlier this year with a mandate to come up with a legislative fix by November. &#8220;A number of the country&#8217;s biggest multiemployer pension plans are approaching insolvency, which poses a threat of small businesses going bankrupt, retirees seeing their benefits cut, and taxpayers getting stuck footing the bill,&#8221; Hatch said in a statement. (The Senate Finance Committee is currently accepting <a href="https://content.copera.org/pension-plans-continue-evolve/">public comment</a>.)



<a href="https://finance.yahoo.com/news/retirement-surprises-retirees-wish-had-163851006.html" target="_blank" rel="noreferrer noopener">Retirement surprises: What retirees wish they had known</a>&nbsp;|&nbsp;<a href="https://finance.yahoo.com" target="_blank" rel="noreferrer noopener">Yahoo! Finance</a> Retirement isn’t exactly as expected for many, with surprises including a younger-than-expected retirement age and higher health care costs, according to the <a href="http://news.gallup.com/topic/investor_and_retirement_optimism_index.aspx" target="_blank" rel="noreferrer noopener">Wells Fargo/Gallup Investor and Retirement Optimism Index</a>. Nearly one quarter of retired investors say they stopped working earlier than they’d have liked, which, according to Joe Ready, head of Wells Fargo Institutional Retirement and Trust, is a reason to consider different retirement scenarios in their planning. “Life events happen, and people don’t always get to choose when they retire — which is why it’s important to have a well thought-out plan that maps out different retirement age scenarios and projected costs in retirement,” said Ready. The average retirement age of those surveyed was 62, significantly below the age of 70 to which many are being encouraged to continue working to maximize savings and their Social Security benefits. Twenty-seven percent of men, and 19 percent of women, felt that their retirement age was earlier than they would have hoped.



<a href="https://www.marketwatch.com/story/how-retirement-investors-can-protect-themselves-even-without-a-fiduciary-rule-2018-04-13" target="_blank" rel="noreferrer noopener">How retirement investors can protect themselves — even without a fiduciary rule</a> |<a href="https://www.marketwatch.com" target="_blank" rel="noreferrer noopener">MarketWatch</a>A court may have blocked implementation of the fiduciary rule, but retirees can still protect themselves. That’s referring to the Department of Labor’s rule that, until it was <a href="https://www.marketwatch.com/story/appeals-court-shoots-down-labor-departments-fiduciary-rule-2018-03-15" target="_blank" rel="noreferrer noopener">blocked in mid-March by a U.S. appeals court</a>, would have legally bound brokers and advisers who handle retirement accounts to act in the best interests of their clients when they receive any compensation. Though that court ruling isn’t necessarily the final word on the matter, some are now <a href="https://www.barrons.com/articles/the-dol-fiduciary-rule-looks-grievously-wounded-1521670604" target="_blank" rel="noreferrer noopener">predicting that the rule will never get implemented</a>. To be sure, some think this is a good outcome, while others are lamenting it. But the point of this column is not to take a position either pro or con on the fiduciary rule but instead to show how you can still arrange it so that you are just as protected as you would have been had the fiduciary rule gone into effect.



<a href="http://www.governing.com/columns/smart-mgmt/col-states-retirement-savings-private-sector-social-experiment.html" target="_blank" rel="noreferrer noopener">The States’ Retirement-Savings Social Experiment</a> |<a href="http://www.governing.com/" target="_blank" rel="noreferrer noopener">Governing</a>Several states are undertaking what amounts to a significant social experiment, one that leaders and policymakers in other states will want to watch closely. Concerned about private-sector employees&#8217; lack of retirement savings and the potential impact on poverty levels, and subsequently on state budgets, legislators in nine states &#8212; California, Connecticut, Illinois, Maryland, Massachusetts, New Jersey, Oregon, Vermont, and Washington-have enacted programs designed to remedy both problems. They have good reason. Unlike most government employees, more than 30 million of the nation&#8217;s private-sector workers &#8212; about a third of the workforce &#8212; lack access to a retirement savings plan through their jobs. While some of these employees may have other savings vehicles, such as individual retirement accounts (IRAs), research by The Pew Charitable Trusts has shown that only 28 percent of those without access to an employer-provided plan have any retirement savings at all.

Retirement Roundup: State and local pension plans continue to evolve

A digest of timely information and insight about finance, investing, and retirement.



<a href="https://hbr.org/2018/03/americans-havent-saved-enough-for-retirement-what-are-we-going-to-do-about-it">Americans haven’t saved enough for retirement. What are we going to do about it?</a>&nbsp;|&nbsp;<a href="https://hbr.org">Harvard Business Review</a> Ultimately, the shift from defined benefit pension plans to employee-directed defined contribution 401(k)s <a href="http://crr.bc.edu/wp-content/uploads/2015/06/wp_2015-17.pdf">is the major driver of the impending retirement crisis</a>. Beginning in the 1980s, this move helped companies reduce their retirement liabilities and better meet their quarterly financial targets, but put an unmanageable burden on employees. For 401(k)s to be effective, for example, contributions must be made consistently throughout a worker’s career. In practice, people tend to make contributions sporadically. They also struggle in choosing contribution levels and investment options, and avoiding the temptation of using their savings for other needs.



<a href="https://content.copera.org/retirement-roundup-what-can-be-done-about-the-impending-retirement-crisis/">Ohio lawmakers kill bill to cut PERS benefits</a> |<a href="http://www.dispatch.com">The Columbus Dispatch </a>Republican House leaders shut down hearings on legislation to reduce benefits for Ohio’s largest public retirement system after running into fierce opposition from retirees. The measure would implement recommendations by the Ohio Public Employees Retirement System – or OPERS – aimed to shore up the $90 billion fund. After a handful of hearings, the bill did not have enough votes to pass. It was opposed by many Republican and Democratic lawmakers, and even the state representative sponsoring the bill was skeptical about the plan.



<a href="https://www.marketwatch.com/story/why-early-retirement-can-be-a-killer-2018-03-19">Why early retirement can be a killer</a> |<a href="https://www.marketwatch.com">MarketWatch</a>Think twice – nay, thrice – before claiming your Social Security benefits at age 62. Your life might depend on your decision. Literally. That’s because there’s a marked increase in mortality among men who retire at 62 and begin receiving Social Security, according to a fascinating new study that recently was distributed by the National Bureau of Economic Research. Its authors are two economics professors: Maria Fitzpatrick of Cornell University and Timothy Moore of the University of Melbourne in Australia. The increase in the death rate is quite large, furthermore, particularly among males who retire and claim Social Security at 62: By 20 percent, according to the study. Among females, in contrast, the data are inconclusive.



<a href="https://www.nytimes.com/2018/03/30/health/unretirement-work-seniors.html">Many Americans try retirement, then change their minds</a> |<a href="https://www.nytimes.com">The New York Times</a> Sue Ellen King had circled her retirement date on the calendar: March 8, 2015. She had worked as a critical care nurse and nursing educator at University of Florida Health (UF Health) in Jacksonville, Fla., for 38 years; co-workers joked that she was there when the hospital’s foundation was laid, which happened to be true. So the send-offs went on for days — parties in the units where she had worked, a dinner in her honor, gifts including a framed photo signed by colleagues. Ms. King felt ready. She’d turned 66, her full Social Security retirement age. She’d invested fully in the hospital’s 401(k) plan and consulted with a financial adviser. She and her husband, who had already retired, had paid off the mortgage on their three-bedroom ranch. They took a week’s trip to Hilton Head, S.C., to celebrate their impending freedom. But her retirement lasted just three months. “I’d done all the preparation, except to really think about what life was going to be like,” Ms. King said. Days spent organizing recipes and photos, and lunching with friends, proved less engaging than expected.



<a href="https://www.ai-cio.com/news/minnesota-senate-unanimously-approves-pension-bill/">Minnesota Senate unanimously approves pension bill</a> |<a href="https://www.ai-cio.com">Chief Investment Officer</a>The Minnesota State Senate has unanimously approved a pension overhaul bill that proposes mandatory contribution increases, reduced cost-of-living adjustments, and a lower investment rate of return for the state’s public retirement plans. Backers of the reform say the proposed bill would save Minnesota $6.1 billion over a 30-year period, $3.4 billion of which will be in immediate savings. They also say that if enacted, the state’s public pension plans’ funded status will be between 85 percent and 95 percent by 2048 from approximately 77.8 percent in 2017. “This is the largest pension reform bill in Minnesota’s history,” said the bill’s author, Sen. Julie Rosen (R), in a statement, adding that it “took years of work and negotiations.”



<a href="https://blogs.wsj.com/economics/2018/04/03/why-women-should-keep-working-after-their-husbands-retire/">Why women should keep working after their husbands retire</a> |<a href="https://blogs.wsj.com/">The Wall Street Journal</a>American women should keep working after their husbands retire if they want to catch up in terms of Social Security benefits, based on new research. Married couples often choose to stop working at the same time, taking advantage of the opportunity to travel or otherwise spend time together. But most married women are younger than their husbands, and some have delayed or interrupted careers due to child-rearing. Waiting longer to retire would bring them disproportionate gains under the formula for calculating Social Security retirement benefits, economist Nicole Maestas said in a recent paper. “If you have had a period out of the labor force, or a period of part-time work, or a period when you were earning much less than you’re earning now….you have an opportunity to replace those zeros with positive numbers that are high,” said Ms. Maestas, an associate professor of health care policy at Harvard Medical School. “I’m not sure people are fully aware of all of that.”

Retirement Roundup: What to do about the ‘impending retirement crisis’

A digest of timely information and insight about finance, investing, and retirement.



<a href="https://content.copera.org/retirement-roundup-interim-ceo-baker-tapped-to-join-institutional-investor-group/" target="_blank" rel="noreferrer noopener">Council of Institutional Investors taps Ash Williams as new chairman</a> |&nbsp;<a href="https://www.copera.org/federal-legislation-hurt-institutional-investors-main-street-retirees" target="_blank" rel="noreferrer noopener" class="broken_link">Pensions &amp; Investments</a>The Council of Institutional Investors on Wednesday announced that Ron Baker, PERA’s Interim Executive Director, has joined their board and Ashbel Williams, executive director and chief investment officer of the $209.7 billion Florida State Board of Administration, Tallahassee, was named chairman. Other new board members for 2018-2019 include Jerry Albright, CIO of the $146 billion Texas Teacher Retirement System, Austin; Renaye Manley, deputy director, strategic initiatives department at the Service Employees International Union; Thomas McIntyre, international representative at the International Union of Bricklayers and Allied Craftworkers; Hope Mehlman, chief governance officer and assistant corporate secretary at Regions Financial Corp.; and Jennifer Peet, corporate governance director for the Oregon State Treasury and the $78.9 billion Oregon Public Employees Retirement Fund, Salem.



<a href="https://www.nytimes.com/2018/03/16/business/fiduciary-rule-retirement-planning.html" target="_blank" rel="noreferrer noopener">Court overturns Obama-era rule on retirement planners</a>&nbsp;|&nbsp;<a href="https://www.nytimes.com" target="_blank" rel="noreferrer noopener">The New York Times</a> A federal appeals court has ruled that the Department of Labor overstepped its authority when it wrote a rule that required financial professionals, including brokers and insurance agents, to put their customers’ financial interests ahead of their own. The United States Court of Appeals for the Fifth Circuit overturned a lower court’s ruling in a 2-to-1 decision siding with the plaintiffs, which include several groups representing the financial services industry. The strongly worded decision is not necessarily the end of the <a href="https://www.copera.org/retirement-roundup-long-1-million-last" target="_blank" rel="noreferrer noopener" class="broken_link">fiduciary rule</a>, lawyers said, but its future is highly uncertain.



<a href="https://www.courier-journal.com/story/news/politics/2018/03/14/stivers-dont-see-lot-hope-pension-bill/424601002/" target="_blank" rel="noreferrer noopener">Kentucky&#8217;s pension reform bill is unlikely to pass</a> |<a href="https://www.courier-journal.com" target="_blank" rel="noreferrer noopener">Louisville Courier-Journal </a>Key Senate Republican leaders acknowledged last Wednesday there is little hope for passage of the pension reform bill during the 2018 General Assembly and began warning of serious ramifications if the bill is not passed. &#8220;I don’t see a lot of hope for it. That’s just the reality,” Senate President Robert Stivers said Wednesday of the status of the pension measure, Senate Bill 1. The Senate president said, &#8220;I am looking at legislation to introduce later on. I do not want to come into a special session, but it may be necessary.&#8221;



<a href="https://www.cnbc.com/2018/03/09/women-fail-to-save-enough-for-retirement-heres-how-to-fix-that.html" target="_blank" rel="noreferrer noopener">Women fail to save enough for retirement. Here&#8217;s how to fix that</a> |<a href="https://www.cnbc.com" target="_blank" rel="noreferrer noopener">CNBC</a>When it comes to saving for retirement, most women aren&#8217;t giving themselves a passing grade. Only 12 percent of working women are &#8220;very confident&#8221; that they will be able to retire comfortably, according to new research from the Transamerica Center for Retirement Studies. Another 46 percent of women are &#8220;not too confident&#8221; or &#8220;not at all confident&#8221; about their retirement, according to the survey. That insecurity highlights the unique challenges women face when it comes to saving for their later years.



<a href="http://time.com/money/5187025/what-retirees-can-learn-from-this-years-oscar-winners/" target="_blank" rel="noreferrer noopener">What retirees can learn from this year&#8217;s Oscar winners</a> |&nbsp;<a href="http://time.com/money/" target="_blank" rel="noreferrer noopener">Time-Money</a>This year’s Oscars delivered a powerful and inspiring message for anyone who’s nearing or is at retirement age: Achievement doesn’t have an expiration date, and success and fulfillment are still possible even as you’re increasingly reeling in the years.



<a href="https://www.marketwatch.com/story/the-irrational-time-people-save-for-retirement-2018-03-19" target="_blank" rel="noreferrer noopener">The irrational thing some people do when they retire</a> |&nbsp;<a href="https://www.marketwatch.com/" target="_blank" rel="noreferrer noopener">MarketWatch</a>The best time to save for retirement is decades before it starts, but some people get into the habit of squirreling away money only after calling it quits. Researchers from Columbia Business School and Copenhagen Business School <a href="http://www.nber.org/papers/w24405" target="_blank" rel="noreferrer noopener">found</a> that after retirement, retirees were more inclined to reduce consumer debt and increase their liquid savings. The data doesn’t give a definitive explanation, but researchers call it the “retirement-consumption puzzle,” suspecting it is a mix of work-related expenses disappearing and more leisure time to spend cooking and looking for better deals.

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