
<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://finance.yahoo.com/news/fed-schmid-says-uncertain-far-183000678.html" target="_blank" rel="noreferrer noopener" class="broken_link"><strong>Fed Officials Fret Over How Far They Can Lower Interest Rates | Bloomberg via Yahoo! Finance</strong></a></h4>



<p>What will the Federal Reserve do next? It appears even Fed officials aren’t sure, given their comments at a recent conference. While it’s likely we’ll see additional interest rate cuts in the future, it’s unclear how low they’ll go, as officials have suggested the rate needed to keep inflation in check may be higher than in the pre-pandemic years.</p>



<h4 class="wp-block-heading"><a href="https://www.planadviser.com/retirement-benefits-valued-workers-last-year/" target="_blank" rel="noreferrer noopener"><strong>Retirement Benefits Valued by More Workers Than Last Year | PlanAdviser</strong></a></h4>



<p>Retirement benefits have grown in importance to workers, according to a recent survey. That survey found 62% of respondents said retirement plans contributed most to their financial security, up from 56% the year before. Other priorities included health insurance and paid time off.</p>



<h4 class="wp-block-heading"><a href="https://www.cnbc.com/2024/11/11/credit-card-debt-among-retirees-jumps-significantly.html" target="_blank" rel="noreferrer noopener"><strong>Credit Card Debt Among Retirees Jumps | CNBC</strong></a></h4>



<p>New poll data shows just how much retirees’ credit card debt has grown in recent years. According to the Employee Benefit Research Institute, 68% of retirees had outstanding credit card debt in 2024, up from 40% just two years ago. In general, EBRI says retirees and those approaching retirement today are much more likely to have debt—and more of it—than in the past.</p>



<h4 class="wp-block-heading"><a href="https://www.nextavenue.org/guide-model-for-dementia-caregivers/" target="_blank" rel="noreferrer noopener"><strong>GUIDE Model Offers Hope, Support for Dementia Caregivers | Next Avenue</strong></a></h4>



<p>The Centers for Medicare and Medicaid Services is rolling out a major initiative known as Guiding an Improved Dementia Experience (GUIDE). The new framework aims to fill existing gaps in dementia care and support for caregivers—including training and education, financial assistance for caregiver breaks, and better access to around-the-clock virtual care.</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: Fed Charting Uncertain Course with Interest Rates


<h4 class="wp-block-heading"><a href="https://www.9news.com/article/news/local/local-politics/new-colorado-laws-effect-july-1-2024/73-fa0723cb-9ee3-4666-9d67-851b0a130aef" target="_blank" rel="noreferrer noopener"><strong>New Colorado Laws Go Into Effect July 1, 2024 | 9News</strong></a></h4>



<p>During the recently concluded legislative session, state lawmakers passed more than 500 bills and sent them to Gov. Jared Polis for action. Of the bills signed into law, some are now starting to go into effect. Here are details on new laws taking effect July 1, including one pertaining to PERA retirees returning to work in school districts.</p>



<h4 class="wp-block-heading"><a href="https://www.marketplace.org/2024/06/12/elevated-interest-rates-rate-hike-lagging-effect/" target="_blank" rel="noreferrer noopener"><strong>The &#8220;Lag Effect&#8221; of High Interest Rates is Playing Out | Marketplace</strong></a></h4>



<p>When the Federal Reserve began raising interest rates in an effort to tamp down inflation in 2022, it did so with the understanding that the effects of higher rates would take some time to be realized. Experts say we’re now seeing some of those effects, though relief in the form of lower rates may not come as soon as previously expected.</p>



<h4 class="wp-block-heading"><a href="https://www.cnbc.com/2024/06/13/dont-just-set-it-and-forget-it-how-to-do-a-mid-year-financial-checkup.html" target="_blank" rel="noreferrer noopener"><strong>Don’t &#8216;Just Set It and Forget It&#8217;: How To Do a Mid-Year Financial Checkup | CNBC</strong></a></h4>



<p>We’re halfway through 2024, and it’s a great time to pause and take stock of your financial situation for the year so far and gauge your progress toward meeting any goals you might have made. Taking a look at your cash flow, account balances, and even thinking ahead to next year’s tax returns can all help you make sure you’re on the right track.</p>



<h4 class="wp-block-heading"><a href="https://www.morningstar.com/retirement/8-little-known-facts-about-required-minimum-distributions" target="_blank" rel="noreferrer noopener"><strong>8 Little-Known Facts About RMDs | Morningstar</strong></a></h4>



<p>If you’re retired, you’re probably familiar with required minimum distributions (RMDs) which are retirement account withdrawals you have to take from plans like IRAs and 401(k)s each year once you reach a certain age. But knowing when to start taking them and how much to withdraw can be a challenge, especially as rules change. Here are some tips and some common misconceptions about RMDs.</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 Laws Going Into Effect July 1


<h4 class="wp-block-heading"><a href="https://coloradosun.com/2023/01/20/colorado-retirement-plan-secure-savings/" target="_blank" rel="noreferrer noopener"><strong>Colorado Retirement Plan Launches for Those Without One | The Colorado Sun</strong></a></h4>



<p>The Colorado SecureSavings plan is now officially up and running. The program, which covers private-sector workers who do not have access to a retirement plan through their employer, sets up a Roth IRA that employees can take with them when they move jobs.</p>



<h4 class="wp-block-heading"><a href="https://www.cbsnews.com/news/debt-limit-ceiling-impact-on-your-finances-social-security-medicare-401k/" target="_blank" rel="noreferrer noopener"><strong>Debt Ceiling: 3 Ways Your Finances Could be Affected | CBS News</strong></a></h4>



<p>Earlier this month, the federal government hit its debt limit of $31.4 trillion. The U.S. Treasury is taking steps to avoid defaulting on its debt while Congress decides on action. While a default is unlikely, it could have wide-reaching effects on the economy and Americans’ finances.</p>



<h4 class="wp-block-heading"><a href="https://www.kiplinger.com/taxes/tax-season-is-here-what-to-know" target="_blank" rel="noreferrer noopener"><strong>Tax Season 2023: Tax Day, Key Changes, and Smaller Refunds? | Kiplinger</strong></a></h4>



<p>The Internal Revenue Service is now accepting tax returns for tax year 2022. For most people, the filing deadline this year is Tuesday, April 18. Here are other key details to know before filing.</p>



<h4 class="wp-block-heading"><a href="https://www.cnbc.com/2023/01/23/generation-x-carries-the-most-credit-card-debt-study-shows.html" target="_blank" rel="noreferrer noopener"><strong>Generation X Carries the Most Credit Card Debt, Study Shows | CNBC</strong></a></h4>



<p>Americans’ credit card debt is on the rise — totaling $930 billion in the third quarter of 2022 — but it appears Generation X may be carrying more of that burden than other generations. According to a new survey, Gen Xers owe an average of $7,004 on their credit cards. Compare that with $6,785 for Baby Boomers, $5,928 for Millennials, and $2,876 for Generation Z.</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 SecureSavings Plan Up and Running


<h4 class="wp-block-heading"><a href="https://www.aarp.org/health/medicare-insurance/info-2023/medicare-changes-in-2023.html" target="_blank" rel="noreferrer noopener"><strong>The Biggest Changes Coming to Medicare in 2023 | AARP</strong></a></h4>



<p>If you’re one of the millions of Americans enrolled in Medicare, you (and your wallet) may notice some important changes to the program this year. In addition to lower Part B premiums, this year should bring caps on insulin copays, expanded access to mental health services and more free vaccines. Medicare is also laying the groundwork for its new drug price negotiation process.</p>



<h4 class="wp-block-heading"><a href="https://www.copera.org/news-you-should-know-whats-changing-for-medicare-in-2023" target="_blank" rel="noreferrer noopener"><strong>Lawmakers Plan Crypto Panel in First Move to Oversee Troubled Industry | POLITICO</strong></a></h4>



<p>Lawmakers in Congress are setting up a new subcommittee dedicated to overseeing and regulating cryptocurrency. The Subcommittee on Digital Assets, Financial Technology and Inclusion will fall under the existing House Financial Services Committee and will be tasked with creating policy around digital currencies and promoting equity in financial technology.</p>



<h4 class="wp-block-heading"><a href="https://www.cnbc.com/2023/01/03/why-the-interest-on-your-savings-account-may-be-way-behind-the-fed.html" target="_blank" rel="noreferrer noopener"><strong>Why the Interest on Your Savings Account May be Way Behind the Fed | CNBC</strong></a></h4>



<p>With the Federal Reserve raising interest rates significantly in the past year, you may be expecting to see the rate on your savings account(s) rising accordingly. But some banks may only offer higher rates to new customers, or only to certain types of accounts. It’s worth doing some research to find out if you’re getting the best rate.</p>



<h4 class="wp-block-heading"><a href="https://www.popsci.com/health/hydration-healthy-aging/" target="_blank" rel="noreferrer noopener"><strong>Drinking Enough Water Linked to Healthy Aging | Popular Science</strong></a></h4>



<p>There’s a lot of advice out there about how to slow down or reverse aging, but it turns out a key element to healthy aging is also a simple one: Drinking enough water. New long-term research finds people who stay well-hydrated tend to have lower rates of chronic health problems and a lower risk of dying early.</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: What’s Changing for Medicare in 2023


<h4 class="wp-block-heading"><a href="https://www.cnbc.com/2021/08/20/congress-aims-to-help-retirement-savers-find-lost-401k-pension-plans.html" target="_blank" rel="noreferrer noopener"><strong>Lawmakers want to help retirement savers find their lost 401(k) and pension plans</strong></a><strong> | CNBC</strong></h4>



<p>Workers who leave their jobs sometimes leave their retirement accounts behind — to the tune of more than 16 million accounts holding less than $5,000 left sitting in workplace plans between 2004 and 2013, according to one study. Part of a retirement legislation package under consideration in Congress is a plan to create a national “lost and found” database for such accounts, making it easier to find money that’s been left behind.</p>



<h4 class="wp-block-heading"><a href="https://www.marketwatch.com/story/generation-z-invests-differently-and-how-firms-are-responding-to-that-11629890519" target="_blank" rel="noreferrer noopener"><strong>Saving for retirement on TikTok? Gen Z invests differently</strong></a><strong> | MarketWatch</strong></h4>



<p>TikTok may have a reputation as an app for teens to share dance videos, but it’s a growing platform for sharing financial literacy information as well. As financial institutions change their strategies to reach younger audiences, some of them are branching out into social media apps like TikTok and recruiting influencers to help spread brand awareness.</p>



<h4 class="wp-block-heading"><a href="https://www.cnbc.com/2021/08/27/annuities-make-it-easier-for-retirees-to-spend-research-finds.html" target="_blank" rel="noreferrer noopener"><strong>Annuities make it easier for retirees to spend, research finds</strong></a><strong> | CNBC</strong></h4>



<p>Retirees who rely on retirement accounts like 401(k)s/IRAs and their personal savings may worry about outliving their account balances and overspending. Purchasing an annuity, which provides guaranteed lifetime payments, may help ease that anxiety — a recent research paper found retirees with guaranteed income may spend as much as twice the amount spent by those relying on their savings.</p>



<h4 class="wp-block-heading"><a href="https://www.barrons.com/articles/aging-in-place-retirees-prep-your-home-51630076579" target="_blank" rel="noreferrer noopener"><strong>Aging in place is gaining popularity among retirees. How to prep your home.</strong></a><strong> | Barron’s</strong></h4>



<p>More older Americans are choosing to stay in their homes as they age, either to avoid or postpone moving into an assisted living facility. Here are some things to consider and some tips for making sure a home is well-equipped for aging adults.</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: Lawmakers Look to Create National ‘Lost and Found’ for Retirement Accounts


<p><a href="https://www.benefitspro.com/2021/07/29/2-retirement-bills-you-should-know-about-secure-2-0-and-cardin-portman-strong-support/" target="_blank" rel="noreferrer noopener">2 retirement bills you should know about: &#8216;SECURE 2.0&#8217; and &#8216;Cardin-Portman&#8217; have strong bipartisan support</a> | Benefits Pro</p>



<p>Two bills at the federal level could tweak a number of retirement-related laws, including changes that simplify plan administration and communication, raising the required minimum distribution age, and raising catch-up contribution limits. Onlookers say the lack of controversial issues in the bills mean that each has a good chance of passing.</p>



<p><a href="https://apnews.com/article/health-colorado-0ac1f8c09ae087825b7aa605f2b38021" target="_blank" rel="noreferrer noopener">Polis: Colorado program keeps health insurance costs low</a> | AP</p>



<p>Rates on Colorado’s insurance exchange in 2022 will likely look a lot like they do in 2021, according to Gov. Polis. One reason cited for the price stability: the state’s reinsurance program. The program, which began in 2019, reduces the impact that high-cost patients have on the entire insured population. While prices will remain relatively stable across the state, some regions, including Western counties, will see higher costs.</p>



<p><a href="https://www.copera.org/news-you-should-know-2-retirement-bills-you-should-know-about" target="_blank" rel="noreferrer noopener">Proposed legislation aims to make long-term care insurance more affordable</a> | McKnight’s Senior Living</p>



<p>The cost of long-term care can quickly eat through retiree savings. A new law introduced in the U.S. Senate would allow people to pay for long-term care insurance, which helps cover some of these costs, using money in retirement accounts. This allowance would have a $2,500 annual cap.</p>



<p><a href="https://www.kiplinger.com/personal-finance/603162/how-are-you-lying-to-yourself-about-money" target="_blank" rel="noreferrer noopener">7 Money Lies We Tell Ourselves</a> | Kiplinger</p>



<p>Money is emotional. This can make it a tough topic to talk about with a partner, parents, or friends. But don’t forget another person for whom talks about money can get tricky: you. Humans are great at avoiding hard truths about money. Read more about these seven common pitfalls.</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: 2 Retirement Bills You Should Know About


<p><a href="https://squaredawayblog.bc.edu/squared-away/caring-for-a-parent-can-take-financial-toll/?ct=t(Y_COPY_01)" target="_blank" rel="noreferrer noopener">Caring for a Parent Can Take Financial Toll</a> | Squared Away Blog</p>



<p>Those who care for aging parents know that providing care isn’t cheap. There are direct costs like gas and picking up household goods like groceries, as well as indirect costs, which can include reducing hours at work or retiring sooner. Researchers looked into what caregiving means in dollar terms for women in their 50s and 60s.</p>



<p><a href="https://www.forbes.com/advisor/banking/financial-rules-of-thumb-that-were-becoming-obsolete-before-covid-19/" target="_blank" rel="noreferrer noopener">Millennial Myth-Busting: 5 Financial Rules of Thumb That Were Becoming Obsolete Even Before Covid-19 Arrived</a> | Forbes</p>



<p>Which pieces of time-tested advice are younger adults following…and which are they casting aside? While you might be surprised at a few of these (“I thought owning was <em>always</em> better than renting!”), know that the wisdom of the ages is not being completely discarded. As the article states: “61% of adults still rely primarily on their parents for financial guidance.”</p>



<p><a href="https://www.kiplinger.com/personal-finance/how-to-save-money/family-savings/601739/hope-for-the-best-plan-for-the-worst" target="_blank" rel="noreferrer noopener">Tune Up Your Finances for a Better 2021</a> | Kiplinger</p>



<p>Getting finances in order is a popular New Year’s resolution. Although we all know the success rate of most resolutions, a resolution that requires a bit of paperwork might be a great fit in early 2021 as people continue to self isolate in their homes. Use this checklist to get your papers in order so you can hit the ground running on January 1.</p>



<p><br><a href="https://www.benefitspro.com/2020/12/07/report-primary-care-spending-on-the-decline/" target="_blank" rel="noreferrer noopener">Report: Primary care spending on the decline</a> | Benefits Pro</p>



<p>At first glance, this might sound like good news—a rare story about health care costs that mention spending going down. But read on and you’ll learn why this is cause for concern. Primary care spending is a cost-effective way of delivering care. Meeting with your normal doctor on a regular basis can help catch issues early, before they become more worrisome <em>and</em> expensive to address.</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 Cost of Caring for Parents


<p><em>A digest of news from publications around the nation about finance, investing, and retirement.</em></p>



<p><a rel="noreferrer noopener" href="https://www.cpr.org/2020/04/07/colorados-government-braces-for-up-to-3-years-of-cuts/" target="_blank">Colorado’s Government Braces For Up To 3 Years Of Cuts</a> | <a rel="noreferrer noopener" href="http://www.cpr.org" target="_blank">CPR</a></p>



<p>Colorado may face three years of reduced revenue in a worst-case-scenario projection. In response, state government offices have been asked to trim millions from their 2020 budgets. Departments have been asked to review all spending decisions, suspend hiring for all non-critical positions, and delay new contracts and programs, if possible.</p>



<p><a href="https://www.forbes.com/sites/advisor/2020/03/22/your-money-and-coronavirus-a-financial-protection-guide/#463fe051306a" target="_blank" rel="noreferrer noopener">Your Money And Coronavirus: A Financial Protection Guide</a> | <a href="http://www.forbes.com" target="_blank" rel="noreferrer noopener">Forbes</a></p>



<p>Student loan repayment help, stimulus checks, mortgage relief, aid for small businesses: The array of financial challenges and remedies you’ve been hearing lately about can be tough to keep straight. Forbes has created a helpful page that organizes this glut of information, so you can find what you need quickly.</p>



<p><a href="https://squaredawayblog.bc.edu/squared-away/money-shame-surfaces-in-tough-times/" target="_blank" rel="noreferrer noopener">Money Shame Surfaces in Tough Times</a> | <a href="https://crr.bc.edu/" target="_blank" rel="noreferrer noopener">Squared Away Blog</a></p>



<p>Money is an emotional topic, and many people are reluctant to talk about it. At a time when financial uncertainties are a source of anxiety for millions of people, experts recommend talking openly about it. You don’t need to share every detail of your financial life in order to discover that your concerns are shared by many others. The sense that you are not alone can be a powerful antidote to the feelings of shame and anxiety that money-related worries can bring.</p>



<p><a href="https://www.vox.com/2020/4/3/21206931/what-we-know-about-congress-fourth-coronavirus-bill" target="_blank" rel="noreferrer noopener">What we know about the fourth coronavirus relief bill</a> | <a href="http://www.vox.com" target="_blank" rel="noreferrer noopener">Vox</a></p>



<p>The CARES Act is barely a few weeks old, yet legislators are already talking about a fourth major piece of legislation to address the health and economic implications of COVID-19. The details of previous bills evolved as the rapid-pace negotiations progressed. Subsequent legislation is likely to take a similar path. This article suggests that a fourth bill is likely to be similar to the third, with primary components consisting of: expanded unemployment insurance, hazard pay for essential workers, expanded health care access, and additional direct payments to Americans.</p>


Retirement Roundup: Colorado Faces Years of Budget Cuts


<p><em>A digest of news from publications around the nation about finance, investing, and retirement.</em></p>



<p><a href="https://www.copera.org/retirement-roundup-monitoring-finances-amid-covid-19" target="_blank" rel="noreferrer noopener" label=" (opens in a new tab)">When market drops, play long game with retirement savings</a> | <a href="https://abcnews.go.com/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">ABC News</a></p>



<p>Watching the value investment accounts fall is not fun, regardless of your age. Those with time on their side, however, have some flexibility. You’ve only truly lost money if you sell investments at a loss. But if retirement is far in the future, there’s no need to sell investments today. In fact, if you haven&#8217;t touched those accounts you still hold the same number of shares you did two months ago—it’s just that the value of each share has declined. A time-tested philosophy is to simply wait out the storm. Some might look into rebalancing or taking a look at your diversification levels, but general consensus says don’t make big changes during periods of volatility.</p>



<p><a href="https://www.consumerfinance.gov/about-us/blog/protect-yourself-financially-from-impact-of-coronavirus/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Protect yourself financially from the impact of the coronavirus</a> | <a href="https://www.consumerfinance.gov" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Consumer Financial Protection Bureau</a></p>



<p>The worldwide crisis resulting from COVID-19 is filled with unknowns. But losing an income, being unable to pay bills, or facing a sudden need for health care can turn these hazy question marks into a reality with issues that are crystal clear, even if the answers seem just as illusive. If the financial implications of the COVID-19 crisis begin to affect your finances, know what tools you have available and what steps you should take.</p>



<p><a href="https://www.cpr.org/2020/03/14/legislature-takes-historic-pause-amid-coronavirus-concerns/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Legislature Takes Historic Pause Amid Coronavirus Concerns</a> | <a href="https://www.cpr.org" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">CPR</a></p>



<p>For the first time in state history, the Colorado Legislature has paused the legislative session. For at least two weeks, no bill will move forward. As they venture into uncharted territory, House and Senate leaders aren’t even sure about whether the constitutionally-mandated 120-day session length should include the duration of this legislative pause. They have submitted the question to the Colorado Supreme Court. Whenever they do reassemble, one thing is all but certain: Everything will be different. Priorities have changed, the budget will need to be altered due to the expected downturn in the economy, and time might be short.</p>



<p><a href="https://finance.yahoo.com/news/retired-nearly-weather-market-downturn-201711514.html" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Retired or nearly there? How to weather a market downturn</a> | <a href="https://finance.yahoo.com/" target="_blank" rel="noreferrer noopener" aria-label="Yahoo Finance (opens in a new tab)">Yahoo Finance</a></p>



<p>Those in retirement or nearing retirement during market downturns have a different set of financial concerns than those who won’t be withdrawing from those accounts for years. Cutting back on spending, if you’re able, is one way to give your nest egg some breathing room. If nothing else, downturns remind us all about the importance of diversification and having a plan that takes into account the risk of downturns. </p>


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