
<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://coloradosun.com/2025/03/17/colorado-budget-shortfall-recession-risk-march-forecast/" target="_blank" rel="noreferrer noopener"><strong>Recession Risk Grows, Adding Uncertainty to Colorado Budget Crunch | The Colorado Sun</strong></a></h4>



<p>There’s still a lot of uncertainty as the deadline approaches for the Legislature to release its budget plan for the next fiscal year. State economists say that while Colorado’s economy is growing, unemployment is rising and spending and economic growth are slowing. At the same time, lawmakers are trying to find ways to cut over $1 billion from the state budget.</p>



<h4 class="wp-block-heading"><a href="https://www.cnbc.com/2025/03/15/investment-fraud-how-to-protect-yourself.html" target="_blank" rel="noreferrer noopener"><strong>Americans Lost $5.7 Billion to Investment Scams in 2024, FTC Says. Here’s How to Protect Yourself | CNBC</strong></a></h4>



<p>Investment scams are on the rise—the latest data from the Federal Trade Commission show Americans lost $5.7 billion to investment scams in 2024, up 24% from the year before. Officials say scamming operations have become more sophisticated, and criminals stole an average of more than $9,000 from victims last year. Here are some tips for spotting and avoiding potential scams.</p>



<h4 class="wp-block-heading"><a href="https://www.cnet.com/personal-finance/taxes/the-irs-has-issued-a-whopping-145-billion-in-tax-refunds-so-far/" target="_blank" rel="noreferrer noopener"><strong>The IRS Has Issued a Whopping $145 Billion in Tax Refunds so Far | CNET</strong></a></h4>



<p>Tax season is well underway, and the Internal Revenue Service (IRS) reports its tax return processing is mostly on par with last year, so far. The IRS says it has processed more than 60 million returns since tax season began and issued more than 43 million refunds, with an average refund of more than $3,300.</p>



<h4 class="wp-block-heading"><a href="https://www.npr.org/2025/03/04/g-s1-51748/trump-crypto-reserve-bitcoin-stockpile-ether" target="_blank" rel="noreferrer noopener"><strong>What to Know About Trump&#8217;s &#8216;Crypto Strategic Reserve&#8217; Plan | NPR</strong></a></h4>



<p>President Donald Trump announced his intent to create a strategic reserve of cryptocurrency similar to the U.S. stockpile of gold. While there are still many questions about how a cryptocurrency reserve might work, the U.S. government already holds billions of dollars in bitcoin seized from criminal cases.</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: Latest Forecasts Add Uncertainty to State Budget


<h4 class="wp-block-heading"><a href="https://www.nerdwallet.com/article/finance/why-financial-criminals-target-older-adults-and-how-to-protect-yourself" target="_blank" rel="noreferrer noopener"><strong>Why Finance Cons Target Older Adults, and How to Protect Yourself | NerdWallet</strong></a></h4>



<p>Fraudsters have been increasing their efforts to scam older Americans out of their money in recent years. The latest data from the FBI show losses of $3.4 billion last year from scams targeting people who are 60 and older, an 11% increase from the previous year. Here are some tips for spotting and avoiding some common scam techniques.</p>



<h4 class="wp-block-heading"><a href="https://coloradosun.com/2024/05/25/colorado-retirement-law-secure-savings-401k/" target="_blank" rel="noreferrer noopener"><strong>How 55,000 Coloradans Are Saving Up for Retirement | The Colorado Sun</strong></a></h4>



<p>Colorado SecureSavings, the state-facilitated retirement plan for private-sector workers without access to a plan through their employer, has enrolled more than 50,000 workers in its first year. In total, workers have saved more than $50 million, and the program is on track to nearly double its participants by the end of this year.</p>



<h4 class="wp-block-heading"><a href="https://www.cnbc.com/2024/05/22/irs-extends-free-file-tax-program.html" target="_blank" rel="noreferrer noopener"><strong>IRS Free File Tax Program Has Been Extended Through 2029 | CNBC</strong></a></h4>



<p>The IRS is continuing its Free File partnership with tax software companies while it determines the future of its own direct-file program. The Free File program, which allows some taxpayers to file their taxes using third-party software without paying fees, will continue through 2029. As for the agency’s plans for Direct File, which several states piloted this past tax filing season, the IRS expects to announce more soon.</p>



<h4 class="wp-block-heading"><a href="https://www.nextavenue.org/what-401k-creator-thinks-of-retirement-plan-now/" target="_blank" rel="noreferrer noopener"><strong>What the Creator of the 401(k) Thinks of the Retirement Plan Now | Next Avenue</strong></a></h4>



<p>Ted Benna is credited with creating the first 401(k) retirement plan by taking advantage of new legislation in the early 1980s. Today, he says the plans haven’t quite lived up to their potential and he’s on a mission to help lower-income workers save more money for retirement.</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: Scammers Increasingly Targeting Older Adults


<h4 class="wp-block-heading"><a href="https://www.planadviser.com/bipartisan-support-shown-federal-ira-re-introduced-bill/" target="_blank" rel="noreferrer noopener"><strong>Bipartisan Support Shown for Federal IRA in Re-Introduced Bill | PLANADVISER</strong></a></h4>



<p>Lawmakers in Congress are renewing efforts to establish a federal individual retirement account (IRA) program for workers who don’t have a retirement plan at work. The program would be similar to the automatic enrollment programs that multiple states, including Colorado, have launched in recent years.</p>



<h4 class="wp-block-heading"><a href="https://content.copera.org/news-you-should-know-federal-auto-ira-bill-has-bipartisan-support/" target="_blank" rel="noreferrer noopener"><strong>Medicare Will Remove Limits on PET Scans Used With New Alzheimer’s Drugs | The Hill</strong></a></h4>



<p>The Centers for Medicare and Medicaid Services (CMS) said it is removing its limit on covering PET scans that can help diagnose patients with Alzheimer’s disease. The decision will make it easier for Medicare recipients to get prescriptions for the newer Alzheimer’s medications that treat amyloid plaques in the brain.</p>



<h4 class="wp-block-heading"><a href="https://www.nextavenue.org/dont-let-yourself-get-smished/" target="_blank" rel="noreferrer noopener"><strong>Don’t Let Yourself Get Smished | Next Avenue</strong></a></h4>



<p>Scammers are constantly changing their tactics to try to fool people, and “smishing” — or phishing via text message — has become increasingly common. Here are some tips for spotting and avoiding scams from friendly-sounding text messages.</p>



<h4 class="wp-block-heading"><a href="https://www.vox.com/the-highlight/23850582/millennials-aging-parents-boomers-seniors-family-care-taker" target="_blank" rel="noreferrer noopener"><strong>Baby Boomers’ Aging Could be a Caregiver Crisis for Millennials | Vox</strong></a></h4>



<p>Many people in the Baby Boomer generation are beginning to reach the age when they start to require more care. That means younger generations are finding themselves in a “sandwich” situation wherein they are simultaneously taking care of children and aging parents. Experts say it’s an important issue to discuss and plan for as parents get older.</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 Auto-IRA Bill Has Bipartisan Support


<h4 class="wp-block-heading"><a href="https://www.aarp.org/money/scams-fraud/info-2021/new-medicare-robocall.html" target="_blank" rel="noreferrer noopener"><strong>‘Becky From Medicare’ Robocall is Sweeping the Nation</strong></a><strong> | AARP</strong></h4>



<p>Retirees across the country have received fraudulent calls from people claiming to work with Medicare and offering unnecessary genetic testing. AARP put these callers under the microscope and found that while the scam is unlikely to cost Medicare recipients anything directly, such scams can cost Medicare billions of dollars a year.</p>



<h4 class="wp-block-heading"><strong><a href="https://www.fool.com/the-ascent/cryptocurrency/articles/is-it-safe-for-retirees-to-buy-cryptocurrency/" target="_blank" rel="noreferrer noopener" class="broken_link">Is It Safe for Retirees to Buy Cryptocurrency?</a> | The Motley Fool</strong></h4>



<p>Cryptocurrencies like Bitcoin have been growing in popularity in recent years. They’re notoriously volatile, and that can mean the potential for big gains and also big losses. Here are some things retirees should consider when looking at investing in cryptocurrency.</p>



<h4 class="wp-block-heading"><a href="https://techcrunch.com/2021/09/28/amazon-launches-an-elder-care-subscription-service-alexa-together/" target="_blank" rel="noreferrer noopener"><strong>Amazon Launches an Elder Care Subscription Service, ‘Alexa Together’</strong></a><strong> | TechCrunch</strong></h4>



<p>Last year, Amazon launched the Care Hub, which allows family members to keep an eye on aging relatives, with their permission. With a new subscription, Amazon is looking to expand the service with additional features like an emergency help line and the ability to add more caregivers, like a neighbor or additional relatives.</p>



<h4 class="wp-block-heading"><a href="https://www.livestrong.com/article/13768199-fall-prevention-tips/" target="_blank" rel="noreferrer noopener"><strong>Falls are Increasing in Older Adults. Here are 5 Ways to Prevent Them</strong></a><strong> | Livestrong</strong></h4>



<p>Falls are on the rise, and they are the leading cause of injuries in older Americans. Here are some simple steps retirees can take to reduce their risk of falling — from making some updates around the house to staying in shape.</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: Beware of This Medicare Phone Scam


<p>Picture what makes a typical fraud victim. Do you associate a certain age, occupation, socioeconomic status, or other common demographic marker with fraud? If so, you’re not alone. And you would also be mistaken.</p>



<p>Fraud, and in particular identity theft and cybercrime, is on the rise. And it’s affecting everyone.</p>



<ul><li>About 4.8 million people filed identity theft and fraud reports in 2020. That represents a <a href="https://www.iii.org/graph-archive/96074" target="_blank" rel="noreferrer noopener">45-percent jump</a> in just one year.</li><li>Young people (ages 20 to 29) <a href="https://www.ftc.gov/reports/consumer-sentinel-network-data-book-2020" target="_blank" rel="noreferrer noopener">filed 44%</a> of these reports.</li><li>Millions of people have lost money to scams – at least $3.3 billion in 2020. That’s more than twice the amount lost in 2019.</li><li>The median amount lost was greatest for those age 80 and above, <a href="https://www.ftc.gov/reports/consumer-sentinel-network-data-book-2020" target="_blank" rel="noreferrer noopener">at $1,300</a>.</li><li>On a list of states with the most reports of identity thefts per capita, Colorado ranks <a href="https://www.iii.org/table-archive/21319" target="_blank" rel="noreferrer noopener">20<sup>th</sup></a>.</li></ul>



<h4 class="wp-block-heading"><strong>How PERA Helps Prevent Fraud</strong></h4>



<p>A <a href="https://www.iii.org/fact-statistic/facts-statistics-identity-theft-and-cybercrime#:~:text=Identity%20theft%20and%20fraud%20complaints,-The%20Consumer%20Sentinel&amp;text=In%202020%2C%201.4%20million%20complaints,up%20from%20651%2C000%20in%202019.&amp;text=Of%20the%202.2%20million%20fraud,of%20%241.5%20billion%20from%202019." target="_blank" rel="noreferrer noopener">report</a> by the Insurance Information Institute states that criminals are “beginning to focus their attention on different financial accounts, such as loyalty and rewards programs and retirement accounts.”</p>



<p>From time to time, criminals target PERA members and their retirement accounts. PERA employs a number of tools to help thwart these attempts. While much of this work is conducted confidentially at PERA, some of the anti-fraud measures PERA takes are visible to members.</p>



<ul><li>Those who have called PERA customer service know that customer service representatives ask questions to verify the identity of the person on the other line. </li><li>PERA has deployed two-factor authentication for members logging in to their online account. Alongside a strong password, this creates a barrier to anyone trying to access member accounts illegally.</li><li>Scammers can target PERA employers, too. PERA communicates regularly with employer contacts to share information that protects members.</li></ul>



<h4 class="wp-block-heading"><strong>Take Control of Your Information</strong></h4>



<p>In addition to the security defenses PERA employs, individuals can take the following steps to increase their protection:</p>



<ul><li>Use strong passwords. This might seem common sense, but millions of people <a href="https://www.cnn.com/2020/11/19/tech/common-passwords-2020-trnd/index.html" target="_blank" rel="noreferrer noopener">aren’t still following it</a>. Try using a <a href="https://www.copera.org/fighting-frauds-and-scams" target="_blank" rel="noreferrer noopener" class="broken_link">password generator</a> from a trusted source.</li><li>Periodically <a href="https://haveibeenpwned.com/" target="_blank" rel="noreferrer noopener">check</a> to see whether your information has been stolen on other websites. Scammers often use information they find in one scam to commit other, potentially more serious scams elsewhere.</li><li>If you want a trusted friend or family member to have access to your PERA account in the event you are incapacitated, you can. Complete and submit <a href="https://content.copera.org/fighting-frauds-and-scams/" target="_blank" rel="noreferrer noopener">this form</a> at any time. If this document is not on file, PERA representatives are unable to make changes or even share information with anyone, including spouses, other than the member.</li></ul>


Tag Archives:

News You Should Know: Latest Forecasts Add Uncertainty to State Budget

News You Should Know: Scammers Increasingly Targeting Older Adults

News You Should Know: Federal Auto-IRA Bill Has Bipartisan Support

News You Should Know: Beware of This Medicare Phone Scam

Fighting Frauds and Scams

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