
<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.cbsnews.com/news/when-will-i-get-my-2025-tax-refund/" target="_blank" rel="noreferrer noopener"><strong>Will the Expected IRS Staff Cuts Delay my 2025 Tax Refund? | CBS News</strong></a></h4>



<p>The federal government’s downsizing efforts have extended to the Internal Revenue Service, where thousands of positions are expected to be cut in the middle of the busy tax season. While most taxpayers likely won’t encounter any trouble with their returns, there may be delays for anyone who needs to reach out to the IRS for customer service.</p>



<h4 class="wp-block-heading"><a href="https://www.forbes.com/sites/dandoonan/2025/03/03/the-unsung-economic-engine-retiree-pension-spending/" target="_blank" rel="noreferrer noopener"><strong>The Unsung Economic Engine: Retiree Pension Spending | Forbes</strong></a></h4>



<p>An annual analysis from the National Institute on Retirement Security highlights the significant contributions retirees make to local and national economies. Their pension spending results in $1.5 trillion in economic output and supports 7.1 million jobs nationwide, according to NIRS. On a more local level, PERA <a href="https://www.copera.org/pera-on-the-issues/measuring-the-impact-of-4-5b-in-annual-retirement-benefits-in-colorado" target="_blank" rel="noreferrer noopener">paid $4.55 billion in benefits</a> to more than 114,000 retirees who lived in Colorado 2023, resulting in $7.1 billion in economic output and supporting more than 28,000 jobs.</p>



<h4 class="wp-block-heading"><a href="https://401kspecialistmag.com/401k-millionaire-ranks-grew-27-in-2024-fidelity/" target="_blank" rel="noreferrer noopener"><strong>401(k) Millionaire Ranks Up 27% in 2024, Says Fidelity | 401k Specialist</strong></a></h4>



<p>Retirement plan recordkeeper Fidelity says its data show a significant increase in the number of people with over a million dollars saved for retirement last year. The company noted a 27% increase in 401(k) “millionaires” over the course of 2024, most of them members of the Baby Boom generation and Generation X. On average, they’ve been saving for 26 years and contribute 17% of their income to their retirement accounts, according to Fidelity.</p>



<h4 class="wp-block-heading"><a href="https://www.mcknightsseniorliving.com/news/more-older-adults-living-disability-free-lives-and-thats-extremely-encouraging-researcher-says/" target="_blank" rel="noreferrer noopener"><strong>More Older Adults Living Disability-Free Lives, and That’s ‘Extremely Encouraging,’ Researcher Says | McKnight&#8217;s Senior Living</strong></a></h4>



<p>We know people tend to live longer than they did generations ago, and new research sheds some light on the quality of that extended lifespan. A recent analysis finds that the percentage of older Americans who say they’re living without a disability has increased in recent years—reaching 65% in 2017.</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: Will IRS Staff Reductions Affect Tax Filing Season?


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



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



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



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



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



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



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



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



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


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


<h4 class="wp-block-heading"><a href="https://www.nextavenue.org/new-congress-new-president-now-what/?utm_source=Next+Avenue+Email+Newsletter&amp;utm_campaign=5d5d6cc4e9-EMAIL_CAMPAIGN_2024_08_09_05_41_COPY_01&amp;utm_medium=email&amp;utm_term=0_-c30ea2364e-166628362&amp;mc_cid=5d5d6cc4e9&amp;mc_eid=d064809590" target="_blank" rel="noreferrer noopener"><strong>New Congress, New President: Now What for Older Americans?</strong></a></h4>



<p>A new Congress and a new presidential administration are underway, bringing with them the potential for a slew of potential policy changes at the federal level. Here’s a look at some of what we can expect on topics such as Social Security and Medicare.</p>



<h4 class="wp-block-heading"><a href="https://www.irs.gov/newsroom/irs-announces-jan-27-start-to-2025-tax-filing-season-agency-continues-historic-improvements-to-expand-enhance-tools-and-filing-options-to-help-taxpayers" target="_blank" rel="noreferrer noopener"><strong>IRS Announces Jan. 27 Start to 2025 Tax Filing Season | Internal Revenue Service</strong></a></h4>



<p>Ready or not, tax season is upon us. The Internal Revenue Service says it will begin accepting tax returns on Monday, Jan. 27. The IRS also announced its Direct File pilot program has been expanded to include more states (though taxpayers in Colorado are not yet eligible to participate). PERA retirees can access tax forms in their <a href="https://secure.copera.org/secure/User/SignIn.jsp">secure member account</a> and paper forms will be mailed at the end of January.</p>



<h4 class="wp-block-heading"><a href="https://www.aarp.org/pri/topics/health/prescription-drugs/prices-top-medicare-part-d-drugs-entering-market/" target="_blank" rel="noreferrer noopener"><strong>Prices for Top Medicare Part D Drugs Have Nearly Doubled Since Entering the Market | AARP</strong></a></h4>



<p>A new analysis by AARP found that prices for the prescription medications that account for the most spending in Medicare Part D have risen by an average of 98 percent since entering the market. Note that PERACare plans protect against drug price increases by offering no deductibles for prescriptions, flat copays, and a cap on out-of-pocket costs.</p>



<h4 class="wp-block-heading"><a href="https://www.kiplinger.com/retirement/more-secure-2-act-retirement-enhancements-kick-in-this-year" target="_blank" rel="noreferrer noopener"><strong>More SECURE 2.0 Retirement Enhancements Kick in This Year | Kiplinger</strong></a></h4>



<p>Congress passed the large package of retirement-related provisions known as the SECURE Act 2.0 several years ago, but many aspects of the bill are still going into effect. This year, changes taking effect include automatic enrollment in 401(k) and 403(b) plans, expanded access for part-time workers, and a retirement savings lost and found.</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 a New Administration, Congress Mean for Older Americans


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



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



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



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



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



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



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



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



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


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


<p>As 2024 comes to a close, we’re taking a look back at the articles that resonated most with <em>PERA On The Issues </em>readers. Here are our most-read articles of the year.</p>



<h4 class="wp-block-heading"><a href="https://www.copera.org/pera-on-the-issues/2024-proposed-legislation-status"><strong>2024 Proposed Legislation Status</strong></a></h4>



<p>Legislation is always a popular topic on <em>PERA On The Issues</em>, and 2024 was no exception—our article tracking PERA-related bills throughout the session was our most-visited page of the year. State lawmakers introduced nine PERA-related bills during the legislative session, ultimately passing six of them, though one was amended to remove the provision related to PERA.</p>



<p>Continue reading to find out what we expect to see in the 2025 legislative session.</p>



<h4 class="wp-block-heading"><a href="https://www.copera.org/pera-on-the-issues/what-to-expect-for-medicare-advantage-in-2025-blog"><strong>What to Expect for Medicare Advantage in 2025</strong></a></h4>



<p>The open enrollment period for PERACare—PERA’s health benefits program—happens every fall for coverage beginning the following January. While premiums for PERACare’s Medicare Advantage plans had been stable for three years, that rate freeze expired and various regulatory changes led to carriers announcing this fall that Medicare Advantage premiums would be higher for plan year 2025.</p>



<h4 class="wp-block-heading"><a href="https://www.copera.org/pera-on-the-issues/updated-tax-brackets-contribution-limits-and-more-to-know-for-2025"><strong>Updated Tax Brackets, Contribution Limits and More to Know for 2025</strong></a></h4>



<p>If you’re already thinking about your tax situation for 2025, you’re not alone. Our roundup of various tax-related inflation adjustments was one of our most-read articles of the year. The article includes details on updated retirement plan contribution limits, HSA/FSA contribution limits, new marginal tax brackets, and more.</p>



<h4 class="wp-block-heading"><a href="https://www.copera.org/pera-on-the-issues/u-s-house-passes-wep-gpo-repeal-bill-heads-to-senate" target="_blank" rel="noreferrer noopener"><strong>U.S. House Passes WEP/GPO Bill, Heads to Senate</strong></a></h4>



<p>We frequently hear from PERA members who are frustrated with the way the Windfall Elimination Provision (WEP) and/or Government Pension Offset (GPO) reduce their Social Security benefit, so it was no surprise to see a high level of interest in the topic again this year.</p>



<p>Lawmakers have been introducing bills to modify or repeal WEP and/or GPO for years, and in 2024 the House of Representatives brought one such bill, the Social Security Fairness Act, up for a vote and passed it. With the bill awaiting action in the Senate, PERA and the Fire &amp; Police Pension Association of Colorado teamed up to <a href="https://content.copera.org/wp-content/uploads/2024/12/COPERA-and-FPPA_Please-Support-Repeal-of-Provisions-in-Social-Security-WEP-and-GPO_12.13.24.pdf">send a letter to Colorado’s senators</a> encouraging them to support the bill. The bill has since passed the Senate and is awaiting President Biden&#8217;s signature.</p>



<h4 class="wp-block-heading"><a href="https://www.copera.org/pera-on-the-issues/state-lawmakers-pursuing-two-pera-related-bills-in-2025" target="_blank" rel="noreferrer noopener"><strong>State Lawmakers Pursuing Two PERA-Related Bills in 2025</strong></a></h4>



<p>Back here in Colorado, state lawmakers are getting ready for the start of another legislative session in January. We expect to see some PERA-related legislation introduced in the new session, including two bills that lawmakers on the Pension Review Commission drafted during this year’s interim period between sessions.</p>



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<p>We want to thank everyone who subscribes and reads <em>PERA On The Issues</em>. We appreciate your readership and we look forward to helping you stay informed in the new year.</p>



<p>Make sure you’re <a href="https://www.copera.org/pera-on-the-issues/subscribe">subscribed to our biweekly newsletter</a> to stay up-to-date on all the latest news, and join the conversation on <a href="https://www.facebook.com/ColoradoPERA/" class="broken_link">Facebook</a> and <a href="https://www.linkedin.com/company/colorado-pera">LinkedIn</a>.</p>


Year in Review: Our Top Articles of 2024


<p>The new year is mere weeks away. To make sure taxpayers are informed and prepared, the IRS announced inflation adjustments for many tax provisions in 2025, including marginal tax brackets and retirement account contributions.</p>



<h4 class="wp-block-heading"><strong>Retirement plan contribution limits</strong></h4>



<p>The IRS announced higher contribution limits for 401(k), 403(b) and 457 plans next year.</p>



<p>The maximum amount a worker can contribute to those plans is $23,500 in tax year 2025, an increase of $500. The catch-up contribution limit for most plan participants age 50 and older remains unchanged at $7,500.</p>



<p>Beginning in 2025, some older workers can make additional catch-up contributions. As part of the SECURE 2.0 Act, plan participants who are between the ages of 60 and 63 can make catch-up contributions totaling up to $11,250 in tax year 2025.</p>



<p><a href="https://www.copera.org/retirees/peraplus-401-k-457-plans" target="_blank" rel="noreferrer noopener">Learn more about PERAPlus 401(k)/457 Plans</a></p>



<h4 class="wp-block-heading"><strong>HSA/FSA contribution limits</strong></h4>



<p>The amount of money workers can contribute to medical savings accounts also will increase in 2025.</p>



<ul>
<li><strong>HSA:</strong> Individuals enrolled in a high deductible health plan (HDHP) with a health savings account (HSA) will be able to contribute up to $4,300, and those with family coverage will be able to save a maximum of $8,550.</li>



<li><strong>FSA:</strong> For workers who don’t have an HDHP with an HSA and instead use a flexible spending account (FSA), the maximum contribution for 2025 is $3,300. For plans that allow unused balances to roll over, the maximum amount that can be rolled over will increase to $660.</li>
</ul>



<h4 class="wp-block-heading"><strong>2025 tax rates</strong></h4>



<p>Below are updated marginal tax rates for single taxpayers and married couples filing jointly. Visit <a href="https://www.irs.gov/newsroom/irs-releases-tax-inflation-adjustments-for-tax-year-2025">the IRS website</a> for more tax tables and additional details.</p>



<p>Note that since these changes are for tax year 2025, they will generally apply to tax returns filed in 2026; <a href="https://www.copera.org/pera-on-the-issues/updated-tax-brackets-contribution-limits-other-changes-for-2024">2024 tax rates</a> will apply to returns filed in 2025.</p>



<ul>
<li><strong>37%</strong> for incomes over $626,350 ($751,600 for married couples filing jointly)</li>



<li><strong>35%</strong> for incomes over $250,525 ($501,050 for married couples filing jointly)</li>



<li><strong>32%</strong> for incomes over $197,300 ($394,600 for married couples filing jointly)</li>



<li><strong>24%</strong> for incomes over $103,350 ($206,700 for married couples filing jointly)</li>



<li><strong>22%</strong> for incomes over $48,475 ($96,950 for married couples filing jointly)</li>



<li><strong>12%</strong> for incomes over $11,925 ($23,850 for married couples filing jointly)</li>



<li><strong>10%</strong> for incomes $11,925 or less ($23,850 or less for married couples filing jointly)</li>
</ul>



<h4 class="wp-block-heading"><strong>Standard deduction</strong></h4>



<p>In addition to updated tax rates, the IRS announced increases to the standard deduction for tax year 2025:</p>



<ul>
<li><strong>Single taxpayers and married couples filing separately</strong>: $15,000 ($400 increase)</li>



<li><strong>Heads of household:</strong> $22,500 ($600 increase)</li>



<li><strong>Married couples filing jointly:</strong> $30,000 ($800 increase)</li>
</ul>



<p></p>



<p>Taxpayers who are 65 or older can take an additional standard deduction, which is also adjusted for inflation. For tax year 2025, that amount is $2,000 for single filers and $1,600 for others.</p>



<p>Visit <a href="https://www.irs.gov/newsroom/irs-releases-tax-inflation-adjustments-for-tax-year-2025" target="_blank" rel="noreferrer noopener">the IRS website</a> for more adjustments to tax provisions in 2025.</p>



<h4 class="wp-block-heading"><strong>PERA benefits and taxes</strong></h4>



<p>Colorado PERA benefits are subject to federal income tax, as well as applicable state and local taxes. PERA retirees who would like to update their tax withholding can do so by&nbsp;<a href="https://www.copera.org/member-login-registration" target="_blank" rel="noreferrer noopener">logging in</a>&nbsp;to their secure member account or completing a paper Form W-4P.</p>



<p>Retirees and benefit recipients can expect to receive their 1099-R tax forms for tax year 2024 in January 2025.</p>



<p>Learn more at&nbsp;<a href="https://www.copera.org/taxes-on-benefits" target="_blank" rel="noreferrer noopener">copera.org/taxes-on-benefits</a>.</p>


Updated Tax Brackets, Contribution Limits and More to Know for 2025


<h4 class="wp-block-heading"><a href="https://www.irs.gov/newsroom/irs-releases-tax-inflation-adjustments-for-tax-year-2025" target="_blank" rel="noreferrer noopener"><strong>IRS Releases Tax Inflation Adjustments for Tax Year 2025 | Internal Revenue Service</strong></a></h4>



<p>The new year is just two months away, and the Internal Revenue Service has announced some important tax-related updates. For tax year 2025, the IRS is making adjustments to various tax provisions based on inflation, including the standard deduction, marginal tax rates, earned income tax credits, and more.</p>



<h4 class="wp-block-heading"><a href="https://qz.com/medicare-2-drug-list-medicaid-1851668732" target="_blank" rel="noreferrer noopener"><strong>Medicare Wants to Make These Generic Drugs Available for Just $2 | Quartz</strong></a></h4>



<p>The Centers for Medicare and Medicaid Services released a list of dozens of prescription medications that may be included in a pilot program to provide low-cost generic versions of drugs. The drugs—which include popular medications such as inhalers, antibiotics, blood thinners, and cholesterol pills—would be available for $2 beginning in 2027.</p>



<h4 class="wp-block-heading"><a href="https://www.uchealth.org/today/new-blood-tests-for-alzheimers-may-allow-for-earlier-detection/" target="_blank" rel="noreferrer noopener"><strong>New Blood Tests for Alzheimer’s May Allow for Earlier Detection | UCHealth Today</strong></a></h4>



<p>Multiple companies have been rolling out new blood tests to help screen for Alzheimer’s disease, aiming to someday replace expensive and invasive procedures like spinal taps and imaging scans. Experts at UCHealth say that while the new tests are promising, there’s still more research that needs to be done before they can be made widely available, and the tests are not yet FDA-approved or covered by insurance or Medicare.</p>



<h4 class="wp-block-heading"><a href="https://www.kiplinger.com/retirement/how-to-step-confidently-into-your-life-after-retirement" target="_blank" rel="noreferrer noopener"><strong>How to Step Confidently Into Your Life After Retirement | Kiplinger</strong></a></h4>



<p>Retiring is a major life change that goes beyond a change in employment status, and that move often involves a shift in identity. Here are some tips for handling the transition and embracing a new phase of life.</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: IRS Releases Tax Adjustments for 2025


<h4 class="wp-block-heading"><strong><a href="https://civicscience.com/retirement-redefined-how-the-pandemic-and-economic-factors-are-shaping-retirement-plans-among-older-americans/" target="_blank" rel="noreferrer noopener">Retirement Redefined: How the Pandemic and Economic Factors Are Shaping Retirement Plans Among Older Americans | CivicScience</a></strong></h4>



<p>More than four years after the start of the COVID-19 pandemic, we’re still seeing some of the effects of the public health crisis and new data attempt to shed some light on how the pandemic affected retirement planning. Survey data from CivicScience found most adults at or near retirement age said they did not leave the workforce during the pandemic, but older workers (65+) were more likely to say they left work and didn’t return. Of those who left the workforce and returned, more than half expect to work past the age of 65.</p>



<h4 class="wp-block-heading"><a href="https://www.investopedia.com/people-want-congress-to-fix-social-security-s-shortfall-8722073" target="_blank" rel="noreferrer noopener"><strong>Most Americans Want Congress To Fix Social Security and Medicare Shortfalls ASAP | Investopedia</strong></a></h4>



<p>In a recent survey, respondents made it clear that shoring up Social Security and Medicare are top priorities for ensuring retirement security. The survey from the Transamerica Institute for Retirement Studies found over 60 percent of people think the government needs to prioritize filling Social Security’s funding shortfall and over 50 percent think Medicare’s funding should be a priority.</p>



<h4 class="wp-block-heading"><a href="https://www.kiplinger.com/investing/farewell-paper-i-bonds-savings-bonds-going-online-only" target="_blank" rel="noreferrer noopener"><strong>Farewell Paper I-Bonds: Savings Bonds Are Going Online Only | Kiplinger</strong></a></h4>



<p>The last remaining paper savings bond is about to go all digital. The U.S. Treasury announced taxpayers will no longer be able to buy paper Series I bonds with their tax returns starting January 1, 2025. Electronic versions of I and EE bonds have been available for purchase online through TreasuryDirect for about two decades, and banks stopped selling paper savings bonds in 2012.</p>



<h4 class="wp-block-heading"><strong><a href="https://www.thetravel.com/beautiful-towns-in-colorado-that-are-great-for-retirement/" target="_blank" rel="noreferrer noopener">Beautiful Towns In Colorado That Are Great For Retirement | The Travel</a></strong></h4>



<p>While many people like to stay put in retirement and age at home, many others like to pack up in search of a change in scenery or a better way of life. This list aims to identify the best towns in Colorado for retirees with a focus on crime and cost of living.</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: How the Pandemic Affected Retirement Planning


<h4 class="wp-block-heading"><a href="https://spanberger.house.gov/posts/spanberger-graves-file-discharge-petition-for-social-security-fairness-act-push-to-force-u-s-house-vote-on-bipartisan-bill-to-eliminate-wep-gpo" target="_blank" rel="noreferrer noopener" class="broken_link"><strong>Spanberger, Graves File Discharge Petition for Social Security Fairness Act, Push to Force U.S. House Vote on Bipartisan Bill to Eliminate WEP &amp; GPO | Rep. Abigail Spanberger</strong></a></h4>



<p>Congress is back from recess, and the two main sponsors of a bill that would repeal the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) say they’re going to attempt to force a floor vote on the bill. Representatives Abigail Spanberger (D-VA) and Garret Graves (R-LA) filed a discharge petition, which will need 218 signatures to force a vote. The bill, The Social Security Fairness Act, has received the support of more than 300 members of Congress but has stalled since it was introduced in early 2023.</p>



<h4 class="wp-block-heading"><a href="https://www.kiplinger.com/retirement/employee-retirement-income-security-act-erisa-turns-50" target="_blank" rel="noreferrer noopener"><strong>Employee Retirement Income Security Act Turns 50: Protecting Your Plans | Kiplinger</strong></a></h4>



<p>It’s been 50 years since the Employee Retirement Income Security Act of 1974 (ERISA) was enacted into law, adding new protections for workers and changing the way many people save for retirement. While ERISA doesn’t govern public pension plans like Colorado PERA, it’s been a consequential piece of legislation in the private sector and paved the way for today’s employer-based retirement plans like 401(k)s.</p>



<h4 class="wp-block-heading"><a href="https://chhs.source.colostate.edu/new-drug-may-improve-memory-in-older-adults-treat-alzheimers/" target="_blank" rel="noreferrer noopener"><strong>New Drug May Improve Memory in Older Adults, Treat Alzheimer’s | Colorado State University</strong></a></h4>



<p>Researchers at Colorado State University say they’ve been testing a drug that shows promise in treating memory loss associated with aging and neurological conditions like Alzheimer&#8217;s disease. The researchers teamed up with a local biotech company to test the drug, which targets two specific proteins in the brain. The team hopes to get approval for human trials soon.</p>



<h4 class="wp-block-heading"><a href="https://coloradosun.com/2024/09/10/colorado-taxes-pilot-program/" target="_blank" rel="noreferrer noopener"><strong>Colorado Department of Revenue to Help 100,000 Residents File Their Taxes | The Colorado Sun</strong></a></h4>



<p>State officials are working to implement a new law that will help many Coloradans claim tax credits they may know they qualify for. Under the law, the Colorado Department of Revenue will help up to 100,000 households file or amend their tax returns to claim state and/or federal earned income tax credits and child tax credits, which could help many lower income families in the state.</p>



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


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