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 href="https://www.newsweek.com/new-study-challenges-the-most-popular-myth-about-aging-11632735" target="_blank" rel="noreferrer noopener">New Study Challenges the Most Popular Myth About Aging | Newsweek</a>



It’s a commonly held belief that declines in physical and mental abilities are a natural part of aging, but new research is challenging that notion. According to researchers at Yale University, improving with age is common and mindset may have a lot to do with it.



<a href="https://www.cpr.org/2026/03/12/state-budget-medicaid-cuts-caregivers-disability-services/" target="_blank" rel="noreferrer noopener" class="broken_link">Impact of State Budget Cuts Gets Real as Lawmakers Start Trimming Medicaid Programs | CPR News</a>



Medicaid spending is on the chopping block as legislators work to cut hundreds of millions of dollars from the State budget. The Joint Budget Committee is recommending cuts to caregiver hours and some services, since Medicaid is a large and growing portion of the budget. The full legislature will have to approve any cuts to Medicaid or other services.



<a href="https://apnews.com/article/tax-scams-robocalls-protect-fraud-8e41d082dcdfd4648a2082a3464d1871" target="_blank" rel="noreferrer noopener">Tax Scams Are on the Rise. Here’s What to Know. | The Associated Press</a>



The Internal Revenue Service says it’s seen an increase in scam activity this tax season. The scammers often use threatening phone calls, emails, and text messages to trick people into providing personal information. Officials say scammers are also increasingly using artificial intelligence to try to fool their victims.



<a href="https://401kspecialistmag.com/average-retirement-savings-by-state-2026/?amp=1" target="_blank" rel="noreferrer noopener">15 States with Most, 5 States with Least Retirement Savings | 401k Specialist</a>



Colorado is doing better than a lot of other states when it comes to setting aside money for retirement. According to a new ranking from SmartAsset, Colorado tied with California and Ohio for 10th place overall, with median savings of $100,000 in tax-deferred accounts like 401(k)s. The analysis didn’t include defined benefit plans or Social Security benefits.



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

News You Should Know: Study Challenges Beliefs About Healthy Aging

<a href="https://www.investopedia.com/find-out-if-you-qualify-for-the-new-senior-tax-break-11858237" class="broken_link">Find Out If You Qualify for the New Senior Tax Break | Investopedia</a>



The federal tax and spending bill known as the One Big Beautiful Bill Act introduced a new deduction for taxpayers who are 65 or older. The new $6,000 deduction applies to tax years 2025 through 2028 and phases out for higher earners.



<a href="https://coloradosun.com/2025/11/25/gov-polis-pera-pension-budget-cuts-2026-2027/">Polis Proposes Cuts to Colorado PERA Payments | The Colorado Sun</a>



As part of his proposal to balance the State budget for the next fiscal year, Governor Jared Polis is recommending a temporary 1% reduction in PERA contributions for employers in the State Division. The General Assembly will be responsible for passing a final budget when the 2026 legislative session gets underway in January.



<a href="https://www.cbsnews.com/news/medicare-drug-prices-15-medications-trump-biden-savings/">Medicare Negotiates Lower Prices on 15 Popular Medications. Will It Save You Money? | CBS News</a>



The federal government has added 15 more prescription medications to its list of drugs that Medicare enrollees will pay lower prices for. The new list includes popular diabetes/weight loss drugs Ozempic and Wegovy, as well as other widely used medications for a variety of conditions. The new, lower prices go into effect in 2027.



<a href="https://www.cnbc.com/2025/11/18/new-social-security-scam.html">New Social Security Scam Uses ‘High Pressure’ Scare Tactics. What To Watch For. | CNBC</a>



Officials are warning about a new scam that aims to pressure unsuspecting victims into providing personal information or money. The scammers have been sending official-looking emails claiming a person’s Social Security number is associated with fraud and warning the individual could face criminal charges.



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

News You Should Know: Who Qualifies for the New Senior Tax Deduction?

<h2 style="color:#000000;" class="wp-block-heading has-black-color has-text-color has-medium-font-size"><a href="https://coloradosun.com/2025/03/17/colorado-budget-shortfall-recession-risk-march-forecast/" target="_blank" rel="noreferrer noopener">Recession Risk Grows, Adding Uncertainty to Colorado Budget Crunch | The Colorado Sun</a></h2>



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.



<h2 style="color:#000000;" class="wp-block-heading has-black-color has-text-color has-medium-font-size"><a href="https://www.cnbc.com/2025/03/15/investment-fraud-how-to-protect-yourself.html" target="_blank" rel="noreferrer noopener">Americans Lost $5.7 Billion to Investment Scams in 2024, FTC Says. Here’s How to Protect Yourself | CNBC</a></h2>



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.



<h2 style="color:#000000;" class="wp-block-heading has-black-color has-text-color has-medium-font-size"><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">The IRS Has Issued a Whopping $145 Billion in Tax Refunds so Far | CNET</a></h2>



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.



<h2 style="color:#000000;" class="wp-block-heading has-black-color has-text-color has-medium-font-size"><a href="https://www.npr.org/2025/03/04/g-s1-51748/trump-crypto-reserve-bitcoin-stockpile-ether" target="_blank" rel="noreferrer noopener">What to Know About Trump&#8217;s &#8216;Crypto Strategic Reserve&#8217; Plan | NPR</a></h2>



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.



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

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

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.



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



<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">20th</a>.</li>
</ul>



<h2 class="wp-block-heading">How PERA Helps Prevent Fraud</h2>



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.”



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.



<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>



<h2 class="wp-block-heading">Take Control of Your Information</h2>



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



<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: Study Challenges Beliefs About Healthy Aging

News You Should Know: Who Qualifies for the New Senior Tax Deduction?

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

Fighting Frauds and Scams

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