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News You Should Know

News You Should Know: Colorado Senator Part of Bipartisan Group Crafting Retirement Legislation

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Photo credit: Becky Wright/Getty Images

Bipartisan Group Crafting Retirement Security Legislation | Pensions & Investments

Senator John Hickenlooper of Colorado is part of a bipartisan group of lawmakers who say they’re forming a working group to write legislation that improves retirement security for Americans. The announcement comes as a major retirement bill, dubbed SECURE Act 2.0, works its way through Congress.

You Can’t Put Money in a Health Savings Account Once You’re on Medicare. A House Bill to Change That Comes With Tradeoffs | CNBC

Under current law, retirees enrolled in Medicare cannot contribute to a health savings account (HSAs). A proposed bill would change that, but it would also alter some of the other rules for HSAs. Those changes could include removing the ability to use an HSA to pay Medicare premiums and eliminating penalty-free withdrawals for people aged 65 and older.

The 10 Most Common Mistakes Retirees Make on Their Taxes | Forbes

One of the challenges of managing finances in retirement is navigating the various tax implications that take effect when you’re no longer working. A retirement planner outlines some of the common mistakes retirees make on their taxes, and how to avoid them.

The Financial Penalty of Losing Your Spouse | AARP

Losing a loved one can be a huge shock, but the loss of a spouse can also have serious financial implications. But advance planning and careful consideration can help alleviate some of the headache of dealing with finances amid heartbreak.

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

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