The Federal Reserve once again raised its key interest rate as it tries to fight inflation, bringing the rate to its highest point since 2007. Officials say rate hikes appear to be working and inflation is slowing, suggesting the Fed is taking more of a wait-and-see approach on interest rates going forward.
A growing number of states — including Colorado — are now offering government-run IRA-style retirement plans for private-sector workers whose employers don’t offer a 401(k) or other plan. Rather than discouraging uptake of employer-based retirement plans, recent research finds the state-run plans seem to be encouraging more businesses to offer retirement plans of their own.
Medicare has faced scrutiny over its decisions to cover or not cover certain new Alzheimer’s drugs. In a recent hearing before Congress, the administrator of the Centers for Medicare and Medicaid Services said Medicare will cover the new drug Leqembi for eligible patients if it’s granted full approval by the FDA this summer.
The Colorado Sun combed through the 600-plus bills introduced at the Capitol this year to find the ones that will affect — or would have affected — your life. Spoiler: while several different tax credits were deliberated and some passed, HB23-1016 (Temp Tax Credit For Public Service Retirees) did not make it out of the House.
News You Should Know is a digest of news from publications around the nation about finance, investing, and retirement.