Retirement insights from a Colorado PERA perspective

News You Should Know

News You Should Know: IRS Won’t Tax Colorado TABOR Refunds

A 1040 individual tax return form on top of a pile of U.S. $100 bills.
Photo credit: MasterSergeant/Getty Images

IRS Won’t Tax Most Relief Payments Made by Colorado, Other States Last Year | The Colorado Sun

Colorado residents who are getting ready to file their tax returns will not have to report last year’s $750 Taxpayer’s Bill of Rights refund checks as income. The IRS announced that taxpayers in Colorado and a slew of other states will not owe federal tax on payments from the state that were related to general welfare and disaster.

Millions Could Lose Medicaid by April as Pandemic Rules Ease | U.S. News

Pandemic-related rules that allowed millions of people to sign up for Medicaid coverage are expiring, meaning many people could lose that health coverage. Loss of Medicaid coverage is a qualifying event to enroll in individual coverage through Connect For Health Colorado or, or for PERA retirees to enroll in a PERACare plan.

Fed Raises Rates By Quarter Point, Signals More Increase Likely | Bankrate

The Federal Reserve continues to raise its key interest rate in an effort to rein in inflation. The most recent increase amounts to a quarter of a percentage point, which is smaller than other recent rate hikes. While more rate hikes could happen this year, they’re likely to be less aggressive as inflation shows signs of cooling down.

Age of AI: ChatGPT, Bard and How Money Advice Might Evolve | NerdWallet

The field of artificial intelligence (AI) is rapidly advancing, with big implications for many industries, including finance. In this article, a financial planner discusses some of the shortcomings of current AI offerings and what the future might hold for AI-generated financial advice.

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

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