Employers Risk Facing Turnover Without Comprehensive Benefits Offerings | PLANSPONSOR
In a new survey, workers overwhelmingly said benefits are a key factor in determining where to work, with 70% of respondents saying they would be willing to switch jobs to gain better benefits. The survey found younger workers value education and training benefits, while 87% of older workers said retirement benefits are a top priority.
DOL Releases Final fiduciary Rule | ThinkAdvisor
The U.S. Department of Labor has released the final version of a new rule that clarifies who is considered a fiduciary when providing investment advice. Experts say the new rule adds protections for consumers, who can be more confident they’re receiving good financial advice that’s in their best interests.
Colorado Wants to Lower Prescription Costs. Why Are Patients Opposed? | The Colorado Sun
Three years ago, Colorado created the Prescription Drug Affordability Board to review drug prices and potentially place limits on how much manufacturers can charge for medications. Drugmakers have pushed back against the board’s authority, and some patient advocates have now joined the opposition out of fear that price caps could lead to manufacturers pulling their life-saving drugs from Colorado pharmacies.
What Do Women Think About Retirement? | National Institute on Retirement Security
There’s long been a gender gap in retirement, with women generally having less money saved due to lower wages and other factors. According to a recent survey of working women, more than 75% of women think retirement is only getting harder, and 82% say every worker should have access to a pension for retirement security.
News You Should Know is a digest of news from publications around the nation about finance, investing, and retirement.
FiduciaryA person who manages money on someone else’s behalf and who has a sworn responsibility to manage those funds in the best interest of the client. FiduciaryA person who manages money on someone else’s behalf and who has a sworn responsibility to manage those funds in the best interest of the client.
A Big “DUH!”
I appreciate PERA Board & Staff (PERA B.S.) may just be trying to maintain a website with some interesting stories, but given how rampant inflation is and hurts those on fixed incomes, then headlines other than the obvious (which insult retirees) might be better received.
In PERA B.S.’s defense, if it wasn’t for “PERA On The Issues,” and the “Leave a Reply” feature, then there wouldn’t be a venue for comments by member readers, which seems the sole forum for what really concerns beneficiaries. Albeit there are many off-topic and just strange comments, but not in greater portion than the irrelevancy of the stories posted.
Seriously, is it news (anyone can use) that: “Majority of Workers Say Benefits Influence Job Choices.” (?)
A more meaningful story or study might be how many entered (and/or stayed working in) public service based in part on the retirement benefits offered. Not only is that the real story; but it’s also what PERA B.S. should first and foremost concern themselves; and which PERA members should be relentlessly contacting their elected statehouse representatives about.
A FAIR & TRUE COLA NOW !!!
I have not kept up with PERA information. I retired in 2001 and then moved overseas for the better part of two decades. Before I left, PERA was increasing nicely, so I didn’t pay much attention to the returns. However, I recently looked at my returns and realized that after March 2019 my net pension amount dropped $319 a month! Can anyone explain this to me? When I try to call PERA, wait times are several hours, and there’s no call-back option.
Another issue, I lost a lot of social security money because of PERA’s deal with the federal government. I suspect that the private insurance companies lobbied their state reps to do this so that the industry could better compete with PERA. If this is so, is there a knowledgeable recipient of PERA benefits that would know if there is a possibility of a class action suit?
Hi Barry,
Sorry to hear you’ve had trouble getting in touch with us. In addition to calling, you can reach our Customer Service team by email at questions@copera.org or by logging into your member account at copera.org and sending a secure message. Our team will be happy to take a look at your account and answer any questions you have.
Regarding the reduction in your Social Security benefit, that is entirely a federal issue and Colorado PERA does not have a relationship with the Social Security Administration. We do monitor efforts in Congress to change the law and we wrote about the most recent bills here: https://peraontheissues.com/an-update-on-2023-wep-gpo-legislation/