Retirement insights from a Colorado PERA perspective

News You Should Know

News You Should Know: Stimulus Bill Details

Federal legislation

American Rescue Plan Act of 2021 | NCSL

The National Conference of State Legislatures has created a full breakdown of what’s in The American Rescue Act. Search to see where dollars are allocated by sectors, like education, small businesses, and state and local government. In case you were wondering, the overview states: “State and local governments cannot use the funds towards pensions or to offset revenue resulting from a tax cut enacted since March 3, 2021.”

Health insurance costs for millions set to drop under final Covid-relief bill | CNBC

The American Rescue Act does more than send Americans stimulus checks. In addition, it contains provisions that will make health insurance cheaper for some, especially those who are unemployed. Among the changes: capping the maximum price an individual pays for health care coverage on federal and state exchanges to 8.5% of their income.

Colorado lawmakers, governor unveil $700M state economic stimulus plan. Here’s where the money will go. | The Colorado Sun

Colorado is working on stimulus measures of its own—paid for with better-than-expected tax revenues. Instead of one big bill, however, each provision will require its own bill. See the ideas proposed so far in this article.

Pandemic Lessons: The Importance of the Savings Hierarchy | Plan Adviser

Not all savings are created equally. For example, there are benefits to saving in a health savings account, but if your refrigerator breaks it would also benefit you to have enough cash saved in a savings or checking account. This article surveys not just how much people save, but where they stash it.


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

Comments

  1. Eleanor Carrillo says:

    Are we retirees getting a raise this July?

  2. Eleanor Carrillo says:

    Are we retirees getting a raise in July

  3. Gayle Duncan says:

    Please cite the specific section of the American Rescue Plan Act (rather than quoting the overview) that excludes State pension plans from receiving funds

  4. Chuck says:

    Where’s our “refund”? As PERA members (currently working AND retired drawing pension), we gave up benefits, took delayed/reduced pension, etc. to get our plan on stable, solid financial footing. Now, we are paying, under this COVID-19 “relief” program, billion and billions to pension programs that refused to knuckle diwn and accept the painful, daunting task of solving their severely underfunded pension programs!! Where’s our refund and return to what we had before we had to accept reduced benefits and/or increased contributions to achieve what others “get fir free”!!

  5. Lonnie says:

    Why isnt the money Mr. Polis stole from the pera account not being put back in. with the stimulis money? and is that money being stolen again this year?

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