Time to Buy! Buy! Buy! (Service Credit)

Many pension plans allow members to purchase service credit. This may be counterintuitive for some folks, but many plans allow you to "buy" years where you didn't work under the pension system and then treat those years as if you had. This typically both increases your ultimate pension benefit and often can allow you to … Continue reading Time to Buy! Buy! Buy! (Service Credit)

Medicare and PERACare Premium Changes for 2022

One of the most important spending factors to take into account when planning for retirement is the cost of healthcare, including the cost of health insurance. Most people are generally aware that their employer picks up a large portion of their health insurance premium costs, but it's not until you stop working and that goes … Continue reading Medicare and PERACare Premium Changes for 2022

PERAPlus 401k/457/DC: New Recordkeeper, Same Fees (almost)

On December 3, 2021, the recordkeeper for PERA's 401k, 457 and DC plans will change from Voya to Empower. This is a result of a request for proposals and PERA staff and the Board looking at the submissions. Your investing choices will remain the same, you'll simply login to Empower's website which should hopefully provide … Continue reading PERAPlus 401k/457/DC: New Recordkeeper, Same Fees (almost)

Colorado PERA Retirement Options 1, 2 and 3

Most Colorado educators are generally aware of the formula that calculates their PERA pension benefit: Years of Service Credit x 2.5% x Highest Average Salary (HAS) They also are generally aware of which HAS Table they use so they know when they qualify for a "full" retirement (non-green-shaded areas of your HAS Table). If you … Continue reading Colorado PERA Retirement Options 1, 2 and 3

Health Insurance: PERACare vs. the ACA Marketplace

First, a caveat. Health care - and health insurance - are complicated and nuanced topics that are heavily influenced by individual circumstances and options. The following post should be generally applicable for folks who are in a similar situation as we are, but you should always investigate the particulars for your situation carefully. This post … Continue reading Health Insurance: PERACare vs. the ACA Marketplace