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Initiative 195 has made the Colorado ballot for November. If it passes, this would change Colorado's state income tax from its current flat 4.4% to a graduated income tax (similar to how federal taxes work). Proposed Colorado State Income Tax Brackets As a result of these changes, it's estimated to raise Colorado revenues by about … Continue reading Colorado Initiative 195: State Graduated Income Tax
Someone reminded me the other day about Colorado Promise and I realized I'd never written about it. Most Coloradans are (hopefully) aware of the College Opportunity Fund, which pays a stipend for Colorado residents to attend in-state public universities (and some in-state private universities). They are also (hopefully) aware of Colorado's College Invest 529 plan, … Continue reading Colorado Promise Tuition Assistance
Someone reminded me today about Colorado's Senior Property Tax Exemption. While Colorado property taxes are actually relatively low, that doesn't mean they are $0, so this is worth checking out. We are not 65 so haven't been able to use it yet, but I realized that I had never written about it for those who … Continue reading Colorado’s Senior Property Tax Exemption
Last year I suggested PERA-related legislation that eventually turned into HB26-1026 and became law. I am now reaching out to my Colorado representative and the other two co-sponsors of that bill with a new PERA-related proposal. Here is the email I sent to those legislators. If you think this is a good idea, please consider … Continue reading New Proposal for Colorado Legislation: PERA 457b Auto-Enroll and Auto-Escalate
I've written previously about Colorado HB26-1026 and am happy to share that the legislature passed it and the Governor has now signed it. This bill has three provisions. New Option for Purchasing PERA Service Credit: PERA members have previously been able purchase up to 5 years of nonqualified service credit, but they had to have … Continue reading Great News! Colorado HB26-1026: Expanding Plan Options for PERA is Signed Into Law
I learned something new this week about how PERA calculates service credit in the School and DPS Divisions. I knew the basics (and the basics are what applies to most people). I knew: To earn a month of service credit, the member must earn at least 80 times the current federal minimum wage in the … Continue reading How Colorado PERA “Front-Loads” Service Credit in the School and DPS Divisions