jill schlesinger on what some states are doing to help in tonight's "eye on money." >> reporter: 18 months ago, marc hoffman opened his first business, strong start, a child learning center in trurn bull, connecticut. >> close your mouth and chew! >> reporter: he does not offer a retirement plan for his 32 employees. while hoffma w staff save, he simply doesn't have the time or the expertise. >> there are so many thengz to do that those type of benefits are not first and foremost the number one priority with a new business. >> reporter: more than 600,000 connecticut workers do not have access to workplace retirement plans, like a 401(k), or an ira. state controller kevin lembo. >> these are folks who are going turn back to their state or federal government for some level of assistance when and if they run out of money. >> reporter: connecticut and seven other state have recently passed legislation to help private sector workers get a retirement plan. starting in 2018, connecticut businesses with more than five employees that don't already offer a retirement plan will be required to partici

jill schlesinger. thanks. 5-- president obama visiting california... and his appearance on jimmy kimmel is creating a lot of chatter this morning. more on his mic drop... next. ,,,,,,,,,, ,, because she doesn't know that it kills 40,000 californians... every year. because she doesn't understand what cancer is. because she can't spell emphysema. because she is a butterfly, who fights fires. because she is my daughter, and the surgeon general says that raising tobacco taxes... is a proven way to make sure she never smokes. that's why i'm voting yes on 56. slammed into a big rig near 'palm springs families the 13 >>> investigators are still trying to figure out why a tour bus slammed into a big rig near palm springs. families and friends of the 13 people who died are helping each other cope with the tragedy. 12 passengers and the bus driver were killed sunday after their tour bus crashed into a semi truck while returning from a casino in new york. there was no appearance of using the brakes before the crash. they are wondering whether the driver fell asle

cbs news business analyst jill schlesinger is here to shed light on all the worthwhile perks that theye overlooked. the first question is, jill, what programs are employees missing out on? >> reporter: a lot of companies offer affordable group rate for supplement life, disability and long-term care insurance. this is the case where the buying power of a big group can help you out. you may find coverage that's not even available in the open market especially when it comes to disability and long-term care insurance. both of these are notoriously expensive when you purchase them on your own. the most important thing? you have to determine whether the coverage is portable. that means you can take the policy with you if you leave the company. when it comes to retirement i know you're all getting into the 401(k) plan, but more than half of large employers offer ross 401(k)s but only about 10% of employees are using roth 401(k)s. they are great for those who expect their tax brackets to rise in the future so maybe if you are young this works real well. also, for hiring some employees. those 4

jill schlesinger is here as we talk about which candidate may be better for your retirement account. i don't know if it is coincidence or not, that does the party affect the stock market at all? shows the average annual growth rate 9.7% under democratic presidents. it drops to 6.7% under republicans. before you get excited about that the percent difference, you should know we have fresh academic study that says what to expect when you are electing systematic difference between republicans and democrats when it comes to the direction of the stock market. this is all coincidence. >> if party of insulation does it make -- party affiliation doesn't matter, what does? >> reporter: there is a theory called the presidential election cycle that says regardless of whether a republican or democrat becomes the leader, cycles. they improved in the second here of an election and we can again in the fourth year -- weekend -- weaken again in the fourth year. just like every theory the january effect, there is always exceptions to the rules. the presidential cycle theory didn't work over the past fo

. >>> now here's jill schlesinger. planning awareness week it's time to review the basic how to prepare for the future. one of the most common questions is whether everyone needs a will. the answer is yes. because if you die without a will, which is called intestate your state of residents will determine what happens to your estate and who should raise your kids that. potential alone should product you to get ding with -- going with the process a will a legal document that ensures that your assets are passed to your designated inaccordance with your wishes. name an exector who is a person or institution that oversees the distribution of the assets and if you have minor children you need to name a guardian. after a will there are two more important steps. creating a health care proxy and a durable power of attorney. some may consider the use of trusts especially individuals who have estates in excess of 5.# mill-- 5.4 million and million. it's advice be to get a qualified estate attorney rather than doing it yourself or

. >> cbs4's business analyst jill schlesinger here. what do we need to know? >> reporter: well, you probably just filled out a box and sent in a form six months ago. now you have to clear your weekend because it is time to pay of course sam, by this monday, october 17th. taxes due or penalties. small employers or self- employed people, if you filed for a tax extension, you've got a deadline to establish and fund a simplifyed employee pension plan. that date is also october 17th. this is a great vehicle for small businesses. it allows you to sock away the lesser of 25% of what you earn in compensation or $53,000 a year. i know it's going to be a rotten weekend, but please this done. >> all right, jill, i'm going to jump over the ceo of wells fargo. he gets this big package, while 5,000 people are out of work. what is the talk on wall street about this kind of deal and his exit? >> reporter: this is a fascinating thing, because widespread sentiment among ceo's i have been in touch with over the last few weeks since this scandal broke was, you the wall street fir

cbs news business analyst jill schlesinger is here to tell us how to bring up the topic with family members. so jill, question one is, how should we start that conversation? >> reporter: start by when it's timely. you know, let's think about this. year end. it's a period when we look back, we review how we've done financially. that could be an opportunity to ask your parents about their cd rates or portfolio performance. maybe if you are worried about your adult children, estate attorneys say it's very helpful to focus on an isolated issue, maybe like hey, i want to establish a college fund for the grandkids. or the titling of a bank account or making a beneficiary designation. any one of those smaller issues can lead to broader discussions on family finances and estate planning. you also could offer to review your family members' situation with an impartial professional like an estate attorney or a certified financial planner or a cpa. sometimes those third parties really can breakthrough in a way that you might not be able to. >> all right. so jill, then how can we balance being a respons

. >> jill schlesinger here to tell us how millions of people could save money next year. let's find out. jill, what should people who get medicare know? >> reporter: the only control spending in retirement is the coverage you choose. but less than 15% of people ever change their medicare plans after their initial enrollment. i know that book is a little daunting that you got. but if you have a supplemental plan and in good health you probably want to shop around, because you may can save money by switching to another country. if you have medicare make sure all your doctors are still in the network, understand the deductible and out of pocket limits, as well as the prescription drug choices. here's some good news, average premiums are set to drop by 4% on average to $31.40 a month. again, on average. some more, some less. >> that's great to hear. what about medicare part d drug plan? >> reporter: this is where things get interesting. the coverage just automatically renews. but you can spend a little bit of time, maybe a lot, and switch to a different plan. it could save you

. >> jill schlesinger is here. we have to start these conversations. help us out. how do we do it? >> reporter: first of all, how this week is national estate awareness month. maybe not. okay, year end, it's a great time of year because we're looking back and reviewing how we've done financially. that could be an opportunity to ask your parents about their cd rates or portfolio performance. a lot of attorneys say it's good to focus on an isolated issue, hey, i want to establish grandkids, or may be a beneficiary designation. any of those topics can lead to broader discussions on family finances and estate planning. you can always offer to review with any family member, if you have questions, i'm not an expert, let's get a professional, an estate attorney, cpa. good to bring in a third party. >> i know some of us are thinking of our parents. how can we balance being a responsible adult child without prying? >> reporter: you know what, if you can focus on your worries, rather than indicting your parents for being disorganizeed messes, it really will help. so for example, you could sa

. >> jill schlesinger is here to help us out. >> reporter: first of all, many companies offer really affordable group rates for supplemental life, disability and long-term care insurance. this is a case where the buying not even be available in the open market, especially when it comes to disability and long- term care insurance. both of those are expensive when you purchase them on your own. the most important thing to determine is whether that coverage is portable. that means you can take the policy with you if you leave the company. for retirement, more than half of large employers are offering roth 401(k)s. 10% of employees are using them. roth s for those who expect their tax brackets to rise in the future, like a young 20 something employee. they're also terrific for higher income employees, because they're not subject to minimum distribution requirements after age 70 and a half. >> we expect there are some lesser known benefits as well. can you talk about some of those? >> reporter: absolutely. only 5% of employees use stress and mental health counseling assistance programs. t

cbs news business analyst "jill schlesinger" is in studio 57... with ways to this tuesday... we're now watching the temps drop--- it's stillgoing to bve a great day though.meteorologist michael schlesinger has your fo. forecast.forecast... today...cooler. partly sunny in the morning then clearing. highs in the upper 60s. northwest winds 5 to 15 mph. tonight...cooler...clear. lows in the upper 40s. northwest winds up to 5 mph. wednesday...partly sunny. highs in the upper 60s. northwest winds up to 5 mph shifting to the northeast in the afternoon. wednesday night...mostly cloudy through around midnight...then partly cloudy with a 20 percent chance of ht after midnight. lows in the upper 40s. north winds up to 10 mph. thursday...cooler. partly sunny with a 20 percent chance of light rain showers. highs in the upper 50s. north winds 5 to 15 mph. thursday night...partly cloudy. lows around 40. friday...mostly sunny. highs in the lower 50s. after a ?very warm? start to this tuesday... we're now watching the temps drop--- it's stillgoing to bve a great day though.meteorologist michae

jill schlesinger and what states are doing to help in tonight's eye on >> reporter: 18 months ago, marc hoffman opened his first business, strong start, child learning center in trumbull, connecticut. he was not offer a retirement plan for 32 employees. while hoffman wants to help his staff save he simply doesn't have the time or expertise. >> there are so many things to do that those type of benefits are not first and fer most the number one priority with a new connecticut workers do not have access to work place retirement plans. like a 401(k) or ira. state controller, kevin lembo. >> folks are going to enter retirement underprepared and will likely turn back to state or federal government for level assistance if and when they run out of money. >> reporter: connecticut and seven state have recently passed legislation to help private sector workers get a retirement plan. starting in 201, businesses with more than five employees that don't already offer a retirement plan, will be required to participate. employees will be automatically enrolled at a 3% payroll reduction rate. but they c

jill schlesinger is here with ways to add to your savings. good morning. that's good news. really good news. what is the best way to save money? >> when we look at this, it is about, like, the same thing as diet and exercise. we need to form a habit. and it is really hard because what do we want to do? we want to do something that makes us feel good. we don't like delayed gratification. so behavioral economists say any way we can automate, to make it habitual, is really the way to go. and i tell you, frankly, it is because we can automate savings. >> americans have a lot of debt? >> well, americans do have a bunch of debt, most of it is housing debt, some of it is student dead, but the reality is that we have done a really good job of whittling down our debt over time and part of that is because of the financial crisis and some people defaulted on it, some people were released from it, but we have done a much better job paying down the debt, moving on, as you can see from the survey, really getting our heads on straight around savings. 1%. retirement account is the way to g

jill schlesinger and what states are doing to help in tonight's eye on money. >> reporter: 18 months ago, marc hoffman opened his first business, strong start, child learning center in trumbull, connecticut. he was not offer a retirement plan for 32 employees. staff save he simply doesn't have the time or expertise. >> there are so many things to do that those type of benefits are not first and fer most the number one priority with a new business. >> reporter: more than 600,000 connecticut workers do not have access to work place retirement plans. like a 401(k) or ira. state controller, kevin lembo. >> folks are going to enter retirement underprepared and will likely turn back to state or federal government for level out of money. >> reporter: connecticut and seven state have recently passed legislation to help private sector workers get a retirement plan. starting in 201, connecticut businesses with more than five employees that don't already offer a retirement plan, will be required to participate. employees will be automatically enrolled at a 3% payroll reduction rate. research sh

jill schlesinger of cbs -- jill wagner of cbs money watch has more. >> futures are pointing to a higher of an opening today. americans getting health coverage through obamacare will have fewer choices next year. the a.p. found a third will only have one insurer. >>> draftkings and fanduel could be joining forces, the two sides are reportedly close to announcing a merger. both companies are tied up in legal battles in numerous states. the sites are illegal gambling businesses. >>> and tesla's ceo ilan mosque showed off his latest -- elon musk showed off his latest creation. musk made that announcement at university studios hollywood on the old set of housewives glvment . >> we hear facebook is taking a page from its competitor snapchat. >> it looks pretty similar to snapchat. it's a camera that lets users take selfies and filters and masks. for halloween users can try on different masks like a skull and a witch when they share live video and react to posts with spooky emojis like a crying frankenstein or a cackling witch. get creative. easier than dressing up, right? >> yeah. you're righ

cbs news business analyst jill schlesinger is here to tell us how millions of beneficiaries could saveoney next year and potentially improve their health coverage. so, jill what should medicare beneficiaries know? >> reporter: you know, the only control that you have over your healthcare spending during retirement is the coverage you choose. and yet less than 15% of people ever change their medicare plans after their initial signup. so if you have a medigap supplemental plan and you're in good health, definitely shop around. you may able to save some money by switching to another company. if you have a medicare advantage which is the managed care alternative to traditional fee-for-service coverage, make sure all your doctors are in the networker, understand the deductibles and the out of pocket limits as well as the prescription drug choices. here's a bit of good news. average medicare premiums are set to drop by 4% next year. $31.40 on average per month. >> what about part d drug plans? >> reporter: this is the one where you really might find a big change. because if you don't make a

in new york i am jill schlesinger. >>> now let's check the forecast with dave. >> howdy good morning. sun is not up yet. but we are very close. less than an who are away from the sunrise this morning. so, things are looking good. speaking of looking good vallen we have a -- valentich in a sentus this. we have a cool down to look forward to. >> days after trump rallies in colorado, hillary clinton gets some support from a longmont native and hollywood actress. what she had to say. the latest on the u.s. government's response to a major cyber attack across the country that prevented access ,, ,, ,, ,, ,, ,, >>> live, from colorado's newschannel this is cbs4 morning news. >> and welcome back to colorado's newschannel. it's just about 6:30 on sundayoctober 23rd. we are a little more than a half our i -- who are away fromrise but-- hour away from morning. you have sleep left in my eyes. >> you have to get that out of there. come on. all right. yeah. hey, good morning. we have got a real nice days on- - day on way. cooler than yesterday's 82. can you believe 82 was the high yesterday and th

. >> cbs news business analyst jill schlesinger joins us live from insuring to discuss that deadline d how to pro actively manage your retirement before the holiday madness kicks in, good morning, jill. >> reporter: good morning. >> start with the taxes what do folks need to know, jill. >> reporter: remember way back when you applied for that six month extension to file your 2016 income taxes, well, i think you ought to clear your weekend, it is time to pay uncle sam, by monday, this monday, october 17th, you have got to file and pay any tax, interest, and penalties that are due. additional, small employers or self-employed people who filed for a tax extension you have to necessity to deadline to establish and fund a simplified employ pension or ira is also october 17th. remember that step that allows you to stock away 25 percent have of your compensation or 53 grand, big number, so don't forget to fund that retirement account. >>> i know you say now is a good time to check honorary timer. >> look remember that a lot of people they have to put away a bunch of money for social security

jill schlesinger this morning, thank you. >> sure. >>> it is 5:41.came an internet sensation, after the presidential debate on sunday. and not only you, but the good old red sweater. we will hear from the now famous questioner next. ,,,,,,,,,,,,,,,, jose vega, a f >>> the man accused of two palm springs police officer will appear in court today. jose vega a father of eight and the mother of a 4-year-old girl zeb ny were shot and killed on saturday, they were shot through a closed front door when they went to a home to check on a domestic disturbance. after a 12-hour standoff the suspect was forced out of the house. the father of officer zerebny says his daughter was starting to feel confident about being a mom. >> i was sitting and holding the baby and hey, dad, you know what, this new mom thing scared me when it happened but i got to tell you, i'm really good at it. >> palm springs pd has not had an officer killedded in duty, on duty, since 1962. the suspect in the double shooting is facing capital murder charges. >>> an oregon surfer is like lucky

. >> cbs news business analyst jill schlesinger joins us live with overlooked benefits that could helpod morning, jill. >> reporter: good morning. >> jill, what are some programs that employees are missing out on. >> you know, lot of big companies and mid sized companies are offering group rates for supplemental life, disability and long term care insurance. now this is great because it is buying power of the big group can help you find coverage that may not be available in the open markets. this is especially true when it comes to disability and long term care insurance, both of those are notoriously expensive when you purchase them on your own. most important thing to determine is whether that coverage is portable, that means you can take it with you if you leave the company. for retirement more than half of the large employers offer rot 401k only 10 percent of employees are using them. they are great for those who expect their tax brackets the to rise in the future, also for higher income employees because they are not subject to minimum distribution requirement after age 70 and a h

jill schlesinger is here with ways to add to your savings. good morning. >> good morning. >> that's really good news. what's the best way to save money? >> you know, when we look at this, it's about the same thing as diet and exercise. we need to form a habit. it's really hard. what do we want to do? we want to do something that makes us feel good. behavorial economists say any way to auto mate this to make it habitual is the way to go. easier than diet and exercise because we can automate it. >> do americans have a bunch of debt? >> well, americans have a bunch ever debt. most of it is housing debt, some of it student debt. but the reality is we've done a good job of whittling down our debt over time. we've done a much better job paying down the debt moving on getting our heads around savings. >> savings accounts pay about 1%. retirement accounts are the way to go, right? >> well it's a little bit of yes and yes. we want people to get 4% or 5% to get you started. but i can't stress enough for your savings, that emergency reserve fund that we

ahead, jill schlesinger is here with a tip in technology that can help you grow your savings. first, time to check your local weather. schlesinger is here with a tip in technology that can help you >> sunshine today after some cloud coverage this morning. a cold front moves through after two this week. the next cold front moves in late wednesday into thursday a little drizzle for thursday morning and will be in the upper 50s for friday. full weather details online at >>> singer-songwriter mike posner has regained his cool. ahead, he shows gayle how he learned to play the guitar to find a new sound. you're watching "cbs this morning." ? and i've been to a lot of ? i took carolina ? ? i took carolina ? ? ?you don't own me? ?don't try to change me in any way? ?oh? ?don't tell me what to do? ?just let me be myself? ?that's all i ask of you? the new 2017 corolla with toyota safety sense standard. ? tomorrow's the day we'll play something besides video games. every day is a gift especially for people with heart failure. but today there's entresto?- a breakthrough medicine that can h