Our daily roundup of retirement news your client may be thinking about. 

314 taxpayers have IRAs averaging $258 million each

The Government Accountability Office estimated that there were 314 taxpayers who stashed away more than $25 million each to their individual tax-deferred IRAs in 2011. The total assets of these accounts amounted to $81 billion, with an average of $258 million per taxpayer, GAO says. Overall, there are 43 million taxpayers who have IRAs, with 622,000 of them holding between $1 million and $5 million in these accounts. Only 9,000 taxpayers have IRAs with assets of more than $45 million. -- Forbes

Why your 401(k) is missing $273,000

Middle-income workers in the 55-65 age group have retained only $100,000 in their 401(k) plans, and the amount would be inadequate to supplement their Social Security retirement benefits, according to a survey by the Boston College Center for Retirement Research. These workers could have had $273,000 more if the 401(k) system had actually worked as it was conceptualized, the study finds. These workers have lost the money from hefty fees, early withdrawals and other factors. – Time Money

Why your 401(k) is missing $273K; With Calpers quitting hedge funds, other investors reflect; Q&A: How to have the best retirement possible; 3 ways to maximize your 401(k)

With Calpers quitting hedge funds, other investors reflect

The decision by the California Public Employees’ Retirement System to give up its hedge fund investments worth $4 billion prompted other investors to reconsider their own hedge fund program, according to this article in the New York Times. “More institutions have been getting on the bandwagon and getting into hedge funds. The fact that Calpers is jumping off is an important time for reflection,” says Rodger F. Smith of Greenwich Associates. – The New York Times

Q&A: How to have the best retirement possible

Retirees are advised to make use of their ample time and the skills they honed over the years to do what they think is important and meaningful, and to continue learning new skills, says Jo Ann Jenkins, new CEO of AARP. Health security, financial stability, and personal fulfillment are the major challenges retirees face today. Retirement is supposed to be the third stage of life, but some people are not meant to retire, she says. For pre-retirees, it is important to plan for what they intend to do during this stage, which may last two to three decades, Jenkins adds. – USA Today

3 ways to maximize your 401(k)

Workers need to make the most out of their 401(k) plans so they can ensure they will have an adequate financial back-up when they retire, according to an article in U.S. News & World Report. One way to max out their plan is to take full advantage of their employer match contributions. Workers should also rebalance their investments within the plan every year and consider getting a Roth IRA if it’s available in their plan. – Yahoo Finance

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