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

BlackRock's Larry Fink on the retirement savings crisis
Workers who are 45 and above need to include longevity in their retirement planning as the country faces a retirement savings crisis, Larry Fink of BlackRock. As people tend to be healthier and often live longer than expected, longevity should be viewed as a "blessing" that gives them the opportunity to continue working past the age of retirement. The fear of loss is a factor that keeps people from building adequate nest eggs for their golden years, and the government may consider putting up a mandatory retirement savings system to address the crisis, Fink says.  -- Businessweek

Many Americans are not prepared for retirement: Fed survey
Many households are unprepared for retirement, or simply don't plans to ever retire, with only about 25% of workers saving through an employer-sponsored 401(k) retirement plan, according to a survey. Below one-third of non-retired respondents claimed they don't have any pension or retirement savings, with 25% saying they didn't make any plans for their golden years. The poll also found that 25% of respondents who considered retirement planning had no idea how they will pay their bills in retirement.  -- MarketWatch

Roth IRA might be used to pay school loan
Although using retirement savings to pay off debt is usually not a good idea, clients can settle their student loan using money from their Roth IRA, according to Bankrate, an online provider of financial information. In response to an inquiry from a worker who has a concern over unpaid student loan, an expert said that in certain cases, this can make sense. Clients will not face a big income tax penalty if they withdraw from Roth IRA as contributions are pre-taxed, he says. When making a Roth IRA withdrawal, clients should consider "account seasoning" and know the rule that allows regular contributions to be withdrawn first, before other contributions and earnings, the expert says.  -- Yahoo Finance

Why the good news for retiree health care may not last
There will be no increase in Medicare premiums next year but the program's long-term financial status prompts people to think that a premium increase is not a remote possibility. The low cost of health care services means premium for Part B next year will be $104.90 per month, while there will be a $1 increase in monthly premium for Part D plan, according to the Centers for Medicare & Medicaid Services.  -- CNN Money

5 ways to confront new health-care costs in retirement
As retirees are likely to pay a bigger share of their health care expenses as employer coverage is poised for an overhaul, opening a health saving account can help them prepare for the rising costs, according to Morningstar. They may also consider working past their retirement age and file Social Security benefits only when they reach their full retirement age of 70. Clients can save money if they choose the Medicare Advantage coverage option although there are tradeoffs. They also need to account for Medicare's premium brackets when doing income planning.  -- Morningstar

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