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

Your clients' 401(k)s may be skimping on this key investment
Target-date funds are becoming a popular investment choice among 401(k) participants, with these funds growing 280% over the last five years based on a study by BrightScope, according to this article on CNBC. However, most TDFs don't have alternative investments, which are just as important in long-term investing. A study by Strategic Insight shows that only 11 of the TDF series available within 401(k) plans include alternative investments. "The fund industry generally advocates a 10% to 20% allocation to liquid alternatives for risk mitigation, but many off-the-shelf asset-allocation portfolios seem to fall short of that," said Bridget Bearden of Strategic Insight. -- CNBC

How millennials and boomers are killing Gen X’s retirement savings
Many from the Gen X generation are in a unique situation of looking after their children and their parents, and this limits their ability to save for retirement, according to this article on Time Money. Gen Xers have $291,297, on average, in their accounts, 70% less than their retirement savings target, according to a study by the Bank of Montreal. “The numbers indicate that this generation may be dipping into their retirement savings to support family members, instead of exploring other options," says Mike Miroballi, president of BMO Harris Financial Advisors.  --Time Money

Earning Social Security on the battlefield and the home front
Military personnel who are entitled to Social Security retirement benefits also receive benefits from the Veterans Administration, which has little or no impact on their Social Security paycheck, according to this article on Fox Business. Like civilian workers, service members need to earn at least 40 credits and reach the age of 62 to collect Social Security retirement benefits and for their families to get spousal and child benefits. Soldiers who are collecting additional benefit from the Veterans Administration are also entitled to Disability insurance but have to meet more stringent requirements.  --Fox Business

Why the new myRA plan isn’t best for some clients
The new myRA is a good starter for workers who want to save for retirement but have no access to a retirement plan in the workplace, according to this article on Kiplinger. The newly launched retirement program offers no minimum investing requirements, charges no fees and has no investing risk. However, myRA is not intended for long-term investment, so clients are advised to hold a Roth IRA if they have more money to save and invest for retirement.  --Kiplinger

Arguments to justify a delayed claiming age for Social Security
Clients will be better off delaying their Social Security retirement benefits than collecting their benefits early, writes Wade Pfau, a professor at the American College and principal of McLean Asset Management. Using the logic of "Pascal's Wager," Pfau argues that clients who defer their benefits can expect minor consequences if they die early, but can face serious outcome if they outlive their nest egg and live longer than expected. "Greater emphasis should be placed on what happens in longer retirements, because the financial consequences are more severe, and this scenario is when delaying Social Security will have a clear positive impact."  --Forbes

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