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

How best to generate lifetime retirement income?
Systemic withdrawals and immediate annuities are two viable options for seniors to have a steady income throughout retirement, according to an article on CBS Moneywatch. When deciding on what option to take, clients should first decide which is more important for their situation: ensuring a higher retirement income or leaving something behind for their loved ones. Annuities are a better choice if clients expect a longer life span or get lower returns from investments, while systematic withdrawals is more beneficial for those with strong investment yields and shorter life span.  --CBS Moneywatch

Medicare premiums to remain flat
A majority of Medicare beneficiaries can expect their monthly premiums to stay the same at $104.90 next year, with annual deductibles for services under Part B of Medicare program to remain unchanged at $147, according to the Obama Administration. Deductibles for hospital admissions for the first 60 days under Part A will increase to $1,260 in 2015 from $1,216 this year. The daily cost of staying in skilled nursing facilities after the 20th day will also jump to $157.50 next year from $152 in 2014.  --The Wall Street Journal

Lackluster savings tarnishing seniors' golden years
As a recent study shows that a majority of retirees have no adequate nest egg to support their pre-retirement lifestyle, many seniors need to forgo planned overseas trips and other activities, according to this article on CNBC. Most retirees also feel the need to stay in the workforce to augment their limited retirement income. However, experts may need to reconsider the 70% wage replacement benchmark for retirees since needs and expenses vary among people.  --CNBC

Stop tinkering with your retirement portfolio
Instead of tinkering with the investment portfolio with no specific goals in mind, retirement investors should engage in good financing planning, according to this article on MarketWatch. An effective financial plan recognizes the uncertainty of the future, the unpredictable rates of return, and the importance of diversification in investing. Investors are advised to have a financial plan that provides an investment strategy based solely on their own retirement and financial goals.   --MarketWatch

How long will your 401(k) funds last in retirement?
As more workers depend on their 401(k) plans to save for retirement, they face the uncertainty whether their savings in the plan are adequate to support them until death, according to an article on Forbes. To ensure they will have a steady lifetime income, they should engage in retirement planning that makes use of meaningful assumptions on longevity and other factors, and evaluate and adjust their plans each year. Also, clients should set an income target based on individual circumstances, make retirement decisions based on expert's opinion, and include contingencies in their retirement plans.  --Forbes

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