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

How the new-model 401(k) can help boost your retirement savings

401(k) plans increasingly resemble the traditional pensions that guarantee a steady income for workers in retirement, according to this article on Time Money. As pensions are beginning to disappear, industry experts are transforming the 401(k) model into one that also offers a guaranteed income stream by introducing annuities within the plan. Also plan sponsors are looking for options that will enable participants to convert some of their 401(k) assets to an income stream after leaving the workplace. –Time Money

Personal finance tips for Americans considering retiring overseas

Investors who intend to retire overseas are advised to consult with the compliance department of the financial institution with regard to their retirement accounts, says a financial planner. The department is responsible for interpreting local laws and those in their new country and how these statutes apply to their retirement accounts, the expert says. "Today, many of the large U.S. financial institutions will not allow any Americans living overseas (even their own employees) to buy U.S.-listed mutual funds, and many have been choosing to no longer work with overseas Americans — in the most dramatic cases, forcibly closing their investment and even IRA accounts." –The Wall Street Journal

Why you need to ignore the anti-401(k) cranks

A 401(k) plan remains the best retirement saving vehicle for most people despite the many flaws that critics hurl against it, according to this article on MarketWatch. While 401(k) contributions are tax-free, withdrawals from the plan are subject to tax, prompting some advisers to believe that the set-up makes people pay more in taxes, given looming retirement concerns. However, figures show that people are likely to face lower taxes after retirement, while there are ways for retirees to reduce their tax burden in the future. –MarketWatch

Retirement plans for small business gaining steam

A bill in Washington State that will create a retirement saving program for small business workers received Gov. Jay Inslee's signature, according to this article on CNBC. The program is the same as the program that Illinois created in January, with more states considering creating similar plans to help small business employees save for retirement. "I have not seen a lot of movement like this on other issues. Personally, I don't think much is going to stand in the way," says AARP's Sarah Gill. –CNBC

Social Security Q&A: Can I file if my deceased ex was a citizen?

A 60-year-old immigrant who was married to an American for 10 years before they filed divorce in 2010 is entitled to a widow's benefit on his record, according to an article on Forbes. Even though her former husband remarried after he passed away, she remains qualified to such a benefit, but can expect a 28.5% reduction in her benefit value if she opts to file for the benefit this year. –Forbes

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