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

How to ignore Roth IRA contribution limits and put away over $30,000 per year

High-income workers can contribute more than $30,000 to their Roth IRA every year despite the contribution limit imposed on this type of retirement accounts, according to an article on Motley Fool. To do this, they are advised to participate in their company's 401(k) or 403(b) plans, which allow them to make "after-tax" contributions amounting to $30,500. After making such contribution to these plans, clients can divert the money to their Roth IRA without paying any tax. –Motley Fool

Use the drop in oil prices to boost retirement income

The decline in oil prices means stocks of some quality, dividend paying companies are on sale, providing an investing opportunity for retirees, according to this article on Forbes. The price decline could lead to a lower pay-out ratio of oil company stocks, making dividend pay-outs easier during difficult periods. Also, the drop in oil prices means retirees can buy more shares, which would boost their dividend income. –Forbes

Why you don’t (yet) have an annuity in your 401(k)

Although the U.S. Treasury passed rules allowing 401(k) plans to offer annuity products, only a few employers have included such products in their 401(k) investment options, according to this article on MarketWatch. This is because many employers remain concerned about the fiduciary risk of offering these annuities to their workers despite the federal government's approval based on Towers Watson's survey results. Companies also fear that offering annuities will mean “administrative complexity,” the survey finds. –MarketWatch

Six ways to safely spend more in retirement

Retirees can have more money to spend without taking the risk of outliving their nest egg if they find strategies to optimize their Social Security benefits, writes Robert Powell. They can also increase their retirement income if they buy a life annuity and long-term care insurance. Other ways to ensure retirement income is sufficient to cover their needs are to determine a safe withdrawal rate, account for their tendencies as human beings, and seek guidance from a financial adviser. –USA Today

401(k) tips for job hoppers

People who intend to stay with their employer for a short period can take advantage of their 401(k) plan benefits if they sign up the earliest time possible and get the employer match contributions as soon as they qualify, according to this article in U.S. News & World Report. They also need to contribute the required amount to get full employer contribution and ensure they are vested in the plan before consider leaving the company. It is good for them to simplify their accounts, while cashing out their 401(k) assets is not a good option. –Yahoo Finance

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