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

New Social Security rule change approved by House 

Democrats seem to have no option left to counter a new legislative rule approved by the House of Representatives that would block fund reallocation to Social Security Disability Trust fund next year, according to congressional aides. The new rule would reduce the benefits for disabled workers by as much as 20%. Republican Senate Majority Leader Mitch McConnell needs to stop the "audacious" rule change as it would "hold hostage" benefits for 9 million disabled workers and boost "the chances of yet another unnecessary manufactured crisis, akin to shutting down the government or threatening the full faith and credit of the United States," according to a group of Senate Democrats. –The New York Times

How to undo a Roth IRA contribution

Clients can expect a 6% penalty on their Roth contributions if they make these contributions during a year when they receive an income greater than the limits, according to this article on Kiplinger. They are advised to withdraw the contributions as well as the earnings out of the account before the deadline for tax filing, which is set on April 15 or October 15 for those who file an extension. Income limit is $181,000 for couples filing jointly and $114,000 for those filing individually. –Kiplinger

Will you need a ‘longevity’ annuity in retirement?

Deferred income annuities are good financial products because they guarantee income for life and enable clients to predetermine their finances in their advance years when they are mentally unable to attend to their investments, according to an article on MarketWatch. However, annuity buyers will no longer have control over the premium and annuity payments may not sufficiently cover the impact of inflation. Learn about the four strategies that retirees can use to integrate deferred income annuities into their portfolio. –MarketWatch

5 retirement resolutions for 2015

Investors who are preparing for their golden years can ensure they are on track in achieving their financial goals this year if they remain informed about the market while being focused on their own plans, according to this article on Forbes. They may also opt to maximize their retirement plan contributions this year and promptly make their contributions to avoid missing out on months of potential investment growth. Evaluating their retirement income and other numbers is another way to secure their finances in retirement, and seeking advice will also especially help clients who are not confident about their retirement strategy. –Forbes

5 secrets to a happy retirement

Clients can secure a happy retirement if they ensure they will have a predictable income and continue working past their retirement age, according to this article on Time Money. They are likely to have a fulfilling life in retirement if they pursue at least four hobbies that will keep them active, and if they opt to rent a home instead of maintaining their old home. Married couples in their golden years will be better off they live relatively far from their children, as they may get disappointed with the satisfaction they get from their children. –Time Money

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