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

 ‘You can’t always get what you want’ with IRA transfers

Clients who want to roll over their spouses' IRA into their names can only do so if their spouses die and if they are properly named as beneficiaries, according to this article on MarketWatch. Any IRA distribution will result in taxes if there no after-tax contributions. Moreover, the 60-day-rule will not apply to them if the check is given in the name of their spouses. –MarketWatch

How to avoid running out of money in retirement

Maximizing Social Security benefits is one way that can help people avoid outliving their nest egg after they retire, according to this article from U.S. News & World Report. Clients can also ensure they will have enough savings to last through the golden years if their retirement plan accounts for the possibility that they will longer than expected and the impact of inflation. An immediate annuity is an option to ensure they will have a steady source of income in advance age, while adopting a 4% withdrawal rule may also help them avoid draining their retirement savings. –Yahoo Finance

How to shift from saving to spending your retirement

Having a plan on how to tap retirement savings is necessary for clients to ensure their nest egg will last and to minimize their anxiety associated with the shift from saving to spending the funds, according to an article on The Motley Fool. They may consider splitting their retirement assets into separate buckets intended for specific uses so they may avoid overspending. They can accomplish the task by dividing their portfolio for one-time and ongoing expenses and further split them according to their priorities. –The Motley Fool

Your 401(k) plan may be selling you short

Default contribution rate in many 401(k) retirement savings plans is 3% of the salary, but experts say that the rate should be at least 15% to help secure the workers' finances in the golden years, according to this article on Bloomberg. Employees also need to boost their contributions to 6% if they want to take advantage of their employer's match contribution. Studies show that plans' decision to increase the default contribution rates didn't encourage workers to leave the plans. –Bloomberg

Social Security Q&A: Can I still collect if my ex wants me to get nothing?

A retiree can collect Social Security benefits on his former wife's work record even without her consent if their marriage lasted at least 10 years and they have been divorced for two or more years, according to this article on Forbes. Claiming a benefit on his ex's record is possible if her full retirement benefit is bigger than his own. Also the former spouse is already 62 and collecting her retirement benefit. –Forbes

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