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

Would your retirement plan hold up in court?
Clients should know how to justify the details of their retirement plan to ensure that it would hold up in court, writes a Forbes contributor. The contributor was recently called to be an expert witness in court, and found himself answering very specific questions on a portfolio and a series of what-if questions. Defending a retirement plan in court can be quite a game of cat-and-mouse, he writes. However, for new and soon-to-be retirees, “it can serve as a good opportunity to understand what does and doesn’t go into a retirement plan and allow them to be better prepared to make the transition from work life to home life," writes the expert.

Millennials are saving for the future, if they can afford to
In a group discussion, millennials shared their thoughts about retirement and what they are doing to build their nest egg, according to this article from The New York Times. According to them, they are making small adjustments to save and invest for retirement. "I used to have crazy online shopping binges. So now it’s like, O.K., be a responsible adult and put that money in your I.R.A. instead of just spending it."

How to get the most out of IRA contributions
Investors who intend to invest in an IRA and make the most of the account should determine which of a Roth and a traditional IRA will best suit their needs, according to this article on financial website Morningstar. An IRA also offers an opportunity for a married investor to fund an account for their non-earning spouse. They should also put their new contributions in areas where they have minimal or no allocations, and review their portfolio to determine areas that need some fixing.

What can clients do if retirement savings fall short
A study has found that clients can improve their retirement prospects the most by working longer, according to this article on CBS Moneywatch. The study found that average income workers aged 66 who opt to work one more year before retiring can expect a 7.75% increase in retirement income. Moreover, clients with average income aged 62 can raise their retirement income by 32.7% if they continue working for four more years and retire at age 66, or 74.6% if they opt to stay in the labor force for eight more years.

Surging bond yields to pinch homeowners and retirees
Retirees are likely to be affected by rising bond yields, according to this article on CNBC. That's because higher yields could put a dent on the values of bonds. Retirees are exposed to bonds through mutual bonds held as direct investments or assets in retirement accounts such as 401(k) and IRAs.