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

Why women gain more than men by working longer
Working past retirement age is often cited as one of the best ways to increase Social Security benefits. And it could be even more beneficial to women than to men, according to this article from The Wall Street Journal. That's because Social Security benefits are based on a worker’s highest 35 years of wages, adjusted for inflation, and women often have more years of low income—or no income—at some point in their careers. A study by Boston College’s Center for Retirement Research found that women are about three times as likely as men to have a “zero earnings year” at some point in the past 35 years. And working longer enables them to offset those years with a higher income.

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Social Security: Help clients grab every last dollar of benefits
10 planning strategies from analysts and experts.

Uncle Sam can't wait to throw your client a retirement surprise party
Taking a distribution from a tax-deferred retirement account could result in a tax surprise for clients, according to this article from Kiplinger. To avoid this, they should weigh their options before tapping into their 401(k) plan, know the tax consequences of the withdrawal, and consider moving some traditional assets to a Roth account. They should also monitor their required minimum distributions, and develop a plan for drawing their RMDs especially during a market downturn.


3 ways poor health hurts in retirement
Many people suffer from poor health because they want to avoid the high cost of getting medical attention, and this could have an impact on their retirement, according to this article on CNBC. Clients may not have enough retirement savings when they retire, as the cost of health care is expected to rise in the future and having poor health means needing more medical services as they age. Their health can also affect their Social Security claiming decisions, with clients who suffer from poor health more likely to start collecting their benefits early and reduce their benefit payouts.

Anyone can put money in a retirement account — what’s the best strategy for taking it out?
A majority of defined contribution plan sponsors do not offer or do not intend to offer in-plan decumulation/retirement-income products, like qualified longevity annuity contracts or retirement-income mutual funds, according to this article on MarketWatch. However, about 50% of large plan sponsors “may allow systematic withdrawals from their plans to help participants create an ongoing income, with regular distributions made to mirror paychecks,” the study found. If the plan offers such options, clients are advised to make their decision based on the fees, due diligence, and investment selection, says an expert.

Four factors that could derail retirement – and what to do about them
Seniors may have saved aggressively for retirement but will not be able to retire as planned, according to this article on personal finance website Motley Fool. That's because they are expected to live longer, and retiring at 65 may still be too early. Higher health care costs, having too conservative approach to investing and not paying attention to investments are also factors that could prompt them to push their retirement date.