Lee Conrad

Employees still have a few weeks to make deductible contributions to various retirement accounts, as well as health savings accounts, to reduce their 2017 tax liabilities.

The bill aims to help workers think in terms of lifetime income — as opposed to accumulated balances — by requiring benefit statements to include income estimates at least once a year.

These funds can help workers put saving plans on autopilot, but they can also take on more risk than expected.

Benefit are usually expected to replace about 40% of their pre-retirement income, but that's an average, so many workers will get even less. The question is: how much less?

Employees should consider limiting their traditional 401(k) savings, as the plans provide taxable distributions that can boost their tax bill in retirement

Despite the recent market downturn, workers should remain invested in their employer-sponsored 401(k) plan.

A decline in income as a result of the death of a spouse and an increase in medical expenses both pose a serious risk to retirement but can be curbed with proper planning.

More workers are gaining access to a Roth 401(k), and employees should take advantage of it.

Employees 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.

Working seniors who intend to start collecting Social Security benefits in the middle of the year should know about the monthly earnings test.