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

Maximizing Social Security benefits
Working seniors who intend to start collecting Social Security retirement benefits in the middle of the year should know about the monthly earnings test in addition to the annual test, according to this article from Kiplinger. That's because the monthly test will enable them to get their full benefits if their monthly earnings do not exceed $1,420, regardless of their annual income. It’s especially helpful for workers who leave work midyear. “You have to be careful if you go up to $1,421–then the agency would add the [annual income]," says an expert. "A sneaky five-Friday payday month might end up passing the monthly earnings amount."

Social Security checks (Bloomberg News)

Client leave a 401(k) at an old job? Here's how to find it
Clients are advised to contact their former employer to determine if they left 401(k) assets with the company when they resigned, according to this article on USA Today. Those who have old 401(k) plans with their former employer have the option of rolling the assets into an IRA or their 401(k) plan with their current employer. Rolling into a current 401(k) plan can be a good option if the plan offers reasonable fees and services of an investment advisor who is a fiduciary, while stashing the money in an IRA is recommended if they have a dependable financial advisor.

Are 401(k) fees shrinking your retirement returns? Here's what you need to know
401(k) participants should be mindful of the fees that are charged to them, as these costs could reduce their overall returns, writes a Forbes contributor. For example, a 401(k) investors could lose $590,000 for paying 1% in fees over a period of 40 years, writes the expert. "A typical fee of one or two percent does not sound like a lot, but this adds up to a bundle by the time retirement rolls around."

Tips for managing debt in retirement
An expert says that seniors who carry multiple types of debt into retirement should focus on the more expensive before paying off the lesser expensive ones, according to this article on Morningstar. They should also make tax considerations when deciding which one to pay, says the expert. "You line those up in terms of what's the gross rate, what's the after-tax benefit, and pay those off in order of highest rate to lowest rate."

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