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

How to track down that lost 401(k) or pension
Data from consulting firm AON Hewitt show that as many as 30% of pension accounts may be missing, according to this article on Forbes. Clients who think they have lost their retirement assets are advised to seek help from the Labor Department or nonprofit pension counseling centers funded by the Department of Health and Human Services. They may also check the databases of bankrupt corporations to track down their missing retirement plans.


Millions of Americans ignore this ultra-valuable tax break. Here's how to get it.
Seniors can prepare for the rising medical costs in retirement by contributing to a health savings account, but not many of them are taking advantage of this opportunity, according to this article on Money. That's because an HSA enables them to get "a triple tax benefit,” says an expert with the Insured Retirement Institute. “You get a deduction going into them, tax free growth on any earnings, and then tax-free withdrawals on qualified expenses.”

65% of baby boomers are making a huge financial mistake that could leave them broke
A survey by the NHP Foundation has found that 65% of baby boomers have not prepared for their medical expenses in retirement, according to this article on Motley Fool. That's because they think that Medicare will cover all their health-related bills, without realizing that they are responsible for most of the expenses, aside from premiums and coinsurance costs. To prepare for future medical costs, seniors should consider contributing to a health savings account, which is funded with pre-tax dollars and offers tax-free growth and withdrawals for qualified medical expenses.

What's better, collecting Social Security early or blowing through retirement savings?
Financial planners say that drawing 4% from retirement accounts is a sustainable withdrawal strategy, and exceeding that will increase the odds of outliving the nest egg, according to this Q-and-A article on Los Angeles Times. "Some financial planning researchers now think the optimum withdrawal rate should be closer to 3%, especially for people like you with longevity in their genes," says the expert. "Chances are good that one or both of you will make it into your 90s, which means your portfolio may need to last three decades or more."

How retirement investors can protect themselves — even without a fiduciary rule
Although a court ruling has prevented the Department of Labor to implement the fiduciary rule for financial advisors providing guidance on retirement accounts, an expert says that clients can protect themselves by using a Registered Investment Advisor, according to this article on MarketWatch. RIAs are registered with the Securities and Exchange Commission or state securities regulators, and Investment Adviser Representatives are required to observe the fiduciary standard, says the expert. While the IAR can also be a broker dealer, getting help from a professional who takes a fiduciary oath is “a cleaner and more straightforward way of getting protected” than what the fiduciary rule could give.

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