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

Long-term care insurers steering through tough times
Clients who are looking for long-term care insurance should check the insurer's financial stability before making a decision, according to this article on Kiplinger. That's because many carriers offering long-term care coverage are experiencing financial woes and may no longer guarantee the payments when clients need them after they retire. Moreover, the overall long-term-care insurance business “has been an uphill battle on a number of fronts,” says a fee-only insurance adviser.

Bloomberg News

IRA trusts can protect your heirs from themselves
Seniors who have considerable savings in an IRA may want to use an IRA trust to leave the inheritance to their loved ones and ensure that the heirs spend the money wisely after they die, according to this article on CNBC. Although in certain cases the heirs can withdraw the entire amount from the account, such a move could have "negative tax implication and negative long-term financial effects," says an expert. The IRS will also tax the distribution even if the heirs intend to move the funds to a brokerage account.

How women can save more money for retirement
A report from Prudential shows that women are less likely than men to save enough for retirement. They receive less in government benefits and live longer than their male counterparts, according to this article on MarketWatch. “Women are in this perfect storm. Women are time-starved. They are doing more tasks at home, they’ve got less time to even plan for retirement or to learn about savings,” says an expert with Prudential. However, hope is not lost, as their median lifetime income is on the rise and employers are helping them by offering financial literacy programs and auto-enrollment in their retirement plans.

Are you entitled to a pension you've left behind?
Many Americans are entitled to a pension from their previous employer but can no longer trace the company that holds the pension's records, as their former employer has been acquired by various firms, according to this article on CBS Moneywatch. Seniors who are in similar situation are advised to seek help at the Pension Help America website. They should also get hold of all the documents they received from their former employer, as these records can help them locate their pension and defined contribution plans.

This is the age when you become 'old,' according to 4 different generations
A study by U.S. Trust has found that millennials consider people old when they reach the age of 59, while old age begins at 65 for Gen X respondents, according to this article on Money. For baby boomers and the silent generation, old age starts at 73, the study found. Millennials think that youth ends at age 40 while Gen X and baby boomer respondents say that youth stops at age 31, with the silent generation puts the end of youth at age 35.

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