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

Social Security: 4 filing pitfalls

Clients are advised to avoid using a break-even analysis when deciding on when to start collecting their Social Security retirement benefits, says Phil Moeller, a retirement expert. They should also consider deferring their retirement benefits preferably until they turn 70 and coordinate with their spouse when developing a claiming strategy, Moeller says. A do-ever option is also a good strategy if they realize their initial claiming strategy is misguided. –Morningstar

Why you shouldn’t rollover a late spouse’s IRA into your own

Clients who have been named beneficiary of their spouse's IRA can transfer the money to their own IRA in case the spouse dies, and will be subject to required minimum distributions when they reach the age of 70 1/2, according to this article on MarketWatch. Those who don't need the RMD may take it as an inherited IRA, meaning they may wait until their deceased spouse would have turned 70 1/2 before they can the RMD. –MarketWatch

Powell: How to fix America's retirement problems

Fixing Social Security's financial woes is one way for lawmakers to address the country's looming retirement crisis, according to an article on USA Today. Workers need to defer their Social Security benefits to improve their retirement prospects and realize that longevity poses a risk to financial security in the golden years. Broadening access to 401(k) plans as well as annuity options in these plans can also help workers secure their retirement. –USA Today

Americans are making a $24 billion retirement mistake

Many workers are not taking advantage of their employer's match contributions to their 401(k) plans, leaving an estimated $24 billion on the table every year, according to this article on The Motley Fool. The low default contribution of most plans is to blame why workers don't take this free money offered by their employers. The money can help workers secure their retirement as the amount grows due to compounding. –The Motley Fool

Social Security Q&A: Can I collect as a divorced widow after 7 years of marriage?

A client cannot file for survivor benefits on her husband's record even if she never married after they filed for divorce, according to this article to Forbes. The rules require that the marriage should last at least 10 years before divorce so that clients can file for survivor benefits on each other's record in case one of them dies. –Forbes

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