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

7 important financial moves for clients who turn 65 this year
Clients who turn 65 this year will have to make important financial decisions, such as signing up for Medicare and getting a Medicare supplement policy, according to Kiplinger. They will also need to stop contributing to a health savings account once they enroll in Medicare, start developing a Social Security claiming strategy and take advantage of catch-up contributions. It is also high time for them to start making a plan for their retirement savings withdrawals and reassess their retirement goals.  --Kiplinger

Opinion: What if, like Powerball, clients are offered a lump-sum payment at work?
Clients who are offered a lump-sum payment of their pension should weigh their options before accepting the offer, according to MarketWatch. They may consider getting a lump sum but use the money to buy an annuity product that offers the same or bigger payout than the pension payout. If not, they are advised to keep their pension, says Stan Haitcock. “About 80% of the time, the issuing company has a higher payout than you could get on the street, meaning you are better off sticking with the pension.”--MarketWatch

For some, a managed 401(k)'s tailoring beats a target-date fund
401(k) participants may be better off having a managed account instead of target-date funds, according to USA Today. Those who opt for managed accounts will have a personalized, actively-managed portfolio, including customized advice on savings rate, investment selection and retirement age, which target-date fund investors won't have. However, according to a report from the Government Accountability Office, the additional fees that managed accounts charge can offset the advantages that these accounts offer.  --USA Today

How couples can get the most out of Social Security
Despite the new law that puts an end to Social Security claiming strategies for couples, a 65-year-old client is still eligible to use the restricted application strategy since he turned 62 before 2015, according to this Q&A article in Time Money. He is allowed to make a restricted application after he reaches the age of 66 and his spouse turns 62 and files for her own retirement benefit.  --Time Money

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