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

How clients can stay on track with a boomerang kid
Parents can accept a returning adult child into their house without hurting their retirement prospects by engaging their child in a discussion on financial responsibility early on, according to this article on USA Today. They also need to be honest to their child about their own financial goals, particularly their retirement plan, and to help him or her financially but with a guarantee that the child will pay them back. Support should be limited only to necessary expenses and parents and their child should agree on how long he or she will stay with them.  --USA Today

How retirement nest eggs are being nickel-and-dimed by fees
Retirements savers could have additional $155,000 in their 401(k) plans if they find ways to reduce the fees, according to this article in U.S. News & World Report. A study by Demos found that 401(k) fees paid by a median-income, two-earner household in their lifetime could be nearly one-third their investment returns. The federal government has developed new rules to make fee disclosure more transparent, but many experts believe these measures are inadequate.  --Yahoo Finance

Five mistakes clients should avoid
People who are planning for retirement are advised to have a good estimate of the amount of savings they will need to cover their needs in the golden years, according to this article on MarketWatch. They also need to avoid making the mistake of underestimating health care and long-term care costs and filing for Social Security retirement benefits earlier. Many investors do nothing to reduce their retirement plan fees and take no action to diversify or rebalance their investment portfolios, which have to be avoided when engaging in retirement planning.  --MarketWatch

Market slump hits corporate pensions
Defined-benefit pension plans saw their aggregate funding levels dropped to 81% from 83% at the end of last year based on estimates from Goldman Sachs Asset Management, according to this article in The Wall Street Journal. The decline can be attributed to the recent volatility in the stock markets, said Michael Moran, senior pension strategist with Goldman Sachs. Recent movements could prompt companies to “revisit their asset allocation, investment policy and hedging strategy.”  --The Wall Street Journal

Can the 'great wealth transfer' save a client's retirement?
Wealth transfer through inheritances does not help much in improving people's retirement readiness, according to a study by the Boston College's Center for Retirement Research. Only less than 1% of households claimed that getting an inheritance from a loved one helped secure their retirement, the study found. It is because most beneficiaries "weren't at risk in the first place," said Alicia Munnell, the center's director.  --CNBC

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