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

How to fix the Social Security Disability Insurance program
Congress should not wait for Social Security's disability trust fund to run dry by the end of 2016 and pass a bill before the year's end to address the looming insolvency, according to a working group convened by the Bipartisan Policy Center. This will prevent benefit cuts and give time for policymakers to develop long-term adjustments to fix the problem, the group says. Lawmakers also need to include provisions that will enhance SSDI's program integrity issues in a law they pass that will call for a transfer of resources from Social Security's retirement trust fund to the disability trust fund, the group adds.--MarketWatch

Millennials: How to become a 401(k) millionaire
A 401(k) plan is a retirement savings vehicle that will enable millennial workers to set aside substantially for their golden years, according to this article from Bankrate. To save as much as $1 million in the plan, clients are advised to automate their contributions and raise the rate by 1% every year. Young 401(k) participants also need to contribute diligently, choose investment options that will maximize their returns and avoid cashing out their assets if they decide to move to another employer.  --Fox Business

What to consider before rolling over your 401(k)
Retirement savers need to consider the investment expenses in an IRA before they decide to roll over their 401(k) assets into the account, according to this article on CBS Moneywatch. They also need to determine if their employer-sponsored retirement plans have "guaranteed fund option" and other special options, which a brokerage account IRA doesn't have. Employers are bound to provide investment advice and management to 401(k) participants, while IRA investors will have to depend on a financial advisor for guidance.  --CBS Moneywatch

The market swoon could make these annuities more popular than ever
Demand for fixed indexed annuities is on the rise as a report from the Insured Retirement Institute shows that sales grew nearly 25% to $48 billion last year, representing more than 20% of all annuity sales, according to this article on The Motley Fool. Fixed indexed annuity rates are based on stock market conditions, making the product more attractive than traditional fixed annuities, whose rates are low thanks to the bond market. Also, investors who want to reduce risk will be drawn to fixed indexed annuities for guaranteed lifetime income and protection against loss of capital.  --The Motley Fool

How thinking about retirement shapes your life
People's retirement goals can influence their decisions that affect their saving and spending behavior, according to this article in U.S. News & World Report. With these goals in mind, they tend to reduce their spending to free more money to save for retirement and strive to boost their income so they can retire at the age they want. They will be more likely to invest in index funds since these investments outperform active funds but require minimal management, and to keep themselves healthy since they intend to have an active lifestyle in their golden years.  --Yahoo Finance

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