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

Some retirees face big Medicare changes in 2015
Medicare beneficiaries are likely to look for alternative coverage or face higher costs if they keep their current policies as a result of recent changes in Medicare Advantage and Part D prescription-drug plans, according to the Kaiser Family Foundation. The Medicare Advantage market will remain strong as nearly 320,000 enrollees are expected to get a different Advantage plan or traditional Medicare for next year, according to a paper issued by the foundation. The average monthly premium for Medicare Part D plan will increase 4% to $38.83 next year, with enrollees in 60% of top stand-alone plans facing double-digit increases in premium, according to another paper from the foundation.  --MarketWatch

Should you take a pension buyout?
Retirees may consider taking a lump sum pension payment if they have other sources of retirement income that are enough for their living expenses and last until they die, according to this article on CBS Moneywatch. Taking a lump sum payment is also a good option if they may need a big amount to start a business or pay off debt, have no savings to cover emergency or other major expenses, and expect a shorter life span due to poor health. A lifetime monthly payment is recommended if clients need a regular income for their daily expenses through retirement, expect to live longer, and have other savings to cover emergency expenses.  --CBS Moneywatch

In hindsight, here's what retirees wish they'd known
Despite having a well-crafted retirement plan, some retirees claimed they have regrets after facing unforeseen events and consequences through their golden years, according to this article on Morningstar. Several retirees with investment portfolios said they wish they had anticipated the 2008 financial crisis so they could have prepared for it. Some retirees also spoke of the challenges of managing their finances, while others said that they regret not focusing much on their health.  --Morningstar

Changing jobs too often may shrink millennials' retirement funds
Twenty-five percent of workers who change jobs more often fail to get their retirement savings in 401(k) and other defined-benefit plans when they resign, according to a report from Fidelity Investments. The amount that job hoppers left is more than $1,700, with more than a third of millennials missing out 24% of their account balance. Younger workers are more likely to change jobs and leave much of retirement money on the table, as they resign before their account is fully vested, which usually takes three to six years of stay in the company.  --Motley Fool

How should a retiree gauge investment performance?
When measuring the performance of an investment portfolio, retirement investors need to use a benchmark that is based on the portfolio's performance in relation to their investment goals and needs, writes Aaron Katsman, president of Lighthouse Capital. Instead of keeping up with the benchmarks investors make for their portfolios, they should strive to come up with a mix of investments that exceed or outperform their benchmark. Clients may consider reducing their portfolio's risk exposure if they strongly feel that they stand to lose considerably from the current set of retirement investments, Katsman writes.  --MarketWatch

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