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

Separate reports focus on reducing senior poverty without broad benefit expansion
Separate proposals from the American Enterprise Institute and the Bipartisan Policy Center's Commission on Retirement Security and Personal Savings are calling for strategies to curb the incidence of poverty among seniors without broad Social Security benefit expansions, according to this article on The Wall Street Journal. The proposed plans differ in many ways, but say they would restore the program's solvency. Also, these proposals would "enhance retirement security for those who depend most on the program while increasing retirement income for the bottom 30% or so of earners and reducing senior poverty." –The Wall Street Journal

Image: Bloomberg
Image: Bloomberg

3 ways to lower your long-term-care insurance premiums
Cutting inflation protection is one way to make long-term-care insurance premiums affordable for clients who cannot afford them, according to this article on Kiplinger. Clients may also seek to shorten the policy's coverage term to reduce the premiums. Another way for clients to lower the cost of long-term-care insurance is to take the paid-up option, which insurers are required to offer in several states. –Kiplinger

Making 401(k)s for everybody
A new paper by the Bipartisan Policy Center has called for improving 401(k) plans by establishing “Retirement Security Plans” for companies with fewer than 500 workers and scrapping discrimination testing through simpler “safe harbor” rules, according to this article on Morningstar. The proposals could expand the benefits offered by 401(k) plans, enabling workers to secure their retirement, the article says. "They would make 401(k) plans essentially costless for smaller employers" and make the plans "riskless-- the employees, not the company, are on the hook for the market’s behavior, and the government, not the company, bears the legal responsibility for provider selection." –Morningstar

3 moves to boost your odds of an early retirement
Investors cannot rely on market returns to secure their retirement, so they need to save aggressively during their working years to end up with a nest egg to last their lifetime, according to CNBC. They should seize every opportunity to save, such as starting to stash money in their retirement accounts early in their career. They also need to reduce their spending and adjust their lifestyle to free more money for retirement saving, and find ways to offset the funds they spend. –CNBC

Couples need to build their retirement vision together. Here’s how.
Many couples have a disconnect when it comes to planning for their future and should close this gap by working closely on their retirement plan, according to this article on MarketWatch. More often than not, they don't share the same mind-set and vision about their future together, such that a serious conversation is needed to make sure they are on the same page when planning for retirement. Get to know some tips that can help them address their differences when discussing their future. –MarketWatch
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