Principal will continue selling variable annuities and invest in growth areas such as global asset management and retirement businesses in the U.S. and select emerging markets.

Plan advisors can benefit from the increased attention on retirement income.

Many pension-saver clients are abandoning the formula -- particularly the 40% bond component.

While not an overly complicated benefit, initially signing up for Medicare can be an overwhelming and anxiety-inducing process.

Clients should be able to take proactive steps without worrying about retroactive provisions.

The act proposes some tectonic shifts that would greatly impact high-net-worth clients.