Steel prices on New York City construction sites are already increasing ahead of expected tariffs on imported steel and aluminum, several companies said. Plate steel prices have risen about 15% since November, while steel beam prices have increased by about 10%.
Residential construction companies are reporting tougher scrutiny of their workforces by US Immigration and Customs Enforcement. Job sites and employers have reported receiving notice of planned audits, inspections and compliance checks.
While many American workers aspire to retire in their 50s, columnist Maurie Backman points out this plan has a number of disadvantages. Being too young for full access to 401(k) savings, Social Security and Medicare are pitfalls she cites.
Plan sponsors accelerated transactions transferring pension liabilities to annuities last year, per data from consulting firm Mercer. Deal values held at $14 billion in 2015 and 2016 but increased to $22 billion in 2017, the company said.
Contractors and surety bond producers can work together to identify innovative ways to keep costs under control and risks at a minimum, an insurance agency executive said during an expert panel in Utah. Sureties and insurance companies are showing caution in areas where they have experienced losses, said a construction executive on the panel.
California is spending $25 million on a pre-apprenticeship program to teach construction industry basics to women. Less than 3% of the sector's workforce is female, according to a report.
With savers due to make their individual retirement account contributions for 2017 before April 18, Christine Benz of Morningstar offers a guide to the process, which can be complex. She discusses the differences between traditional and Roth IRAs, and points out some key factors that should be borne in mind.
Data from the Employee Benefit Research Institute show 79% of Americans expect to bolster their income in later years by working past the traditional retirement age of 65, but columnist Michelle Singletary argues that this might not be as simple as it seems. People may find themselves simply incapable of working once they reach a certain age and, despite legislation, employers are frequently reluctant to hire older people.
Saving money is only the beginning of planning for a secure retirement. Here are four distribution strategies to ensure funds last.
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