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.
A bill introduced in the House last year would allow up to $40,150 in student-loan-debt forgiveness per person for those who agree to delay their Social Security benefits. A survey from LendEdu shows 46% of people with student-loan debt would be willing to delay Social Security payments to have all or some of their student debt forgiven.
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.
The recent stock market correction was greeted enthusiastically by 19% of millennials, who said they felt excited by it, according to a survey by Bankrate.com. A quarter of millennial investors surveyed said they increased their holdings during the recent downturn.