Retirement Heist: How Companies Plunder and Profit from the Nest Eggs of American Workers

“‘As far as I can determine there is only one solution [to the CEO’s demand to save more money]’, the HR representative wrote to her superiors. ‘That would be the death of all existing retirees.’” It’s no secret that hundreds of companies have been slashing pensions and health coverage earned by millions of retirees. Employers blame an aging workforce, stock market losses, and spiraling costs- what they call “a perfect storm” of external forces that has forced them to take drastic measures. But this so-called retirement crisis is no accident. Ellen E. Schultz, award-winning investigative reporter for the Wall Street Journal, reveals how large companies and the retirement industry-benefits consultants, insurance companies, and banks-have all played a huge and hidden role in the death spiral of American pensions and benefits. A little over a decade ago, most companies had more than enough set aside to pay the benefits earned by two generations of workers, no matter how...

Author: Schultz Ellen E.

ISBN: 9781101446072

Year of publication: 2011

Genre: Economics, Marketing, PR

Number of pages: 236

Reading time: 3 h. 56 min.

Formats: FB2, EPUB, PDF

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