Retirement Heist
How Companies Plunder and Profit from the Nest Eggs of American Workers
It's no secret that hundreds of companies have been slashing pensions and health coverage for millions of retirees. Employers blame an aging workforce, stock market losses, and spiraling costs. But the so-called retirement crisis is no accident, and large corporations have played a significant and hidden role in creating it. Investigative reporter Ellen E. Schultz draws back the curtain from one of the biggest and least understood scandals in decades. She shows how companies created the pension crisis by plundering billions from their pension plans; cut pensions for millions of midlevel workers but used the savings to boost special executive pensions; purchase life insurance policies on employees and collect death benefits when they die-without telling them or their families. This is a must-read for anyone concerned with their financial future.
