03174cam a22003854a 4500 129325 20230410115445.0 110414s2012 nyu b 001 0 eng 16736365 2011015064 9781591845652 (OCoLC)ocn466335763 DLC DLC YDX BTCTA YDXCP MLY IK2 ILC WIQ BWX VP@ DLC Eng pcc n-us--- HD 7125 S387r 2012 331.25/20973 Schultz, Ellen. Retirement heist : how companies plunder and profit from the nest eggs of American workers / Ellen E. Schultz. New York : Portfolio/Penguin, 2012 . vi, 248 p. ; 24 cm. "An expose of the ways corporations manipulate retirement plans at employee expense. It's no secret that hundreds of companies, from GM to IBM, 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 demographic accident- and large corporations have played a significant and hidden role in creating it. Award-winning Wall Street Journal reporter Ellen E. Schultz draws back the curtain on 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, middleaged 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 all who are concerned about their financial future and that of the whole country"-- Provided by publisher. Siphon: How companies plunder the pension piggy banks -- Heist: Replenishing pension assets by cutting benefits -- Profit center: How pension and retiree health plans boost earnings -- Health scare: Inflating retiree health liabilities to boost profits -- Portfolio management: Swapping populations of retirees for cash and profits -- Wealth transfer: The hidden burden of spiraling executive pensions and pay -- Death benefits: How dead peasants help finance executive pay -- Unfair shares: Using employees' pensions to finance executive liabilities -- Project Sunshine: A human resources plot to dissolve retiree benefits -- Twilight zone: How employers use pension law to thwart retirees -- In denial: Incentives to withhold benefits -- Epitaph: The games continue. Includes bibliographical references and index. Pensions United States. Corporations Moral and ethical aspects United States. Life insurance policies United States. Pensiones Estados Unidos. Seguros de vida Estados Unidos. Sociedades de pensionados Estados Unidos. Cover image ftp://ppftpuser:welcome@ftp01.penguingroup.com/Booksellers_and_Media/Covers/2008_2009_New_Covers/9781591843337.jpg lcc bk dvf 41567 41567 0 0 lcc 0 0 CS BJB BJB CS 2023-04-10 1 0 HD 7125 S387r 2012 00000123279 2018-10-24 00:00:00 1 2018-10-24 bk