Wednesday, December 28, 2016
A Tale of Two Retirements: The Great Divide Between CEOs and Everyone Else
By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She now spends most of her time in Asia researching a book about textile artisans. She also writes regularly about legal, political economy, and regulatory topics for various consulting clients and publications, as well as writes occasional travel pieces for The National.
The Institute for Policy Studies (IPS) earlier this month released its second annual report on the CEO-worker retirement benefit gap. A Tale of Two Retirements analyzes how CEOs are provided with colossal nest eggs– monthly retirement checks ranging from more than $100,000 to more than $1,000,000– while at the same time many of their companies pursue strategies that erode retirement security for their employees.
The CEO-worker retirement benefit gap has become such a chasm, not as the result of executives working harder or investing more wisely, but as “yet one more example of rule-rigging in favor of the 1%,” according to the IPS.
Posted by Michele Kearney at 7:52 AM