Saturday, July 08, 2006

Workers' Pensions Get Cut While Executives' Pensions Grow

Here is a very in depth article explaining how workers' pensions are getting cut, while pensions for executives grow. Here is the main idea (read the entire article for many details and numbers)...

Even as many reduce, freeze or eliminate pensions for workers -- complaining of the costs -- their executives are building up ever-bigger pensions, causing the companies' financial obligations for them to balloon.

Companies disclose little about any of this. But a Wall Street Journal analysis of corporate filings reveals that executive benefits are playing a large and hidden role in the declining health of America's pensions.

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