Seventy-one major American corporations have united in a "Fix the Debt" campaign. The CEOs of these companies have an average of $9,000,000 in their company-funded retirement plan. Twelve of these CEOs have more than $20,000,000 in their accounts; Honeywell's CEO has $78,000,000 in his account. The bosses are doing well.
How are the employees doing with regard to their retirement? Forty-one of these 71 companies offer employee pension funds. Of
these, only two have sufficient assets in their funds to meet expected
obligations. The rest have combined deficits of $103 billion, or about
$2.5 billion on average. General Electric has the largest deficit in its
worker pension fund, with $22 billion.
The attitude of these CEOs seems to be "I'm doing well. Tough darts you're not." This attitude is also seen in the campaign's push to cut Social Security and Medicare.
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