Retirement Heist

Book cover of Retirement Heist: How Companies Plunder and Profit from the Nest Eggs of American Workers

Book description

Winner of the 2012 Helen Bernstein Book Award for Excellence in Journalism

Hundreds of companies have slashed pensions and health coverage for millions of retirees, claiming that a “perfect storm” of stock market losses, aging workers, and spiraling costs have forced them to take drastic measures.

But this so-called retirement…

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Why read it?

1 author picked Retirement Heist as one of their favorite books. Why do they recommend it?

James W. Russell

Author

Retirement Heist is a tour de force. It is a book to make you informed and angry about why pension plans are disappearing in the private sector. In a few words, according to former Wall Street Journal investigative reporter Schultz, it was because corporations took financially healthy pension plans and diverted their surpluses to other uses to inflate their bottom lines. They then ended the plans when they inevitably became financially weaker, substituting them for 401(k)s that do not produce near as much retirement security.

From James' list on retirement plans if you don’t trust Wall Street.