retirement

Retirement Heist: How Companies Plunder and Profit From the Nest Eggs of American Workers

Author: Ellen E.

Image removed.

 

  • Author: Ellen E. Schultz
  • Publisher: Penguin, 256 pages

 

We’ve all heard of the “retirement savings crisis.” Many Americans aren't socking away nearly as much money as they'll need to retire. But how did this predicament come about? Pulitzer-Prize-winning journalist Ellen E. Schultz minces no words: It was “no demographic accident,” she writes. “It was manufactured by an alliance of two groups: top executives and their facilitators in the retirement industry—benefits consultants, insurance companies, and banks” who helped to engineer the rapid decline of workers’ pensions and benefits. Schultz explores how some companies have slashed benefits to boost their earnings, turned pension plans into cash, and used pension assets to finance downsizings. The C-suite drama is interwoven with powerful stories of real retirees struggling to cope with unexpected benefit cuts. Retirement Heist is essential reading not only for pension participants but also anyone seeking to understand how Americans’ retirement security evaporated.

BUY HERE

 

Visit the Kiplinger Bookshelf

Most Popular

Your Guide to Roth Conversions
Special Report
Tax Breaks

Your Guide to Roth Conversions

A Kiplinger Special Report
February 25, 2021
Can't Sleep at Night? Consider Getting Checked Out By a Doctor
health insurance

Can't Sleep at Night? Consider Getting Checked Out By a Doctor

Older adults are more likely to suffer from sleep disorders, such as insomnia and sleep apnea. Left untreated these conditions can have dire consequen…
May 26, 2021
Midyear Investing Outlook: Where to Invest Now
Kiplinger's Investing Outlook

Midyear Investing Outlook: Where to Invest Now

After a powerful start, stocks will grind higher in the second half of 2021. But watch out for curveballs.
May 23, 2021

Recommended

Invest in a Roth 401(k) If You Can
401(k)s

Invest in a Roth 401(k) If You Can

Workers of all ages can benefit from stashing away after-tax money now in exchange for tax-free withdrawals in the future.
June 11, 2021
5 Key Considerations as You Craft Your Retirement Plan
retirement planning

5 Key Considerations as You Craft Your Retirement Plan

No retirement plan is complete without covering these five key areas.
June 10, 2021
8 Surprising Ways to Prosper From Annuities
annuities

8 Surprising Ways to Prosper From Annuities

You can use a fixed annuity to do more than just generate retirement income. These insurance contracts can also help you give to charity, leave money …
June 3, 2021
401(k)s: 10 Things You Must Know About These Retirement Savings Plans
401(k)s

401(k)s: 10 Things You Must Know About These Retirement Savings Plans

These accounts can be a great way to save for retirement while giving you a tax break now. But beware of the fees plan providers charge for 401(k)s.
June 1, 2021