Retirement Heist: How Companies Plunder and Profit From the Nest Eggs of American Workers
Author: Ellen E.

- 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.
Visit the Kiplinger Bookshelf

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
-
Is Indulging Your Vice Putting Your Retirement at Risk?
From alcohol to gambling, adults spend a lot of money pursuing their vices, but are they jeopardizing their retirement nest eggs?
By Donna Fuscaldo Published
-
Stock Market Today: Investors Respond to the Usual Uncertainty
Stocks surged late but the major indexes closed mixed as the search for market leadership continues.
By David Dittman Published
-
Five Books About Retirement to Prepare You for Your Golden Years
These books about retirement will help prepare you for your next stage through fiction and nonfiction. What's more, they are great reads!
By Jacob Schroeder Last updated
-
'A Random Walk Down Wall Street' at 50
Interview 'A Random Walk Down Wall Street': 50 years on Burton Malkiel, author of the investing classic, remains a champion of index investing.
By Kim Clark Published
-
Hillbilly Elegy
business Author: J.D.
By Mark Solheim Published
-
The Big Short
business Publisher: Norton, W.
By Miriam Cross Published
-
Dark Money: The Hidden History of the Billionaires Behind the Rise of the Radical Right
Markets Have a massive fortune, political vision, and no idea how to pull the two together? Jane Mayer’s Dark Money may be the summer read for you.
By Brendan Pedersen Published
-
The Undoing Project: A Friendship That Changed Our Minds
Investor Psychology Traditional economic theory holds that people act in their best interests, particularly where money is concerned.
By Sandra Block Published
-
Chain of Title: How Three Ordinary Americans Uncovered Wall Street's Great Foreclosure Fraud
Markets Their names are Lisa Epstein, Michael Redman, and Lynn Szymoniak.
By Mary Kane Published
-
Steve Jobs
Technology This deep dive into the life and mind of Steve Jobs is enthralling, a great read all the way to the last page.
By John Miley Published