- Jul 14, 2011
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Much More: How Companies Plunder and Profit from the Nest Eggs of American Workers | Books | AlterNetBy Ellen Schultz
How Companies Plunder and Profit from the Nest Eggs of American Workers
What really happened to the retirement benefits of millions of Americans at thousands of companies.
The following is an excerpt from Retirement Heist: How Companies Plunder and Profit from the Nest Eggs of American Workers by Ellen Schultz - Powell's Books
But despite the rules protecting pension funds, U.S. companies siphoned billions of dollars in assets from their pension plans.
The retirement industry has exported its tactics, using them to achieve similar outcomes in retirement plans in Canada, Europe, Australia, and elsewhere, and has big plans for Social Security and its overseas equivalents as well. Unless it is reined in, the global retirement industry will continue to capture retirement wealth earned by many to enrich a relative few.