Comments on: FDL Book Salon Welcomes Ellen E. Schultz, Retirement Heist: How Companies Plunder and Profit from the Nest Eggs of American Workers

By: Teddy Partridge

Teddy Partridge — Mon, 06 Feb 2012 00:41:22 +0000

Thanks to one and all.

By: realitychecker

realitychecker — Mon, 06 Feb 2012 00:13:11 +0000

Thank you Bev, Ellen, and Dean. Very serious business.

By: bigbrother

bigbrother — Mon, 06 Feb 2012 00:04:38 +0000

Thank you Bev and Ellen. Graft and greed rule.

By: bigbrother

bigbrother — Mon, 06 Feb 2012 00:00:48 +0000

Ca prison workers retire on 85% of pay. So many of these funds are obligated to pay out for 20 years or more that must be many trillions. As the corporate execs look around for a pot of money to steal there is retirement plus many other pots.

By: PeasantParty

PeasantParty — Sun, 05 Feb 2012 23:59:32 +0000

Definitely!

We seldom give Bev the credit she deserves. Her choices are so timely as to be extra sensory.

Bev! Excellent Choices this week and last, well… ALWAYS!

By: Ellen Schultz

Ellen Schultz — Sun, 05 Feb 2012 23:58:35 +0000

There are 44 million people covered by private employer pension plans (active and retired). My guess as to what will happen:

1) Some companies will keep their pension plans, because they realize that it’s cheaper to provide some of compensation in the form of a pension, than it is with current wages. This will probably be more common with union plans.

2) Companies with frozen plans will wait until interest rates rise, which will cause the plans to be better funded. They’ll then terminate the plans and extract the surplus, or keep the frozen plan in place and use the excess assets for a variety of corproate purposes, not least of which is using the investment returns to offset the cost unfunded executive pensions.

3) Unhealthy companies with frozen or unfrozen plans will stop contributing to the plans, and dump them in bankruptcy.

) Public employee pensions will for the most part survive the current assault, though future benefits will be reduced.

By: PeasantParty

PeasantParty — Sun, 05 Feb 2012 23:57:52 +0000

Ellen,

Thank you so much. I look forward to reading the book and learning from all your work and research.

Free Market My Arse!

I hope to find out how the new and improved Global Corporations are working these things out as well.

By: DWBartoo

DWBartoo — Sun, 05 Feb 2012 23:56:54 +0000

Thank you, Bev, as always, excellent, stellar choices, and most pleasant company, you arrange for these Book Salons.

It is VERY much appreciated.

By: bigbrother

bigbrother — Sun, 05 Feb 2012 23:56:03 +0000

Does anyone have the numbers?

By: DWBartoo

DWBartoo — Sun, 05 Feb 2012 23:54:55 +0000

This has been a most-fascinating and instructive Book Salon, Ellen and Dean, and, in all seriousness, very much appreciated.

Thank you, both, very much, for spending time with us.