Pensions in Crisis: Why the System is Failing America and How You Can Protect Your Future PDF Download
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Author: Karen Ferguson
Publisher: Simon and Schuster
ISBN: 1628720433
Category : Business & Economics
Languages : en
Pages : 305
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Book Description
Telling readers what they need to know now to protect their pensions, two pension experts and reform advocates reveal the pitfalls in the system, ask disturbing questions, and offer valuable advice to protect retirement income.
Author: Karen Ferguson
Publisher: Simon and Schuster
ISBN: 1628720433
Category : Business & Economics
Languages : en
Pages : 305
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Book Description
Telling readers what they need to know now to protect their pensions, two pension experts and reform advocates reveal the pitfalls in the system, ask disturbing questions, and offer valuable advice to protect retirement income.
Author: Ellen E. Schultz
Publisher: Penguin
ISBN: 1101446072
Category : Political Science
Languages : en
Pages : 287
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Book Description
"'As far as I can determine there is only one solution [to the CEO's demand to save more money]', the HR representative wrote to her superiors. 'That would be the death of all existing retirees.'" It's no secret that hundreds of companies have been slashing pensions and health coverage earned by millions of retirees. Employers blame an aging workforce, stock market losses, and spiraling costs- what they call "a perfect storm" of external forces that has forced them to take drastic measures. But this so-called retirement crisis is no accident. Ellen E. Schultz, award-winning investigative reporter for the Wall Street Journal, reveals how large companies and the retirement industry-benefits consultants, insurance companies, and banks-have all played a huge and hidden role in the death spiral of American pensions and benefits. A little over a decade ago, most companies had more than enough set aside to pay the benefits earned by two generations of workers, no matter how long they lived. But by exploiting loopholes, ambiguous regulations, and new accounting rules, companies essentially turned their pension plans into piggy banks, tax shelters, and profit centers. Drawing on original analysis of company data, government filings, internal corporate documents, and confidential memos, Schultz uncovers decades of widespread deception during which employers have exaggerated their retiree burdens while lobbying for government handouts, secretly cutting pensions, tricking employees, and misleading shareholders. She reveals how companies: Siphon billions of dollars from their pension plans to finance downsizings and sell the assets in merger deals Overstate the burden of rank-and-file retiree obligations to justify benefits cuts while simultaneously using the savings to inflate executive pay and pensions Hide their growing executive pension liabilities, which at some companies now exceed the liabilities for the regular pension plans Purchase billions of dollars of life insurance on workers and use the policies as informal executive pension funds. When the insured workers and retirees die, the company collects tax-free death benefits Preemptively sue retirees after cutting retiree health benefits and use other legal strategies to erode their legal protections. Though the focus is on large companies-which drive the legislative agenda-the same games are being played at smaller companies, non-profits, public pensions plans and retirement systems overseas. Nor is this a partisan issue: employees of all political persuasions and income levels-from managers to miners, pro- football players to pilots-have been slammed. Retirement Heist is a scathing and urgent expose of one of the most critical and least understood crises of our time.
Author: Geeta Patel
Publisher: University of Washington Press
ISBN: 029574250X
Category : Social Science
Languages : en
Pages : 389
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Book Description
Risky Bodies and Techno-Intimacy traverses disparate and uncommon routes to explore how people grapple with the radical uncertainties of their lives. In this edgy, evocative journey through myriad interleaved engagements—including the political economies of cinema; the emergent shapes taken by insurance, debt, and mortgages; gender and sexuality; and domesticity and nationalism—Geeta Patel demonstrates how science and technology ground our everyday intimacies. The result is a deeply poetic and philosophical exploration of the intricacies of techno-intimacy, revealing a complicated and absorbing narrative that challenges assumptions underlying our daily living.
Author: Timothy W. Vanderburg
Publisher: Univ. of Tennessee Press
ISBN: 1621900274
Category : History
Languages : en
Pages : 297
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Book Description
Cannon Mills was once the country’s largest manufacturer of household textiles, and in many ways it exemplified the textile industry and paternalism in the postbellum South. At the same time, however, its particular brand of paternalism was much stronger and more enduring than elsewhere, and it remained in place long after most of the industry had transitioned to modern, bureaucratic management. In Cannon Mills and Kannapolis, Tim Vanderburg critically examines the rise of the Cannon Mills textile company and the North Carolina community that grew up around it. Beginning with the founding of the company and the establishment of its mill town by James W. Cannon, the author draws on a wealth of primary sources to show how, under Cannon’s paternalism, workers developed a collective identity and for generations accepted the limits this paternalism placed on their freedom. After exploring the growth and maturation of Cannon Mills against the backdrop of World War I and its aftermath, Vanderburg examines the impact of the Great Depression and World War II and then analyzes the postwar market forces that, along with federal policies and unionization, set in motion the industry’s shift from a paternalistic model to bureaucratic authority. The final section of the book traces the decline of paternalism and the eventual decline of Cannon Mills when the death of the founder’s son, Charles Cannon, led to three successive sales of the company. Pillowtex, its final owner, filed for bankruptcy and was liquidated in 2003. Vanderburg uses Cannon Mills’s intriguing history to help answer some of the larger questions involving industry and paternalism in the postbellum South. Complete with maps and historic photographs, this authoritative, highly readable account of one company and the town it created adds a captivating layer of complexity to our understanding of southern capitalism.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 110
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Book Description
Author: United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Employer-Employee Relations
Publisher:
ISBN:
Category : Law
Languages : en
Pages : 100
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Book Description
Author: John A. Turner
Publisher: W.E. Upjohn Institute
ISBN: 0880992832
Category : Collective bargaining
Languages : en
Pages : 208
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Book Description
Examines the current state of workers' freedom to form unions and bargain collectively and looks at the obstacles facing America's workers who seek to organize into unions in the 21st century.
Author: Teresa Ghilarducci
Publisher: Columbia Business School Publi
ISBN: 9780231185646
Category : Business & Economics
Languages : en
Pages : 166
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Book Description
In Rescuing Retirement, Teresa Ghilarducci and Tony James offer a comprehensive yet simple plan to help workers save for retirement, increase retirement savings by earning higher returns, and guarantee lifelong income for everyone. It offers a practical guide to the future of secure retirement.
Author: Charles D. Ellis
Publisher: Oxford University Press
ISBN: 0190218916
Category : Business & Economics
Languages : en
Pages : 169
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Book Description
The United States faces a serious retirement challenge. Many of today's workers will lack the resources to retire at traditional ages and maintain their standard of living in retirement. Solving the problem is a major challenge in today's environment in which risk and responsibility have shifted from government and employers to individuals. For this reason, Charles D. Ellis, Alicia H. Munnell, and Andrew D. Eschtruth have written this concise guide for anyone concerned about their own - and the nation's - retirement security. Falling Short is grounded in sound research yet written in a highly accessible style. The authors provide a vivid picture of the retirement crisis in America. They offer the necessary context for understanding the nature and size of the retirement income shortfall, which is caused by both increasing income needs-due to longer lifespans and rising health costs-and decreasing support from Social Security and employer-sponsored pension plans. The solutions are to work longer and save more by building on the existing retirement system. To work longer, individuals should plan to stay in the labor force until age 70 if possible. To save more, policymakers should shore up Social Security's long-term finances; make all 401(k) plans fully automatic, with workers allowed to opt out; and ensure that everyone has access to a retirement savings plan. Individuals should also recognize that their house is a source of saving, which they can tap in retirement through downsizing or a reverse mortgage.
Author: Paul Collier
Publisher: HarperCollins
ISBN: 0062748661
Category : History
Languages : en
Pages : 369
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Book Description
Bill Gates's Five Books for Summer Reading 2019 From world-renowned economist Paul Collier, a candid diagnosis of the failures of capitalism and a pragmatic and realistic vision for how we can repair it. Deep new rifts are tearing apart the fabric of the United States and other Western societies: thriving cities versus rural counties, the highly skilled elite versus the less educated, wealthy versus developing countries. As these divides deepen, we have lost the sense of ethical obligation to others that was crucial to the rise of post-war social democracy. So far these rifts have been answered only by the revivalist ideologies of populism and socialism, leading to the seismic upheavals of Trump, Brexit, and the return of the far-right in Germany. We have heard many critiques of capitalism but no one has laid out a realistic way to fix it, until now. In a passionate and polemical book, celebrated economist Paul Collier outlines brilliantly original and ethical ways of healing these rifts—economic, social and cultural—with the cool head of pragmatism, rather than the fervor of ideological revivalism. He reveals how he has personally lived across these three divides, moving from working-class Sheffield to hyper-competitive Oxford, and working between Britain and Africa, and acknowledges some of the failings of his profession. Drawing on his own solutions as well as ideas from some of the world’s most distinguished social scientists, he shows us how to save capitalism from itself—and free ourselves from the intellectual baggage of the twentieth century.
