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

An award-winning journalist exposes how corporations manipulate retirement plans for their benefit

It's no secret that hundreds of companies, from GM to IBM, have been slashing pensions and health coverage for millions of retirees. Employers blame an aging workforce, global competition, and spiraling costs. But the so-called retirement crisis is no demographic accident- corporations have played a significant and hidden role in the death spiral of pensions and benefits.

Award-winning Wall Street Journal reporter Ellen E. Schultz draws back the curtain on one of the biggest yet least understood scandals in decades, one that affects millions of workers and retirees and will leave its mark for generations to come. She shows how comA-panies plundered billions from their pension plans, then exaggerated costs to justify cutting benefits. The maneuvers essentially shifted billions of dollars from workers and retirees to executives and stockholders.

Schultz's findings will astound-and anger-readers. This is a must-read for everyone concerned about their financial future and sick of the greed and mismanagement that hurt every American.