If You Think The Bonuses Are Bad, Look At The Executive Retirement Plans

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	If You Think The Bonuses Are Bad, Look At The Executive Retirement Plans

Anomaly100

3-24-2009 3:09 PM

151 views

tags:

aig, greedy pigs, bonuses, executive retirement plans

Anomaly100 says:

Their greed shows no bounds. Just how much money does a person need. I know they are good at what they do, after all, look at the proof. The banks are thriving....oh, wait..! Whoops.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/a72c3b09-d24c-415d-a9da-6005367b15c8/CB1B5245-400E-4D8F-B992-ADAD8EB9AA53/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://crooksandliars.com/susie-madrak/you-think-bonuses-were-bad-take-look-" href="http://crooksandliars.com/susie-madrak/you-think-bonuses-were-bad-take-look-" style="font-size: 11px;">crooksandliars.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://crooksandliars.com/susie-madrak/you-think-bonuses-were-bad-take-look-"><P>The rich, they are different <A href="http://www.boston.com/news/local/massachusetts/articles/2009/03/21/financial_services_executives_reap_big_retirement_benefits/">from you and me:</A></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://crooksandliars.com/susie-madrak/you-think-bonuses-were-bad-take-look-">The furor over bonuses for some employees at AIG International Group has focused public attention on the sizable checks employees received at firms that were bailed out by the federal government</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://crooksandliars.com/susie-madrak/you-think-bonuses-were-bad-take-look-"> <STRONG>Less noticed, though, are the rich retirement benefits. That's partly because firms only recently began to disclose the value of executive retirement benefits in their annual proxy statements, which are filed this time of year ahead of yearly shareholder meetings.</STRONG></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://crooksandliars.com/susie-madrak/you-think-bonuses-were-bad-take-look-">the average additional value in 2008 to a chief executive's retirement plan was $1.23 million,</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://crooksandliars.com/susie-madrak/you-think-bonuses-were-bad-take-look-">In 2007, the average was $1.38 million.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://crooksandliars.com/susie-madrak/you-think-bonuses-were-bad-take-look-"><P>Some compensation specialists say the executives' sums are far more than what any individual needs for retirement.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://crooksandliars.com/susie-madrak/you-think-bonuses-were-bad-take-look-"><STRONG>"Retirement packages are supposed to help you if you're unable to save for retirement.</STRONG> I don't believe any of these guys could have spent all the cash they've earned in their careers as CEOs," said Paul Hodgson, senior researcher</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/CB1B5245-400E-4D8F-B992-ADAD8EB9AA53/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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