“Fix the Debt” CEOs hold an average of $9 million each to put toward retirement
 
By Sarah Anderson and Scott Klinger. Contributors include Brent Soloway - Institute for Policy Studies

Washington DC — A new report by the Institute for Policy Studies examines CEOs of public companies who have endorsed the “Fix the Debt” campaign. The report, “Pension Deficit Disorder: The Massive CEO Retirement Funds and Underfunded Worker Pensions at Firms Pushing Social Security Cuts,” finds that these CEOs, while calling for ordinary Americans to take cuts in Social Security and Medicare, are sitting on an average of $9 million each in retirement funds. Most are also running large deficits in their own employees’ pension funds.
 
“These CEOs paint a stark picture of hypocrisy,” said Scott Klinger, a report co-author. “They are feathering their own retirement nests while trying to deny ordinary Americans — including their own employees — their hard-earned nest eggs. They’re simply taking advantage of the so-called ‘fiscal cliff’ to push the same old agenda of more corporate tax breaks while shifting costs onto the poor and elderly.”
 
The report focuses on the CEOs of major U.S. corporations who have endorsed the “Fix the Debt” campaign, which is currently conducting a nationwide advertising blitz to promote their solutions for the country’s fiscal ills ... more