February 5, 2012
Retirement Heist: How Companies Plunder and Profit from the Nest Eggs of American Workers
5 p.m. ET/2 p.m PT.
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. In the new book, Retirement Heist, 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. CEPR Co-Director Dean Baker hosted a book salon on Firedoglake with Schultz.