Feb 02, 2012
5:00 PM (GMT-8)
Tune in here: Firedoglake
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.