Ellen Schultz - Retirement Heist

209 reducing borrowing costs by as much as 40 percent:Analysis by Theo Francis; Ellen E. Schultz and Theo Francis, “Companies’ Hot Tax Break: 401(k)s—Why Firms Stuff Plans with Stock,” The Wall Street Journal , February 11, 2002.

210 fifty million workers lost a total of at least $1 trillion in their 401(k)s:Center on Retirement Research, Boston College.

210 D’Andrea, forty-eight, cashed out her account:Author interview.

210 one-quarter of top executives at major U.S. companies had gains :Analysis by Tom McGinty, based on Compustat data; Ellen E. Schultz and Tom McGinty, “Executives Enjoy ‘Sure Thing’ Retirement Plans, The Wall Street Journal, December 16, 2009.

211 “executives in fixed plans were happier than hogs”:Bob Nienaber, director, benefit RFP, Sacramento, California, telephone conversation with author.

214 In the public plan sector:For a history and analysis of how public plans can become seriously underfunded, see Roger Lowenstein, While America Aged: How Pension Debts Ruined General Motors, Stopped the NYC Subways, Bankrupted San Diego, and Loom as the Next Financial Crisis (New York: Penguin Press, 2008). See also Mary Williams Walsh’s extensive coverage of public pensions in The New York Times .

AARP

accounting issues

health plans and

investing pension assets and

pension income and

see also Financial Accounting Standards Board

ACF Industries

Ackerman, Chuck

Actuarial Sciences Associates (ASA)

Advantage Medical Services (AMS)

Aetna

Aging Diagnostic

Air Transportation Stabilization Board

Alcatel SA

Allied-Signal

Alltel Corp.

Amara, Janice

Amegy Bank

American Benefits Council

American Council of Life Insurers

American Electric Power

American Greetings

American National Can

American Society of Pension Actuaries

Amoco Corp.

Aon Corp.

Archer, Bill

Asarco

AT&T

excess pension assets of

health care reform and

Lucent and

pension cutting at

prescription drug benefits at

Automatic enrollment

Bankers Life and Casualty

Bank of America

BOLI at

bank-owned life insurance (BOLI)

banks

Beisler, Randy

Bell Atlantic Corp.

benefits test

Bert Bell/Pete Rozelle NFL Player Retirement Plan

Black, Conrad

black lung disease plans

Blankenship, Don

Boeing

BP

Brown, Kyle

Bruggeman, Jim

Buffett, Warren

Bureau of Labor Statistics

Burke, Stephen

Bush, George W.

Byrne, Robert S.

California Public Utilities Commission

Carlson, Gretchen

cash-balance plans

comparisons between 401(k)s and

lump-sum feature of

in pension cutting

CAST Management Consultants

Caterpillar Inc.

Centers for Medicare & Medicaid Services

Central and South West (CSW)

CenturyTel

Certner, David

Chapman, Basil

Chesapeake Energy

Ciesielski, Jack

Cigna:

pension cutting at

Supreme Court case involving

Citigroup Inc.

Clark, Richard T.

Clark/Bardes

Clausen, Norman

CM Holdings

Comcast

Congress, U.S.

COLI in

ERISA in

executive compensation in

health care reform in

pension assets in

pension cutting in

pension disclosure in

prescription drug benefits in

ConocoPhillips

Conseco

Consol Energy

Consolidated Freightways Corp. (CFC)

Constellation Energy

Continental Can

corporate-owned life insurance (COLI)

BOLI and

as cash-value policies

death benefits of

death rates and

disclosure on

executive liabilities and

in funding retiree benefits

insurable interest issue in

lawsuits on

on middle managers

obtaining employees’ consent for

payouts of

rules on

coverage test

Covington & Burling

Craven, Charlie

Crown Cork & Seal

Cummins Inc.

Cyprus Mines

D’Andrea, Jacqueline

Darbee, Peter

Daugherty, Elmer

death audits

death benefits

of COLI

cutting of

Lucent and

“Death Run,”

Deere & Co.

Defense Department, U.S.

in lawsuit with GE

deferred compensation, deferred-compensation plans

COLI and

executive compensation and

financing of

401(k)s and

retiree benefits as

risks of

rules on

defined benefit plans

defined contribution plans

comparisons between cash-balance plans and

Dell

Deloitte & Touche

Delphi

Delta Air Lines

dental coverage

cutting of

detrimental reliance standard

Diebold

Dillard’s Inc.

disability benefits

denial of

lawsuits on

rules on

discrimination

executive liabilities and

401(k)s and

against lower-paid employees

Dolan, Jack

Dow Chemical

D’Souza, Julia

DuPont

early-retirement subsidies

lump-sum payouts and

pension assets for

pension cutting and

retiree health plans and

Edison Brothers Stores

Eggleston, Robert

Ehmer, Walt

Ell, Douglas

Emley, Ruth

Employee Retirement Income Security Act (ERISA)

disability benefits and

pension assets and

pension disclosure rules and

punitive damages and

retiree health plans and

employee stock ownership plans (ESOPs)

Enron

ERISA Advisory Council

executive liabilities

COLI and

discrimination issue and

financing of

health benefits and

risks in

shadow plans for

valuation of

executives

bonuses of

COLI on

compensation of

dissolving retiree benefits and

employee pension cutting and

401(k)s and

health benefits and

pension assets and

pension income and

pensions of, see supplemental executive retirement plans

ExxonMobil

Falk, William

Fannie Mae

Federal Deposit Insurance Corp.

FICA

Fidelity Investments Institutional Operations Co.

Financial Accounting Standards Board (FASB)

FAS 87 and

FAS 106 and

on retiree health plans

Finlay, Dave

Fletcher, Mary

Florida Power & Light

Ford, Scott

Ford Motor Co.

Foundation Coal Corp.

401(k) plans

cash-balance plans and

cutting employer contributions to

deferred-compensation and

discrimination issues and

ESOPs and

executives and

inadequacies of

investments in

pension cutting and

risks of

420 transfers

Fox News

Freeborn, Justin

Frias, Gonzalo

Fruehauf Trailer Corp.

Galloway, John Wesley

Gebhardtsbauer, Ron

Gemunder, Joel

GenCorp

General Electric (GE)

excess pension assets of

executive compensation at

lawsuit involving

General Motors (GM)

executive compensation at

lawsuits involving

pension income of

retiree health benefits at

Gerstner, Louis V., Jr.

Glass, Dennis

Goldman Sachs

Goodyear Tire & Rubber

Great Atlantic & Pacific Tea Co.

Green, Gene

Greene, William Britton

Grogan, Donald