Retirement Heist: how companies plunder and profit from the nest eggs of American workers

Medicare Advantage plans

Mercantile Stores

Mercer

pension cutting and

Merck

MetLife Inc.

Meyn, Gerald

Milliman Inc.

Mitchell, Stephen

Montgomery Ward

Motorola Inc.

Mulva, Jim

Mutual Benefit Life Insurance Co.

Nathenson, Eugene

National Association of Insurance Commissioners

National Association of Life Underwriters

National Convenience Stores (NCS)

National Football League (NFL)

Navistar International

Nestlé USA

New England Electric System

New York Times Co.

Nordstrom

Northrop Grumman Corp.

Northwest Airlines

Obama, Barack

Occidental Petroleum

Office of the Comptroller of the Currency

Office of Thrift Supervision

Omnicare

Omnicom

Onan Corp.

Oneida Ltd.

O’Neil, Howard

Pacific Gas & Electric (PG&E)

Pacific Lumber

Pacific State Bancorp

Palmisano, Sam

Palumbo, Frank

Parano, Joseph

Patient Protection and Affordable Care Act (2010)

Payne, William

Peksa, Ed

Pension Benefit Guaranty Corp. (PBGC)

pension equity plans (PEPs)

pension plan assets

benefit cutting and

excesses of

executives and

health plans and

lawsuits involving

retiree portfolios and

returns on

selling of

uses of

pension plan income

executives and

and expected rates of return

impact of contribution amounts on

investments and

mergers and acquisitions in

pension cutting and

pension plans, pension plan benefits:

calculation of

cutting of

deficits of

denial of

eligibility for

employee backlash on

errors in

freezing of

funding of

lawsuits involving

lies and deceptions involving

reporting on

rules on

security of

termination of

underfunding of

volatility of

Pension Protection Act

People’s Energy Corp.

Perelman, Ronald

Per-Se Technologies

Petertil, Jeffrey

Pitney Bowes Inc.

Pittman, Paul

Polster, Dan

Porter, Ken

Post, Glen

prescription drug benefits

cutting of

employer subsidies for

of Medicare

retiree health plans and

PricewaterhouseCoopers (PwC)

Procter & Gamble Co.

Prudential

public pension plans

QSERPs, see Supplemental Retirement Plans, Qualified

Raytheon

reservation-of-rights clauses

restructurings

health plans and

pension assets for

retiree portfolios

health care liabilities of

pension liabilities of

Retirement Systems of Alabama

Revlon

Rexam

Reynolds, Margaret

Rice, Victor A.

RJR Nabisco

Rossman, Liz

Royal & Sun Alliance Co.

R.R. Donnelley

Russell, Elaine

Russo, Patricia

Ruwe, Judge Robert P.

Rydzel, James

Saint-Germain-de-Calberte

St. Joe Co.

Sanders, Bernie

Sauvigne, Donald

Schacht, Henry

Schiltz, Patrick

Scott, H. Lee, Jr.

Sears

Securities and Exchange Commission (SEC)

executive compensation and

Security Life of Denver Insurance Co.

Seidenberg, Ivan

severance payments

of Lucent

pension assets for

Seyfarth Shaw

Shadur, Milton

Shaklee, Albert

Sharpe, George

Shattuck, Mayo

Siegel, David

Singerman, Frederic

SKNL North America BV

Smit, Gerald

Smith, William

Social Security

COLI and

taxes and

Sprague v. General Motors

Sprigg, W. Va.

Stafford, John

State Street Corp.

Stember, John

Stillwagoner, Peggy

stock market:

crises in

pension assets and

stocks, stock options

executive compensation and

in 401(k)s

investing pension assets in

pension income and

Strella, Paul

supplemental executive retirement plans (SERPs)

calculation of

financing of

at Lucent

public pensions and

qualified (QSERPs)

regular workers’ pensions and

reporting on

risks of

rules on

Supreme Court, U.S.

ERISA and

on Varity case

taxes

COLI and

disability benefits and

discrimination issues and

executives and

401(k)s and

health care and

pension assets and

pension funding and

and subsidies for prescription drug benefits

Taylor, Bill

Taylor, Rhada

Teledyne

Tibbs, Don

Tillerson, Rex

Tillman, Felipe M.

Torrie, William

Towers Perrin

pension cutting and

on retiree health plans

Towers Watson

Travelers Insurance Co.

TRW

Ugoretz, Mark

Union Club

unions

dissolving retiree benefits and

excess pension assets and

lawsuits against retired members of

retiree health plans and

Unisys

United Airlines

United Auto Workers

United Parcel Service (UPS)

United Steelworkers of America

Unite Here

Upper Big Branch Mine disaster

US Airways

U.S. Court of Federal Claims

USX–U.S. Steel Group

Valero Energy Corp.

Van Dyke, John

Varity Corporation:

dissolving retiree benefits and

lawsuits and

Project Sunshine of

Verizon Communications

excess pension plan assets of

health care and

Vine, John

Wachovia Corp.

Waldron, Denis

Walker, Lorenzo

Wall Street Journal, The

Wal-Mart

Walt Disney

Washington, Victor

Watson Wyatt Worldwide

on lump-sum payouts

Waxman, Henry

Webster, Mike

Wellman, Jill

Wells Fargo

Western Electric

Lucent and

Whirlpool

Williams, Delvin

Winn-Dixie Stores

workers’ compensation

World Trade Center

Wotus, Stanley

W.R. Grace

Wyeth

Xerox

Yarter, Chuck

Zellers, Mark

1

This court handles disputes between contractors and the government.

2

The question of who owns the surplus assets has provoked numerous lawsuits, but the cases have by and large been resolved in employers’ favor. One of the most significant was Hughes Aircraft Co. v. Jacobson (1999), in which the Supreme Court ruled that employers can use surplus assets even if employees contributed to the plan.

3