By Ellen E. Schultz

ISBN-10: 1591843332

ISBN-13: 9781591843337

"'As some distance as i will be certain there's just one resolution [to the CEO's call for to avoid wasting extra money]', the HR consultant wrote to her superiors. 'That often is the demise of all present retirees.'"

It's no mystery that 1000's of businesses were slashing pensions and well-being assurance earned by means of thousands of retirees. Employers blame an getting older staff, inventory industry losses, and spiraling charges- what they name "a ideal storm" of exterior forces that has pressured them to take drastic measures.

yet this so-called retirement difficulty isn't any coincidence. Ellen E. Schultz, award-winning investigative reporter for the Wall road magazine, finds how huge businesses and the retirement industry-benefits specialists, insurance firms, and banks-have all performed an enormous and hidden function within the dying spiral of yankee pensions and merits.
a bit over a decade in the past, such a lot businesses had good enough put aside to pay the advantages earned via generations of employees, irrespective of how lengthy they lived. yet through exploiting loopholes, ambiguous laws, and new accounting ideas, businesses basically became their pension plans into piggy banks, tax shelters, and revenue facilities.

Drawing on unique research of corporation information, govt filings, inner company files, and exclusive memos, Schultz uncovers a long time of common deception in which employers have exaggerated their retiree burdens whereas lobbying for presidency handouts, secretly slicing pensions, tricking staff, and deceptive shareholders. She finds how businesses:
* Siphon billions of bucks from their pension plans to finance downsizings and promote the resources in merger offers
* Overstate the weight of rank-and-file retiree tasks to justify merits cuts whereas at the same time utilizing the mark downs to inflate government pay and pensions
* conceal their turning out to be government pension liabilities, which at a few businesses now exceed the liabilities for the typical pension plans
* buy billions of bucks of existence assurance on employees and use the guidelines as casual government pension money. while the insured employees and retirees die, the corporate collects tax-free dying merits
*Preemptively sue retirees after slicing retiree future health advantages and use different criminal suggestions to erode their felony protections.

Though the point of interest is on huge companies-which force the legislative agenda-the similar video games are being performed at smaller businesses, non-profits, public pensions plans and retirement structures out of the country. neither is this a partisan factor: staff of all political persuasions and source of revenue levels-from managers to miners, seasoned- soccer avid gamers to pilots-have been slammed.

Retirement Heist is a scathing and pressing divulge of 1 of the main serious and least understood crises of our time.

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Additional info for Retirement Heist: How Companies Plunder and Profit from the Nest Eggs of American Workers

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Agents What they can and cannot do for you. An agent is like a car. It gets you from point A to point B with varying degrees of comfort. It needs to be paid for, taxed, insured, serviced, and supplied with gas, and then you have to drive it. It is always there when you want it, but it will not move on its own. It would be nice to believe that once you have an agent, you can sit back and let her do the struggling, the constant looking out for opportunities, and the matching of your abilities to the parts that are on offer; someone to guide and mold your career the way you want it to be.

It is your job then to solve this, and there are as many different ways of doing this as there are actors. Some actors will need to brush up on the text work, others on their background history and story, yet others on the what–how–now technique outlined earlier: whatever works to make the moment come across well, remembering that simple sincerity is often not the answer. SEE also: SCREEN CHEATING The Director Says Again: Directing John Steinbeck’s Of Mice and Men I was horrified when the superb dead puppy made by the prop department completely distracted the audience when Lenny, as scripted, threw it across the stage on the first night.

They were not, you see, being distracted by what they thought was a real dead animal. SEE also: OUTSIDE-IN VERSUS INSIDE-OUT 24 · The Actor’s Survival Handbook First Family Tree: Branch: Twig: Rehearsing Technique BELIEVABILITY Second Family Tree: Performing Branch: Truth Twig: BELIEVABILITY Blowing Your Nose What is this doing in a book about acting? In a performance, you decide your character has to blow its nose—maybe you wish to show that you are emotional or you want to do some gearchanging business.

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Retirement Heist: How Companies Plunder and Profit from the Nest Eggs of American Workers by Ellen E. Schultz


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