“‘As far as I can determine there is only one solution [to the CEO’s demand to save more money]’, the HR representative wrote to her superiors.’That would be the death of all existing retirees.'”
Ellen Shultz, excerpt from Retirement Heist
It’s got a catchy title – Retirement Heist.
Now take a second look – Retirement Heist: How Companies Plunder and Profit from the Nest Eggs of American Workers.
I first heard about Ellen Schultz, an award-winning investigator reporter for the Wall Street Journal and author of Retirement Heist, when she was interviewed by Jon Stewart. Her arguments were compelling; her resolve impervious to any who would challenge her findings. Indeed, there have been responses from at least one of the named corporations, but her refutations have been swift and candid. She is a woman on a mission. Her message is direct and unambiguous. Corporations have deliberately deceived their employees and Congress to profit from worker’s pensions.
Think the worst and it is even worse than you can even imagine. This is not a book that you can read during one sitting because of the emotional drain that comes from reading the stories of men and women who have given the best to their companies. But it is a book that must be read, remembered, discussed and understood.
Ellen Shultz is brilliant. In fact, she received the 2012 Helen Bernstein Book Award for Excellence in Journalism for Retirement Heist. Her acknowledgements at the end of the book were poignant and generous. She praised the remarkable people who continue to work tirelessly to save the pensions of literally thousands of seniors.
I read Retirement Heist from cover to cover, marveling at the detailed research that went into every page. This is Ellen Shultz’s labour of love and compassion.