Retirement Heist

“‘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.

 

Sailing

6 thoughts on “Retirement Heist

  1. Oh, my! A must read. I was fortunate to retire when retirement packages were freely given and were increased according the current cost of living. Then, I got a letter to advise that the cost of living increase would be discontinued because of the existing financial problems in the world. I am glad t still get my pension! Good for Ellen Schultz–retirees need a voice.

    Like

    • I agree wholeheartedly. One of my co-workers was always checking the annual report for pension news. I thought it was a waste of his time. Seems that it was time well spent….

      Like

    • I enjoyed reading your review because it mirrored my feelings. Pensions are so complex that most people don’t know what to look out for. People want to be loyal and want to believe that their company has their best interests at heart. Like you, I was impressed by her attention to detail and her search for the truth. Thank you for stopping by – very much appreciated.

      Like

  2. Oh dear, it looks as though : “wrong comes up to face us everywhere” in Christopher Fry’s words.. we can only take comfort in the next phrase when he says, ” never to leave us till we take the longest stride of soul men ever took”..
    It sounds painful read abut a subject most of us put our trust in….

    Like

    • It was painful to read and I took several breaks. If you read some of the comments on Goodreads you will see a recurrent theme of angst. Ellen Shultz stayed true to prudent research protocol. A wonderful quote, Valerie. One that I have added to my favorites.

      Like

Comments are closed.