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View Diary: $6.6 Trillion Retirement Savings Deficit Shows 401(k)'s No Replacement for Pensions (47 comments)

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  •  I'm fairly confident (17+ / 0-)

    that there are plenty of "Executive Pension Schemes" that are working just fine!

    "It's the rich, that gets the pleasures,
    It's the poor, that gets the blame,
    It's the same, the whole world over,
    Ain't it all, a fucking shame"

    I hope that the quality of debate will improve,
    but I fear we will remain Democrats.

    Who is twigg?

    by twigg on Fri Jan 25, 2013 at 05:17:44 PM PST

    [ Parent ]

    •  Re (0+ / 0-)

      There are too few executives to matter. Pension insolvencies happen because there are too many people.

      (-5.50,-6.67): Left Libertarian
      Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

      by Sparhawk on Fri Jan 25, 2013 at 10:02:29 PM PST

      [ Parent ]

      •  Not so sure. (1+ / 0-)
        Recommended by:
        Odysseus

        One million a year is pretty much rock-bottom salary for an executive these days.  But one salary at $1 million is equal to 40 order clerks (doing the actual work) at $25K.  Now figure that most execs make at least 10 million.  Suddenly you have a 400-clerk call center.  So it looks to me like the money spent on one high-rolling executive is pretty much the entire operational cost of a reasonable-sized money-churner.  And all the execs do, is act as pimp and bully-boy for the company.  They Sell, they glad-hand, they Look Good In Public and they beat everyone below them bloody, psychologically speaking.

        It does give you some insight into what our society actually values, in a practical sense.  The abilities to lie and to dominate others are very well-recompensed.

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