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Executives Retire in Style While Leaving
Workers out to
Dry | |
Executives are making off with millions in unfair pay and
retirement packages while employees face retirement insecurity.
Tell the SEC to curtail executive compensation abuse by
strengthening disclosure rules.
And check out our all-new Executive
PayWatch website to learn more about abusive
executive pay and retirement
packages. | | |
Dear Working Families e-Activist,
In the past few years, working families have seen their
retirement security go up in smoke. But in the same period,
corporate CEOs have gotten enormous new retirement packages
worth millions a year.
Too often, executives’ compensation packages have
little to do with the performance of the companies they lead.
And while executives are required to report their pay to the
U.S. Securities and Exchange Commission (SEC), they often try to
hide the true amounts behind complex accounting tricks.
But now we can act to help stop this abuse. The SEC is
considering new rules that would force companies to describe
executive compensation packages in plain English and require
them to estimate the total dollar value of all the pay. Send a
message to the SEC today and tell them you support the new pay
disclosure rules.
Click Here to
Take Action
We’ve all read the stories. A company lays off workers,
forces employees to accept lower pay or fewer benefits or guts
its pension plan. Then you find out the executives running the
company are making off with millions of dollars a year.
For example, Samuel J. Palmisano, CEO of IBM—which
announced it’s freezing workers’ pensions—will
collect about $4 million a year when he retires. And Pfizer CEO
Henry A. McKinnell—who chairs the organization called
Business Roundtable, which led the fight to privatize Social
Security—will earn more than $6.5 million per year during
retirement.
Our newly updated Executive
PayWatch website tells the full story of executive
compensation abuse. This year, we are taking a close look at the
outrageous retirement plans executives give themselves while
their workers wonder if they’ll have a secure retirement.
Be sure to check out the AFL-CIO Executive
PayWatch website for case studies on the ridiculous
retirement packages of executives at companies like UnitedHealth
Group, Exxon Mobil and The Home Depot.
And then take action to stop executive compensation abuse by
writing the SEC in support of new disclosure rules that will
stop corporations from masking their executives’ pay
packages with accounting tricks.
http://www.unionvoice.org/campaign/paywatch
Thank you for all you do.
In solidarity,
Working Families e-Activist Network, AFL-CIO | 
