AFL-CIO NOW BLOG | Jobs Picture Worsens. We Can Do Something About It

AFL-CIO NOW BLOG | Jobs Picture Worsens. We Can Do Something About It: "Great economic news out this week—if you’re an excessively paid CEO. Seems some corporations are “quietly converting their pension plans into resources to finance their executives’ retirement benefits and pay.” This from The Wall Street Journal (subscription required):

In recent years, companies from Intel Corp. to CenturyTel Inc. collectively have moved hundreds of millions of dollars of obligations for executive benefits into rank-and-file pension plans. This lets companies capture tax breaks intended for pensions of regular workers and use them to pay for executives’ supplemental benefits and compensation."