PRIVATE PENSIONS: Sponsors of 10 Underfunded Plans Paid Executives Approximately $350 Million in Compensation Shortly Before Termination

Kutz, Gregory D.
November 2009
GAO Reports;10/19/2009, preceding p1
Government Documents
The article focuses on a study done by the U.S. Government Accountability Office (GAO) to determine the pay and other compensation received by executives in the years preceding their company's termination of an underfunded defined benefit pension plan. It reports on the findings of GAO which identified salaries, bonuses and benefits provided to the high-ranking executives of public companies and interviewed the Pension Benefit Guaranty Corp. (PBGC) and company officials.


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