One hundred leaders of US firms have equal pensions to those 50 million homes in the United States, almost half the families in the country, says a study by two think tanks released Wednesday.
In total, the nest egg of 100 US patrons enjoying the largest pension funds totaled $ 4.9 billion, enough to accommodate nearly 280 thousand dollars a month “until the end of their lives,” calculated the Center for Effective Government and the Institute for Policy Studies.
This amount is equivalent to money saved for their pensions by 116 million poorest Americans believe these two progressive think tanks.
“These wool socks are not the result of CEOs working harder or investing more wisely. They just rules deliberately designed to reward those already at the top of the ladder, “says the report, which sees a new sign of inequality in the United States.
Young employees and face the greatest difficulties in saving for their pensions, due to the lack of jobs and solid weight “staggering” debts incurred for their studies, indicate the two focus groups.
According to their study, the major US employers have seen their pensions swell in favor of a special provision that allows them not to pay taxes on the savings for their old age.
No limit is imposed on them as employees lambda older than 50 years are limited to $ 24,000 per year, says the document.
The study particularly the finger tip David Novak, CEO and executive chairman of YUM Brands (Pizza Hut, KFC, Taco Bell …) who wins the prize with a more than $ 234 million pension when hundreds of its employees have “no retreat,” says the report.
Contacted by AFP, the group justifies the amount of the retirement of its leader by his record during 29 years in the company. The action YUM “has appreciated 900% under his leadership,” said a spokesman Jonathan Blum.
The group also provides help its employees by paying 6% a dollar for every dollar they put into a retirement fund.