Skip to main content

How 100 CEOs Equal 50 Million Families

At a time when most Americans do not have enough saved for a secure retirement, we now learn that the top 100 CEOs have as much retirement assets as 41 percent of all American families. The retirement gap between CEOs and workers “is a lot bigger than the pay gap and one more indicator of the extreme level of inequality that is really tearing the country apart,” the author of a new report says.
By Clyde Weiss ·
How 100 CEOs Equal 50 Million Families
Source: Center for Effective Government and Institute for Policy Studies

CEOs are not like you and me. A shocking new study shows just how big that gap really is: The top 100 CEOs have as much retirement assets as 41 percent of all American families – that’s 50 million!

A Tale of Two Retirements, a new report by the Center for Effective Government and Institute for Policy Studies, shows what happens when America’s economy gets so out of balance that it benefits only the top 1 percent at the expense of everyone else.

10 Largest CEO Retirement Funds
Source: Center for Effective Government and Institute for Policy Studies

In a Bloomberg interview, Sarah Anderson, co-author of the report, said the retirement gap between CEOs and workers “is a lot bigger than the pay gap and one more indicator of the extreme level of inequality that is really tearing the country apart.”

The report’s authors, who reviewed SEC filings of publicly held Fortune 500 firms, found:

As appalling as these key findings are, even more disgraceful is that “nearly half of all working-age Americans have no access to any retirement plan at work,” the report said. “The median balance in a 401(k) plan at the end of 2013 was $18,433, enough to generate a monthly retirement check of $104.”

This new report reaffirms what we’ve previously reported – that most Americans do not have enough saved for a secure retirement. That’s why AFSCME members and retirees are fighting to preserve public pensions, which are increasingly under attack by corporate- backed lawmakers, and Social Security, which many older Americans depend on almost exclusively.

Related Posts