August 26, 2008: Some corporate executives are paying for their lavish benefits with money from their employees' pension funds.
According to a new article from the Pension Rights Center, this “pension laundering” could hurt the retirement of millions of Americans.
Teamsters who are in multi-employer pension plans don’t have to worry about this pension scam.
But members who are in their employer’s pension fund should pay notice. And all taxpayers could end up footing the bill to bail out company pensions after executives have raided them.
Read the article from the Pension Rights Center.