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| fiction, drummers tools, children, john craven, weigh, live jazz, email, restaurant, office software, hawtin, garfield catalog, personal finance investing, the cat, comics & graphic novels, | the spoilsProtected plans. Delta kids safe Air Lines successfully pushed its pilots into agreeing to $1 billion in wage, benefit and pension cuts to help stave off bankruptcy. At the same time, the airline moved the pensions of its top executives into trusts that would preserve the funds in case of a Chapter 11 filing.At most companies, kids safe the pension money would have remained a corporate asset -- and subject to seizure by creditors. Transferring the money to the bankruptcy-proof trusts typically triggers big tax bills kids safe for the executives, so Delta inflated the amounts to compensate for the extra taxes. Other troubled companies that have created similar trusts for executives include UAL Corp., parent of bankrupt United Airlines, and defunct steel concern LTV Corp.Lifetime life insurance. For awhile, split-dollar life insurance arrangements were all the rage among well-heeled executives. |
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| minimum was notorious: Executives who contributed salary and restaurant bonus money to its deferred compensation got an assured return of at least 12%.Lucent’s executive deferred compensation plan used to be similarly generous. Cash balances in the accounts accrued returns equal to five percentage points more than the prevailing 10-year Treasury rate. Recently the company eliminated the five-point bump, but execs restaurant still get relatively rich returns on their money since the 10-year T-Bill currently yields more than 4%. Compare that to restaurant the 1% or 2% your cash balances earn.The last time Mercer surveyed companies on executive retirement plans, in 1998, about half the companies that had deferred compensation for their leaders also guaranteed a minimum return. That percentage has probably fallen somewhat in recent years, Den Uyl said, as companies focus more on stock-based compensation.Shielding |
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