Top 100 CEOs’ nest eggs equal those of 50 million US families, report says

The 100 largest retirement account savings among Fortune 500 CEOs as of the end of last year were worth $4.9 billion. That’s equal to the combined retirement account savings of 50 million American families, according to a report released Wednesday by the Center for Effective Government and the Institute for Policy Studies.

While nearly half of working Americans have no access to any work-sponsored retirement plan, the average payout for those top CEOs amounts to $277,686 in monthly retirement checks. For American workers who did have 401(k) retirement plans, the median balance at the end of 2013 was $18,433 — enough for a monthly check of $104.

Two advocacy groups published a report “A Tale of Two Retirements,” calling for an end to the unlimited tax-deferred compensation for corporate executives that exempts them from the annual contribution limits placed on ordinary 401(k) retirement plans. The report also recommends capping tax-deferred corporate-sponsored retirement accounts at $3 million.

The report includes information about pensions, deferred compensation and total retirement assets for the CEOs at 383 of the Fortune 500 firms.

Read more from the Kansas City Star

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