TheoWire

The CEO Health Plan

In Era of Givebacks, Some Executives Get Free Coverage After They Retire

Original publication date:

Thursday, April 13, 2006 - 00:00

At a time when companies are scaling back health benefits for other retirees, former top executives at many corporations are receiving partial or full lifetime medical coverage on top of pensions valued at millions of dollars, a Wall Street Journal analysis of dozens of recent securities filings indicates.

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How Lucent's Retiree Programs Cost It Zero, Even Yielded Profit

Trusts Paid the Tab -- Till Now; Facing Need to Use Cash, Company Imposes Cuts A Handy Tool for Downsizing

The Wall Street Journal

Original publication date:

Monday, March 29, 2004 - 00:00

Henry Schacht, Lucent Technologies Inc.'s former chief executive and still a director, met with retirees in 10 states last fall to explain why Lucent was cutting their medical and life-insurance benefits.

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How Cuts in Retiree Benefits Fatten Companies' Bottom Lines

Trimming a Health-Care Plan Creates Accounting Gains, Under Some Arcane RulesA Shield Against Rising Costs

The Wall Street Journal

Original publication date:

Tuesday, March 16, 2004 - 00:00

The loud message comes from one company after another: Surging health-care costs for retired workers are creating a giant burden. So companies have been cutting health benefits for their retirees or requiring them to contribute more of the cost.

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Well-Hidden Perk Adds Up To Big Money for Executives

Deferred-Compensation Plans Give Tax Benefits, But Are Poorly Disclosed and Add to Liability

The Wall Street Journal

Original publication date:

Friday, October 11, 2002 - 00:00

Last year, John R. Stafford, chairman of pharmaceutical giant Wyeth, earned $1.8 million in salary. He also was awarded a $1.97 million bonus, restricted stock valued at $724,283 and 630,000 stock options.

That much shareholders can learn from glancing at the company's proxy.

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Large Banks Quietly Pile Up 'Janitors' Insurance Policies

The Wall Street Journal

Original publication date:

Thursday, May 2, 2002 - 00:00

Some of America's biggest banks -- including Bank of America Corp., J.P. Morgan Chase & Co., and Bank One Corp. -- hold billions of dollars in so-called janitors insurance on their present and former employees. But investors may have a hard time finding much information in their Securities and Exchange Commission filings.

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Case Shows How 'Janitors Insurance' Works to Boost Employers' Earnings

The Wall Street Journal

Original publication date:

Thursday, April 25, 2002 - 00:00

How valuable is the business of managing what is known as "janitors insurance"?

One clue comes from a St. Louis court case, in which a financial-consulting firm won a $118 million jury verdict against Hartford Life Insurance Co., arguing that the insurance giant stole its method of administering these kinds of policies to smooth earnings.

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'Janitors Insurance' Issue Leaves Workers in the Dark on Coverage

The Wall Street Journal

Original publication date:

Wednesday, April 24, 2002 - 00:00

Scott Mayo, 41 years old, is alive and well. But extremely unhappy with his former employer, CM Holdings Inc., which took out a life-insurance policy on him. When he dies, the company, for which he worked as a store manager in San Antonio until early 1990, hopes to receive $336,814.