Advertisement
YOU ARE HERE: LAT HomeCollectionsDeferred Compensation Plans
IN THE NEWS

Deferred Compensation Plans

FEATURED ARTICLES
BUSINESS
January 14, 1995 | KATHY M. KRISTOF
Little-understood risks about deferred-compensation plans are being uncovered in the Orange County financial debacle. County employees were told last week that they will lose 10% of the $85 million they collectively had saved for retirement in the county-sponsored plan. Instead of paying promised benefits, the county will use a portion of the workers' savings to pay other creditors--essentially confiscating money that public employees had earned and saved. Is that legal?
ARTICLES BY DATE
BUSINESS
October 10, 2003 | From Bloomberg News and Reuters
Robert Britz and Catherine Kinney, the top deputies of ousted New York Stock Exchange Chairman Richard Grasso, each stand to collect as much as $28 million in deferred compensation, people familiar with their pay said. The NYSE's co-presidents, elevated to their positions in January 2002, benefited from the same executive compensation plan that enriched Grasso.
Advertisement
BUSINESS
October 10, 2003 | From Bloomberg News and Reuters
Robert Britz and Catherine Kinney, the top deputies of ousted New York Stock Exchange Chairman Richard Grasso, each stand to collect as much as $28 million in deferred compensation, people familiar with their pay said. The NYSE's co-presidents, elevated to their positions in January 2002, benefited from the same executive compensation plan that enriched Grasso.
BUSINESS
September 23, 2003 | From Associated Press
A Manhattan bankruptcy judge authorized the committee representing Enron Corp. employees to collect some of an estimated $53 million in accelerated deferred compensation payments set aside for certain executives on the eve of the company's bankruptcy filing, lawyers said. New York U.S.
BUSINESS
March 12, 1995 | GRAEF CRYSTAL, SPECIAL TO THE TIMES; GRAEF CRYSTAL , editor of the Crystal Report and adjunct professor of organizational behavior and industrial relations at UC Berkeley's Haas School of Business, is a regular contributor to Sunday Business
It never ceases to amaze me that so many people are such ardent believers in the motivational value of money. Perhaps the most credulous of all are newspaper editors and reporters. They will dutifully report any evidence that suggests that Economic Man is alive and well in America--or, to put it more graphically, that any red-blooded American would gladly kill his mother for a quarter.
BUSINESS
September 23, 2003 | From Associated Press
A Manhattan bankruptcy judge authorized the committee representing Enron Corp. employees to collect some of an estimated $53 million in accelerated deferred compensation payments set aside for certain executives on the eve of the company's bankruptcy filing, lawyers said. New York U.S.
BUSINESS
May 29, 1994 | SUSAN CHRISTIAN and JOHN O'DELL, TIMES STAFF WRITERS
You wouldn't know it by looking at the chief executive's base salary, but Fidelity National Financial Inc. placed first among Orange County companies in stock appreciation over a five-year period. The nation's fifth largest title insurance companies, Newport Beach-based Fidelity saw the value of its shares increase more than tenfold. According to its proxy statement to shareholders, $100 invested in Fidelity shares in 1988 was worth $1,388.50 at the end of the company's 1993 fiscal year.
BUSINESS
August 10, 1997 | CARLA LAZZARESCHI
Q: Before I retired, I was enrolled in a deferred-compensation plan that I now want to begin to tap. Is there some way I can roll this money over into an individual retirement account first? I want to be taxed only on the amounts I actually withdraw over a period of several years. --J.K. A: A deferred-compensation plan is not the same as a tax-deferred retirement or savings account. Once a taxpayer takes possession of the account, the funds are entirely taxable.
BUSINESS
September 3, 1997 | From Reuters
Increases in the pay of the nation's top corporate executives over the last 15 years outpaced the growth of corporate revenues and profits, the Internal Revenue Service said Tuesday. Executive pay in 1995 surged to $307.6 billion, a 182% rise from $108.9 billion recorded in 1980, the IRS said in its report. During that time, corporate revenues rose to $14.6 trillion, a 128% gain from the $6.4 trillion in revenues reported in 1980, the data showed.
CALIFORNIA | LOCAL
August 7, 2010 | By Jeff Gottlieb and Ruben Vives, Los Angeles Times Staff Writers
Former Bell City Manager Robert Rizzo, whose $787,000 salary prompted widespread outrage, received an unusually large package of benefits that increased his annual compensation to more than $1.5 million, according to city records reviewed by The Times. Rizzo's benefits package -- which covers time off as well as retirement, medical and other types of insurance -- shows he was paid for time off that amounted to more than 20 weeks per year. Bell's new interim city attorney said Saturday that Rizzo's compensation package raised serious questions and that the city planned to investigate who approved the perks and whether they were legal.
BUSINESS
August 10, 1997 | CARLA LAZZARESCHI
Q: Before I retired, I was enrolled in a deferred-compensation plan that I now want to begin to tap. Is there some way I can roll this money over into an individual retirement account first? I want to be taxed only on the amounts I actually withdraw over a period of several years. --J.K. A: A deferred-compensation plan is not the same as a tax-deferred retirement or savings account. Once a taxpayer takes possession of the account, the funds are entirely taxable.
BUSINESS
March 12, 1995 | GRAEF CRYSTAL, SPECIAL TO THE TIMES; GRAEF CRYSTAL , editor of the Crystal Report and adjunct professor of organizational behavior and industrial relations at UC Berkeley's Haas School of Business, is a regular contributor to Sunday Business
It never ceases to amaze me that so many people are such ardent believers in the motivational value of money. Perhaps the most credulous of all are newspaper editors and reporters. They will dutifully report any evidence that suggests that Economic Man is alive and well in America--or, to put it more graphically, that any red-blooded American would gladly kill his mother for a quarter.
BUSINESS
January 14, 1995 | KATHY M. KRISTOF
Little-understood risks about deferred-compensation plans are being uncovered in the Orange County financial debacle. County employees were told last week that they will lose 10% of the $85 million they collectively had saved for retirement in the county-sponsored plan. Instead of paying promised benefits, the county will use a portion of the workers' savings to pay other creditors--essentially confiscating money that public employees had earned and saved. Is that legal?
BUSINESS
May 29, 1994 | SUSAN CHRISTIAN and JOHN O'DELL, TIMES STAFF WRITERS
You wouldn't know it by looking at the chief executive's base salary, but Fidelity National Financial Inc. placed first among Orange County companies in stock appreciation over a five-year period. The nation's fifth largest title insurance companies, Newport Beach-based Fidelity saw the value of its shares increase more than tenfold. According to its proxy statement to shareholders, $100 invested in Fidelity shares in 1988 was worth $1,388.50 at the end of the company's 1993 fiscal year.
CALIFORNIA | LOCAL
January 20, 1995
The time has come for the members of the Orange County Board of Supervisors to slash their own pay and staffs. At a public hearing last week, real people with real pain told the supervisors of their suffering because of the county's bankruptcy. The loss--newly set at $1.69 billion--and the resulting need for county budget cuts that will total at least $170 million within six months have caused more than 100 layoffs of county workers, with hundreds more expected.
NEWS
January 15, 1993 | KAREN TUMULTY and SARA FRITZ, TIMES STAFF WRITERS
Senate Republicans threatened Thursday to delay confirmation of Commerce Secretary-designate Ronald H. Brown unless he answers a new set of questions regarding his relationship with firms that administer retirement funds for the District of Columbia and other public entities. Brown has indicated that he will seek a waiver of a federal ethics law that would prevent him from making decisions as commerce secretary that could affect PEBSCO Municipal Securities Corp.
Los Angeles Times Articles
|