Thursday, February 17, 2005
Scraping by on $76,000 a month . While we debate the scourge and the glory of private accounts, I have to admit I've read nearly everything on the subject of Key Lay's retirement but somehow I missed this :Once the [variable] annuities reach maturity in February 2007, Kenneth and Linda Lay will be guaranteed monthly payments of $43,023 and $32,643, respectively, for life. For life ! I was hoping to hear those same two words in the context of Ken Lay's prison sentence. After all, he helped "privatize" thousands of his employees' retirement savings and investments right out of existence.
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