In Age of Cuts, Some CEO Pensions Total Millions
At an annual $6.518 million, Pfizer's Henry A. McKinnell tops the list of the 25 largest CEO pensions.
As companies continue to scale back pensions for their workers, many CEOs are doing just fine. The AFL-CIO, labor's main umbrella group, says some corporate bosses will earn millions of dollars annually in retirement. This week, the group posted a list on the Web of the CEOs with the 25 richest pensions.
According to the Corporate Library, a big-business watchdog firm, the five best-compensated CEOs will bring in an average of $5.5 million a year from their pensions.
The Securities and Exchange Commission is writing new rules to make companies disclose more about CEO compensation. The SEC is expected to vote on the proposal later this year.
Top 25 Largest Annual CEO Pensions
- Pfizer Inc. - Henry A. McKinnell - $6,518,459
- Exxon Mobil Corp. - Lee R. Raymond - $6,500,000
- AT&T Inc. - Edward E. Whitacre - $5,494,107
- UnitedHealth Group Inc. - William W. McGuire - $5,092,000
- IBM Corp. - Samuel J. Palmisano - $4,000,000
- Home Depot Inc. - Robert L. Nardelli - $3,875,000
- Colgate-Palmolive Co. - Reuben Mark - $3,700,000
- Comcast Corp. - Brian L. Roberts - $3,600,000
- Bank of America Corp. - Kenneth D. Lewis - $3,486,425
- Union Pacific Corp. - Richard K. Davidson - $2,700,000
- Exelon Corp. - John W. Rowe - $2,600,000
- ConocoPhilips - James J. Mulva - $2,600,000
- Lockheed Martin Corp. - Vance D. Coffman - $2,591,856
- Robert Half International Inc. - Harold M. Messmer - $2,555,000
- BellSouth Corp. - F. Duane Ackerman - $2,512,300
- Anheuser-Busch Companies Inc. - Patrick T. Stokes - $2,500,000
- Mattel Inc. - Robert A. Eckert - $2,500,000
- Coca-Cola Co. - E. Neville Isdell - $2,500,000
- Prudential Financial Inc. - Arthur F. Ryan - $2,456,000
- FPL Group Inc. - Lewis Hay - $2,430,134
- Eli Lilly and Co. - Sidney Taurel - $2,300,000
- General Electric Co. - Jeffrey R. Immelt - $2,300,000
- Valero Energy Corp. - William E. Greehey - $2,236,000
- Countrywide Financial Corp. - Angelo R. Mozilo - $2,171,358
- PepsiCo Inc.- Steven S. Reinemund - $2,170,870
Sources: AFL-CIO, The Corporate Library
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