The rich get richer

The Atlantic put up a startling statistic. The top 100 CEOs have more in their 401(k) plans than the combined savings of 41% of US families. That's a staggering disparity.

A brief excerpt:

The CEO with the largest nest egg on the report’s list was David C. Novak, the former chief of Yum Brands (which owns KFC, Pizza Hut, and Taco Bell), and now its executive chairman. At last count, Novak had nearly $250 million in his retirement account, according to the report, which got its data on CEOs from companies’ SEC filings.

For the purposes of comparison, the average Yum employee had about $70,000 in his or her 401(k). That means the Novak’s retirement savings are more than 3,330 times the size of the typical Yum employee’s, which makes the ratio of average CEO pay to average worker pay—300:1—look relatively small.

I have no doubt that each of the CEOs is a fabulously talented individual. That said, it seems to me that any corporation is built on the collective efforts of a massive number of individuals. There has to be a more enlightened way to extend some of that largess more widely.

Here is the link to the full article:
http://www.theatlantic.com/business/archive/2016/03/ceos-savings-more-than-41-percent-americans-combined/476124/