AFL-CIO Pushing for Federal Regulation of Corporate Salaries
Seeking to narrow the disparity between executive salaries and those of its constituents, the AFL-CIO released information recently about the most lucrative executive retirement deals in the country. As corporate America is slashing workers’ pensions left and right, we think investors and the public should know about the huge pensions these CEOs are raking in, said Ricahrd Trumka, secretary-treasurer of the union.
With that goal in mind, the U.S. Securities and Exchange Commission (SEC) is currently lobbying for greater disclosure of executive salaries and perks, though the Commission’s interests tend more toward protecting investors who themselves have been angered by what is often seen as overly lucrative executive compensation. Trumka and the AFL-CIO are urging the SEC to require companies to publicize their standards for tying executive pay to performance.
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