Retiring at age 50, he is guaranteed about $10 million by the time he is 60. Along with the $89,000 per month he gets other perks too numerous to mention. Contract calls for a 3 year non-compete clause meaning at age 53, he can go to work and earn another $10 million in pensions, non-compete, etc for, say, until he is 67, the age I retired and spent 20 years in public service earning an $110.00 a month pension. The GE exec gets seventeen years to make millions more and still be at 67, a relatively young man.
I will have been retired 21 years in March and I still feel "relatively" young.
Another reason why the unintentional poor hate the excesses of the rich. Rightfully so in most cases, especially this case. Still, President Obama's equalization plan is mostly wrong in it's approach to the situation.
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