It’s a very real possibility, thanks to some generous tax-advantaged retirement savings options available to them — but not to rank-and-file employees.
At Disney, where median employee pay is $54,256, CFO Christine Mary McCarthy had amassed nearly $44 million in a nonqualified plan.
If annuitized, that balance might generate $3 million a month in retirement, IPS estimated.
Narrowing the retirement divideMany Americans face critical shortfalls in savings as they near retirement.
By contrast, the median 401(k) balance at Vanguard, a major provider of such plans, was just $33,472,” the IPS report notes.