openpolitics.com

100 CEOs Have More Saved Up for Retirement Than 41 Percent of U.S. Families Combined

Together, 100 American CEOs have more saved up for retirement than 41 percent of American families combined.

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

.. 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.

.. for all American households nearing retirement age, the median retirement-account balance is about $12,000. So, it’s not so much that these CEOs have a lot (they do) but that everyone else has next to nothing.