Sweeteners

The dwindling universe of companies that still offer traditional pensions to employees often give sweeteners to top executives. Exxon Mobil Corp. CEO Rex W. Tillerson’s pension was valued at $2.1 million in 2013. In addition, he had a supplemental pension valued at $21.1 million and an “additional payment plan” valued at $38.6 million, according to proxy filings.

About 1,000 U.S. executives at Exxon are on track to receive that sort of additional payout, based on the average of the three highest bonuses received in the last five years prior to retirement, according to proxy filings.

“Exxon Mobil maintains retirement and other employee benefits to attract and retain the best talent,” said Alan T. Jeffers, a spokesman for the company.

That’s good for the coveted top tier. For everyone else, workers must save whatever they can and make it last as long as possible. Pierce, the former Target worker, has about $150,000, including what he saved at Target. He’s living on $1,000 a month and hopes to find a less physically taxing job.

“If I live only eight or ten more years, I can get by, because I don’t have kids and my house is paid off, but if I have 20 or 30 more years, I’m worried,” he said.

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