[cykotic]

In the U.S. bonuses are taxable income and the marginal rate of taxation for the bonuses comes at the high end of an employee’s tax bracket. In the U.S. corporate tax rates are lower than the income tax rate for high individual earners. Therefore, from a tax collection perspective, it’s good that the excess profit go toward bonuses.

Pensions don’t take a penalty. A penalty implies something being taken away from them or a charge to them. Nothing is being taken away from the pension.