I can smell the golden parachutes now.
I know a number of older, competent people, who would were FAR below the "golden parachute" level, who have been "engineered" out of the work place (by those WITH "golden parachutes") primarily because they were compensated at a higher rate than a younger replacement would be.
Is that fair? That's debatable, but that's business...and no one on the receiving end of that equation likes it.