The Inimitable Tiff

That’s right: Dennis Kozlowski (aka Prison ID 05A4820) and Mark Swartz aka (Prison ID 05A4823) — the two former top executives of Tyco (TYC) — have seen their executive retirements blossom while they’re sitting in their respective prison cells, according to a footnote buried deep in the 10K that Tyco filed last week.

In footnote #16, which is on pg. 150 of the 10K, Tyco discloses that the accrued benefit obligations for Kozlowski’s executive retirement, which he theoretically gets to collect when he turns 65, grew to $76 million for the year ended Sept. 28, 2008. That’s an increase of $5 million or a market-beating 7% (compared with the 20% the S&P 500 lost during the same period). Swartz did slightly better with $36 million turning into $39 million — an 8.3% return.