To provide some background on the matters of Pension Plans in America, and to whom the President who on his watch oversaw the implementation of a Pension Plan, a back story should be told.
While Governor of New Jersey, and before becoming President Woodrow Wilson applied to receive payment of his pension from the Carnegie Foundation for the Advancement of Teaching. Irregardless of whether or not the Foundation had written into its code the ability to access a pension while still employed in any manner, the fact of the matter is that Woodrow Wilson saw fit to receive his monies he felt due to him irregardless of position or income.
And that is the type of person who believes they require a pension, who holds it in truth that they are owed a pension, and will try to receive it. The original purpose of a pension, as held when first created under the umbrella of a nation, in Otto Von Bismarck’s Prussia, is to pay out after a certain age. Not so the case for Woodrow Wilson, he felt compelled to access a pension at the age of 54, and nearly 2 full years before being elected President.
Although preceeded in 1875 in a privately held manner through American Express Company for a pension plan. America under Woodrow Wilson and his policies oversaw the implementation of tax exemption status to pension plans of any kind. Further to that, after the implementation of these policies, America saw the size of its still active labor force over the age of 65 decrease from 60.1% in 1910-1920 to 17.5% in 1990-2000. In summary, not only did Woodrow Wilson decrease productivity, economic valuation and sustainability in this country, he also saw fit to give us all an example to follow that we should access pension plans as early and often as possible.
In 1919, during a somewhat lame duck session of the House, Woodrow Wilson’s pension policies also saw fit to create America’s very first Public Pension. To understand why you envy the public employee who seems to be able to do whatever he wants and retire earlier than you can, look no further than the man who enabled them. I see fit to label the 1919 Legislative Session in which these laws were passed as lame duck not because of party prominence replacement but rather due to a vast ideological shift. Woodrow Wilson, while indeed a leader of the Progressive Movement at the time, was the last President of his kind completing Teddy Roosevelt’s full impact as a President. Replaced by William Harding, an appeasement President, there was no chance for this legislation to be removed from the books in fast enough order.