30 And Out – The Retirement Plan We Never Had

May 15th 2019 – By: William Larsen – Civilians News – “News For All Views”

– “30 And Out” – 

In 2009, General Motors lobbied for 16.6 billion dollars in government subsidies. Furthermore, GM made this request under the assertion that funds would aid the company to produce more eco-friendly electric cars and insure their retiree’s pensions.

(*This 2009 report, summarizes GM’s request.)

Nevertheless, even 10 years ago, this request drew wide-spread skepticism over the issue of government spending. In fact, The Wall Street Journal even remarked, “the government could alternatively buy hundreds of thousands of new cars and simply give them to deserving citizens… for this amount of money.”

Nevertheless, today… I ask the question, “was that skepticism fair?” Particularly in the wake of how automakers spent those subsidies and how the automakers have done business, since that time… For example, today, I almost never see a Chevy Volt out on the road, which was one of GM’s main selling points, when lobbying for these funds, 10 years ago. Nevertheless, let’s re-examine this debate… from 10 years ago.

Now, what stands out to me… first and foremost…. isn’t the vast sum of money requested….. or that GM has yet to deliver on it’s promises, to this day (particularly pertaining to electric cars and the Chevy Volt)…. No, instead… what stands out to me is that GM’s retirement plans, which they sought to subsidize with these funds… are totally different than what we have today.

Specifically, when’s the last time that anyone heard the words, “30 and out?”

“30 and out?”

What is that?

“30 and out?” You mean that people used to retire after 30 years? And that’s exactly what it used to mean, in fact, the U.A.W. (United Auto Workers) apparently offered, “30 and out retirement plans,” back in 1971.

So…. today, I wonder… why hasn’t this topic been discussed more recently, in the American mainstream media? And why are we subsidizing outdated retirement plans?

Nevertheless, being a philosophical thinker…. I can only assume… these answers…… Yet, I believe that pension programs today have created leverage for large corporations. Furthermore, I believe that in the past these companies have leveraged their own worker’s pensions, when asking for government backed subsidies. This idea hearkens back to the concept of government bailouts… particularly for companies that were once considered, “too big to fail,” in essence using their own workers pensions, as bargaining chips, for government aid.

Which is to say… that I believe some companies, like GM, with large numbers of retirees, have essentially leveraged their retiree’s pensions for government for money, using, “default on their retirees pensions,” as a threat. This style of business… then in turn, basically twists the government’s arm for bailouts, which is why I believe that pension programs have slowly disappeared from the American work-place, over the past 4 decades.

And in conclusion, why don’t we just start calling the free market economy, “NASA?”

-William Larsen, Civilians News