My work history..............

[Bob Wright]

I was employed at three different firms during my working career, from 1959 to 2006. For forty-six years I was in the work force of America. During that time I did not go one day without having a job. Looking back:

1. In 1959, after being discharged from the Army, I went to work with Pittsburgh Plate Glass Compan, now PPG Industries.

2. In 1968 I left PPG and went to work with American Structural Drafting Co.

3. In 1975 I went to work with Industry General Corp. and its subsideries, Davco Corp and Allstates Fabricating Company. Later this became FKI Logistex.

While working for PPG, they entered the retail market and opened several retail stores in the Memphis area. Shortly after I left the company, they closed down all their stores and only recently have begun to open them again.

Shortly after leaving the drafting firm, it faltered, changed ownership, and is now defunct.

After my retirement, the FKI firm folded.

I had nothing to do with the demise of those firms. In fact, during my employment, they flourished.

I tend to think of myself as indispensable.

Draw your own conclusions.


Bob Wright

 

[blume357]

Depends on how you look at it.... seems when the economy is doing good or bad the two different parties always either take credit or give blame.

But you are to be commended for sure.... forty six years is a long haul.... looks like I only made about 40...

 

[Jeepnik]

None of the firms I have worked for are still in business. All folded their tents leaving me out of work. Not until I started my own business did I feel I had any control. It’s been just over twenty years and I’m more secure than ever.

Lots of work but well worth it.

 

[wheelgun1958]

At 61, I have worked at least 18 different jobs with different employers. I have been with my current employer for 23 years. The previous for 5 years.

 

[SAJohn]

Almost all of my working years were for the Navy. They did not fold when I retired. Does that make me dispensable?

John

 

[Jimbo357mag]

These days nobody's job is secure. The average employment is not very long. Insurance from your job is not what it used to be and finally there are almost no companies that offer pensions. People are pretty much on their own to pick their way through the employment puzzle today and who knows how all the medium and low wage people will survive in the future until retirement. :? :? :?

 

[caryc]

Almost all of my working years were for the Navy. They did not fold when I retired. Does that make me dispensable?

John

No, you just know a steady job when you see one. Also a fun club.

 

[wwb]

Graduated from college in June of '68, went to work for IBM..... drafted in August.
Separated from active duty in April '70... draftees with less than 5 months left were told to go home. (After you told them you didn't want to re-up)
Used the GI Bill, went back to college, got a Masters Degree in Mechanical Engineering.
Went to work for Bucyrus-Erie in '73, got laid off in '76. B-E is now part of Caterpillar.
Went to work for Drott Manufacturing. J.I.Case bought Drott, and closed the Wausau plant.
Went to work for American Hoist and Derrick in '79 - bean counter was put in charge, and everything went south shortly after.
Went to Manitowoc Engineering in '90, and in 2000, was offered a job I couldn't refuse with Mechanical Research & Design.
Retired in 2008.

7 different jobs (not counting summer jobs in the Minnesota iron mines during college)

 

[woodsy]

I am extremely curious about what positions you (the OP) had at those companies. Not because I question your importance, but to compare how your work might have mirrored (or not) mine, since the company histories (yours and mine) are quite similar.

 

[Bob Wright]

I am extremely curious about what positions you (the OP) had at those companies. Not because I question your importance, but to compare how your work might have mirrored (or not) mine, since the company histories (yours and mine) are quite similar.

My first job, with PPG, was a sales clerk, then salesman and store manager. That was really a go-nowhere job so I went to a drafting school to learn to be a draftsman. I got a job as a structural steel detailer which gave me very valuable experience. I went to work with IGC as a structural draftsman, then became a senior designer and finally senior mechanical designer (company titles). Worked as project manager, field engineer and general trouble shooter. Started out designing grain elevators and barge loading systems, then package sortation designs.

I was most fortunate, I had a job that I liked, I was good at my job, had a very nice office in which to work, and got out on job sites and got my hands dirty at times, too. I worked with very capable client's representatives as well as our own.

Bob Wright

 

[blackhawknj]

The traditional pension plan had several serious flaws. Since it was defined benefit rather than defined contribution, there was usually no allowance for inflation. Serious problems with vesting-when did it become yours ? No survivor benefits-pensions often died with the beneficiary. One acquaintance, his father worked for the same company for 30 years, died before retirement, his estate received nothing. Companies often raided pension funds, more recently scam companies such as Enron and WorldCom, their contributions to employee retirement plans consisted solely of stock, then they file Chapter 7 or Chapter 11 and.....

 

[427mach1]

Congrats to Bob Wright for remaining steadily employed for that long!

Not counting my experience working in 4 restaurants from 9th grade through college, I have held exactly one job for the last 33 years, working for Lockheed Martin as an aerospace engineer. Another year and I'll pull the D-ring and punch out!

 

[Kevin]

What happens to retirement pension plans when a company shuts down after a person retires?

 

[JFB]

. . . for the last 33 years, working for Lockheed Martin as an aerospace engineer. Another year and I'll pull the D-ring and punch out!

Thanks for keep the stock price strong!
(should I sell my 20 years of holdings before next year?)

 

[any ruger]

Worked 41 years in the mines in northern Mn. Two different ones one for 4/12years the other 37 1/2years. Now work doin small engine repair and tires. Sixty nine years young.

 

[Goldstar225]

I've had two real jobs in my lifetime. Went into the Army National Guard at 17 YOA in 1974, spent my summer vacation between the 11th and 12th grade in basic and AIT. Went full time Air Force when I graduated and retired effective Feb 1995. Started my career in law enforcement December 1994 (I was on terminal leave from the Air Force) and retired again Dec 2017.

The pay never was great but the pensions allow me a comfortable life that meets all my needs and some of my wants.

 

[427mach1]

. . . for the last 33 years, working for Lockheed Martin as an aerospace engineer. Another year and I'll pull the D-ring and punch out!

Thanks for keep the stock price strong!
(should I sell my 20 years of holdings before next year?)

Sorry, I can't give you any advice, that would be insider information!

 

[Dan in MI]

What happens to retirement pension plans when a company shuts down after a person retires?

It often goes to the Gov't (PGB.... something) and they give pennies on the dollar. Ask some RR and airline employees from years ago.

My company offered a lump sum or a pension. I took the lump sum for many reasons. 1) if my wife and I pass soon after retirement there is money for the family. 2) if the company goes belly up I have my money. 3) I think I can grow it versus it stagnating with the company.

As far as work record goes. I have been unemployed for less than five weeks since I was 10 years old. Paper route (4 yrs) pizza maker (9 months) bar help (2 years) swinging a hammer (9 months) mechanic (11.5 years) technician/engineer (28 yrs) there were times I had two jobs and for short a period even three. Add the time of multiple jobs over the short unemployment gigs (one stint of 14 days and one of 18) and I am way over being fully employed for 46 years.

 

[caryc]

What happens to retirement pension plans when a company shuts down after a person retires?

This will give you some info on that.

https://retirementmattersillinois.com/blog/what-happens-to-my-pension-if-my-company-goes-bankrupt

 

[powder smoke]

I had nothing to do with the demise of those firms. In fact, during my employment, they flourished.

I tend to think of myself as indispensable.

Draw your own conclusions.


Bob Wright

I have long ago!

 

[eveled]

A friend of mine wanted to hire me. I told him no. When he asked why. I told him because everyplace I’ve ever worked went out of business after I left. I don’t want to jinx your new business.

He hired me anyway. To this day he is the only previous employer of mine that is still in business.

 

[Dan in MI]

What happens to retirement pension plans when a company shuts down after a person retires?

It often goes to the Gov't (PGB.... something) and they give pennies on the dollar. Ask some RR and airline employees from years ago.

from the link provided.

The PBGC states that it currently guarantees payment of basic pension benefits earned by 44 million American workers and retirees participating in over 29,000 private-sector defined benefit pension plans.

What’s more common is that the PBGC caps how much of your pension is insured – which could mean only a portion of it is guaranteed

 

[eveled]

When I was in school I bagged groceries. On many of my school vacations I would take vacation at the store. Then find a full time job laboring for the week. I got to try out lots of different trades and make extra money.

Some times I’d work for free just for the experience. They usually paid me at the end of the week anyway.

By the time I was 19 my resume looked like I had 20 years worth of jobs. I also looked like I was 30. Lol!

 

[Rook]

I worked a number of jobs while going to school. After I finished school I worked for one company for over 20 years and the last place I worked for over 22 years. So basically I worked for 2 companies my whole working life.

 

[375supermag]

Hi...
I have a sort of varied work history
Had a couple of jobs in high school ..worked summers for the Tri county youth corps program for disadvantaged youth(my father had died and left us with nothing), then worked at a Kentucky Fried Chicken restaurant and then s truck stop pumping diesel fuel.
After graduation, I moved to Pittsburgh for college(Duquesne) but only went for a few weeks when the state wouldn't approve me for student loans( guess my mother's income as a waitress made us too affluent).

Found a job in a factory running a drill press, eventually transitioned to a warehouse position.
After a few years, I became the head of the receiving department. Worked there for 28-1/2 years until they started downsizing prior to closing up shop in 2001.
I then worked for a year and a half assembling printing presses before they also closed down.
Then in 2002, I went to work for the leading spice company in the country. I ran a receiving docks there for about 16 years until I returned from a health related period of disability.
They had given my job to another employee and refused to reinstate me to my previous position.
I worked long enough to pay off some debt and retired last summer at age 63.
I have some savings, two oensions, social security and own property and I am done working for others.

You can't trust any employer to treat you fairly...save your money, plan for retirement and get out if the work force as soon as you can afford it. Your employer doesn't care about you and will do whatever costs them less in salary and benefits. So don't feel bad about just walking in one day and telling them to go get stuffed and taking retirement.

 

[rugerguy211]

What happens to retirement pension plans when a company shuts down after a person retires?

In my case, the company went out of business after laying off most of the 150,000 worldwide employees over a 10 year period, and then selling the one remaining business unit to another company. The pension fund stayed in place and is being distributed by the company that bought the final business unit.
Folks who retired before the company ceased to exist were covered and lost nothing.

I left in 1994 after 20+ years of service and the pension fund has been growing since then.
We have the choice of taking a lump sum payment at age 65, or a more traditional monthly pension.