The Way Things Were

Congratulations on your retirement, John

Eighty-three years ago, John G. Graham retired from the Granite City Steel Company in Illinois after fifty years. Imagine what the country looked like on that day in 1892 when he reported for his first day. I don't know what he did but he did it through a couple of depressions and during two world wars. There was no pension plan or Social Security when he entered the workforce. The company began a corporate pension plan in 1911. Social Security was not enacted until 1935. I don't know how long Mr. Graham lived or how much he received in retirement. He did get an engraved "gold watch". I bought it on Ebay less than 20 years ago and was happy to learn that the Granite City Steel Company was still in the steel-producing business. It appears he never took it out of the box. I wound it today and it runs like new. From what I have been able to learn, Granite City Steel is still in business but is a shadow of its old self. Defined benefit programs were discontinued by the company in 2002 after ninety-one years. I found it sad that this watch was sold on eBay rather than treated as a family heirloom. It is not an expensive watch and is maybe gold-filled or plated, at best. It was made by the Gruen Company which has been out of business for years. How does retirement look for you? For your children? For your grandchildren?