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know that there is a growing trend for corporations -- largely in highly complex technology or health fields -- to establish programs that entice older or retired experts back to work.
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If you can provide some names, I'd probably like to apply to these companies before I reach the mature age of 55. My feeling is that job security and value for experienced employees ceased long ago when companies like IBM and GE started to lay off people en masse.
These are some of the companies I've come across that have some type of retiree rehiring or recontracting program.
• Aerospace Corporation
• Deere (tractor manufacturer)
• Geico
• Mitre Corp.
• Monsanto
• Frito-Lay
• GE Global Exchange Services
• GEICO
• GTE (purchased by Verizon)
• Lockheed Martin Missles and Fire Control (Dallas)
• Prudential
• Travelers
As I say, these programs are often informal and limited due to concerns about discrimination liability and tax issues under existing IRS regulations.
There is effort and apparent will to revise certain IRS regulations to accommodate these programs, because even though they are in their infancy, it is clear they are early responses to a growing need of companies to retain the knowledge and skills of retired employees who, for a variety of reasons, are interested in remaining active in their fields.
Donald, I thought we still had Boeing, General Dynamics and plenty of other defense contractors still making stuff for the DoD.
Sir, this activity is mainly in companies that have complex legacy systems such as mainframes. They are starting to realize the value of their old mainframe programmers, because they are the only folks who have anything like full knowledge of these ancient systems. So there are now incentives being created to keep these people around.
Personally, I'm thinking of moving to a low-cost country so I can pursue my enterpeneurial dreams here. If I can live lavishly on $20k a year, as is possible in places like the Philippines, it should be possible for me to build a web-based system that can still get me US-style money. It's a lot easier to be successful if your desired luxury lifestyle (home on the beach, DSL Internet, fancy food, etc) costs $20k instead of $200k, and you can hire educated workers for $4 a day instead of $100+.
I'm mulling over doing exactly that. We'll see how I do.
D