Hartford Faience set retirement plan for employees

Local Firm Sets Plan For Employes

Retirement Program Covers All 110 Workers Of Hartford Faience

The Hartford Faience Co., local manufacturer of high-tension electrical porcelain, has established a profit-sharing retirement program covering its 110 officers and employes.

President G. Douglas Rankin said Monday the new plan is to start with an initial payment based on 1952 earning. This and future years’ payments will be placed in a fund trusteed by the Hartford-Connecticut Trusts Co.

Under the program, female employes upon reaching retirement age of 60 years and male employes upon reaching retirement age of 65 years will share in the benefits of the fund. Retirement is not mandatory, however. Employes can continue to work and receive benefits when they request retirement.

50th Anniversary

The new plan is another accomplishment of President Rankin, who next year will celebrate his 50th anniversary with the company. He is a native of Old Saybrook, attended schools there, and graduated from Trinity College in 1903. Mr. Rankin is well remembered for his athletic feats when at Trinity and after graduation when he excelled as a figure skater, hockey player and amateur boxer, all pastimes he pursued as a personal hobby.

Hartford Faience Co., was incorporated in 1894 as the Atwood Faience Co. The name was changed in 1900. Mr. Rankin served in all divisions and was elected president in 1933. His two sons, G. Douglas Rankin, Jr., and L. H. Rankin, serve the company as secretary-assistant treasurer and vice president general manager, respectively.