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The latest blow: smaller payouts for new retirees Ken Hollis When finished college in the mid-1970s, he admitted work with the General Motors division that made auto parts and worked there for 23 years. When the division was spun off as Delphi, workers were told that their pensions will hold on to their new employer, Hollis says. So it s. .. People - Generations and Age Groups - Seniors - Shopping - Retirement