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Usage:

...employer's plan. "I will have to be 75 before I can retire," he told the committee. "I've had a heart attack and I don't know if I can last until then." Two Detroit machinists formerly employed by the Michigan Tool Co., Earl MacLeit and George Silver, told similar tales of woe. Each of them was laid off after more than three decades of steady work when Michigan Tool's parent company, ExCellO Corp., decided to move the Detroit operation to North Carolina. The men were not invited to relocate. Now they subsist...

Author: /time Magazine | Title: Business: Pensions: Pitfalls in the Fine Print | 8/23/1971 | See Source »

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