|
E-mail this page to a friend!
Older Worker Act Introduced, Gets Key Co-Sponsor
Bill to help seniors, boomers stay in workforce
created by Sen. Kohl
Oct. 7, 2005 Today, Senator Herb Kohl (D-WI),
ranking Democrat on the Senates Special Committee on Aging, picked up a
key co-sponsor of a bill he introduced yesterday aimed at expanding
opportunities for older Americans and baby boomers to work longer if
they so choose. Senator Thad Cochran (R-MS), chairman of the Senate
Appropriations Committee, says he wants to join the Kohl effort.
The bill is designed to address problems faced by
workers who decide to forgo retirement and businesses who seek to retain
the experience of older workers and curb a major workforce drain as
seventy-seven million people quickly approach retirement age.
The legislation, the Older Worker Opportunity Act
of 2005, is also co-sponsored by Senator Richard Durbin (D-IL) and
would:
Establish a tax credit to employers who offer
flexible or phased work to older workers and protect them from health
insurance or pension loss;
Extend COBRA health coverage for older workers who
lose health coverage due to reduction in work hours;
Provide a tax credit for the eldercare of a loved
one;
Improve access to employment and training services
funded under the Workforce Investment Act;
Create a Federal Task Force on Older Workers
through the Department of Labor in order to examine additional barriers
faced by older workers and develop ongoing solutions that are helpful to
both businesses and older workers.
We face an historic challenge, and with it, an
historic opportunity, said Kohl. We need a 21st century workplace that
is a win-win for both older workers and their employers -- an effective
strategy for retaining our competitive advantage against other countries
facing the same demographic tidal wave.
Earlier this year, Kohl held a hearing in his
capacity as the lead Democrat on the Senates Special Committee on
Aging. Frank Robinson, Manager of the Washington Nationals baseball
team, testified on the importance of older worker retention and the
mental and physical benefits gained by continuing to contribute in the
workforce. Other witnesses, including older workers, the business
community and researchers, identified barriers that make it difficult
for older workers to work longer.
Many of the issues raised at the hearing are
addressed in the Older Worker Opportunity Act of 2005.
Click to More Senior News on the
Front Page
Copyright: SeniorJournal.com |
