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Good News for Older Workers
Adriana of AARP just forwarded this to me. Looks like we're making some progress!
Legislation being introduced this week includes the following:
The Older Worker Opportunity Act of 2009, sponsored by Senators Kohl and Dick Durbin (D-IL).
Many older workers seek workplace flexibility in order to pursue hobbies or visit the grandkids, and many need flexibility to care for a loved one. This bill would diminish the barriers to part-time work for older workers, such as loss of health coverage and decreased pension benefits, by providing a tax credit for employers that employ older workers (age 62+) in flexible work programs. The credit equals 25 percent of an older worker’s wages, and expires after 2012. To be eligible, employers must (1) provide a qualified pension plan and (2) provide health insurance coverage and pay at least 60 percent of its cost. A “flexible work program” provides a full- or part- time flexible work schedule and full pension and health care benefits. This arrangement must be available to an older worker for at least one year and must be widely available to rank and file employees.
* A bill to make it easier to rehire federal annuitants, sponsored by Senators Kohl and Susan Collins (R-ME).
This bill would allow the federal government to rehire federal retirees part-time, without forcing the employee to reduce their salary by their pension amount, as under current law. While the individuals would receive both salary and annuity payments, they would not be considered employees for the purposes of retirement and would receive no additional retirement benefits based on their service.
* A bill to allow phased retirement for federal employees under the CSRS, sponsored by Senators Kohl and George Voinovich (R-OH).
This legislation would change the computation of Civil Service Retirement System (CSRS) annuities involving part-time service by correcting an anomaly that creates a disincentive for employees nearing the end of their careers who would like to phase into retirement by working part-time. Specifically, the legislation would clarify that CSRS annuities, based in whole or in part on part-time service, should be pro-rated for the period of service that was performed on a part-time basis. The correction allows agencies, as part of their succession planning efforts, to retain the expertise of senior staff who wish to work on a part-time basis at the end of their federal careers.
Last month, Kohl and Durbin reintroduced the Health Care and Training for Older Workers Act of 2009 (S. 281), which would extend COBRA health insurance from the time of retirement (ages 62 and up) until seniors become eligible for Medicare at age 65. The bill also improves access for seniors to federally-funded job training programs. Finally, the bill would establish through the Department of Labor a clearinghouse of best practices in the private and public sectors for hiring and retaining older workers, as suggested by the GAO’s report on the Comptroller General’s Forum on Engaging and Retaining Older Workers, released in February 2007.
# # #
To access the GAO study, click here: http://aging.senate.gov/letters/gaoolderfederalworkersstudy.pdf
For more information on the Aging Committee’s April 2008 hearing on the federal government’s efforts to hire and retain older workers, click here: http://aging.senate.gov/record.cfm?id=297184
Legislation being introduced this week includes the following:
The Older Worker Opportunity Act of 2009, sponsored by Senators Kohl and Dick Durbin (D-IL).
Many older workers seek workplace flexibility in order to pursue hobbies or visit the grandkids, and many need flexibility to care for a loved one. This bill would diminish the barriers to part-time work for older workers, such as loss of health coverage and decreased pension benefits, by providing a tax credit for employers that employ older workers (age 62+) in flexible work programs. The credit equals 25 percent of an older worker’s wages, and expires after 2012. To be eligible, employers must (1) provide a qualified pension plan and (2) provide health insurance coverage and pay at least 60 percent of its cost. A “flexible work program” provides a full- or part- time flexible work schedule and full pension and health care benefits. This arrangement must be available to an older worker for at least one year and must be widely available to rank and file employees.
* A bill to make it easier to rehire federal annuitants, sponsored by Senators Kohl and Susan Collins (R-ME).
This bill would allow the federal government to rehire federal retirees part-time, without forcing the employee to reduce their salary by their pension amount, as under current law. While the individuals would receive both salary and annuity payments, they would not be considered employees for the purposes of retirement and would receive no additional retirement benefits based on their service.
* A bill to allow phased retirement for federal employees under the CSRS, sponsored by Senators Kohl and George Voinovich (R-OH).
This legislation would change the computation of Civil Service Retirement System (CSRS) annuities involving part-time service by correcting an anomaly that creates a disincentive for employees nearing the end of their careers who would like to phase into retirement by working part-time. Specifically, the legislation would clarify that CSRS annuities, based in whole or in part on part-time service, should be pro-rated for the period of service that was performed on a part-time basis. The correction allows agencies, as part of their succession planning efforts, to retain the expertise of senior staff who wish to work on a part-time basis at the end of their federal careers.
Last month, Kohl and Durbin reintroduced the Health Care and Training for Older Workers Act of 2009 (S. 281), which would extend COBRA health insurance from the time of retirement (ages 62 and up) until seniors become eligible for Medicare at age 65. The bill also improves access for seniors to federally-funded job training programs. Finally, the bill would establish through the Department of Labor a clearinghouse of best practices in the private and public sectors for hiring and retaining older workers, as suggested by the GAO’s report on the Comptroller General’s Forum on Engaging and Retaining Older Workers, released in February 2007.
# # #
To access the GAO study, click here: http://aging.senate.gov/letters/gaoolderfederalworkersstudy.pdf
For more information on the Aging Committee’s April 2008 hearing on the federal government’s efforts to hire and retain older workers, click here: http://aging.senate.gov/record.cfm?id=297184
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