Senator
Kohl introduces Older Worker Opportunity Act…seeks to retain
experience of older workers, curb workforce drain
Senator Herb Kohl (D-WI) has introduced legislation aimed at
expanding opportunities for older Americans and baby boomers to
work longer if they so choose. 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
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 Senate’s 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.