Older Worker Opportunity Act of 2007

A bill to promote labor force participation of older Americans, with the goals of increasing retirement security, reducing the projected shortage of experienced workers, maintaining future economic growth, and improving the Nation's fiscal outlook.

2/28/2007--Introduced.
Older Worker Opportunity Act of 2007 - Amends the Internal Revenue Code to allow employers who maintain a tax-qualified pension or retirement plan and who provide health insurance coverage a business-related tax credit for 25% of the first $6,000 of the wages of employees who have attained the age of 62 and who are participating in a formal flexible work program. Defines "formal flexible work program" as a work program:
(1) that consists of core and flex time;
(2) whose core time does not exceed 20 hours per week, three days per week, or 1,000 hours per year;
(3) that allows participation for at least one year; and
(4) that does not permit a change or reduction in the health care or pension benefits of the participating employee.


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Sponsor

• Sen. Herbert Kohl [D, WI]
• and 5 Co-Sponsors
  • Sen. Thad Cochran [R, MS]
  • Larry Craig
  • Sen. Richard Durbin [D, IL]
  • Sen. Blanche Lincoln [D, AR]
  • Sen. Olympia Snowe [R, ME]
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Committees

• Senate Finance

Amendments

This bill has no amendments.

Amendments to S.709

Number	Status	Purpose

Bill Status

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Introduced		Voted on by Senate		Voted on by House		Considered By President		Bill Becomes Law
February 28, 2007

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All Bill Actions

• Introduced on Feb 28, 2007.
• Feb 28, 2007: Read twice and referred to the Committee on Finance.

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Related Issue Areas:

• Taxation
• Employee health benefits
• Health policy
• Hours of labor
• 9 more
• Income tax
• Labor
• Medical care
• Older workers
• Pension funds
• Pensions
• Tax credits
• Tax-deferred compensation plans
• Wages

Data from the Congressional Research Service

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In the News

August 09, 2007 RetirementJobs.com Certifies Manpower Inc. and Schneider National ...

In February 2007, he introduced ‘Older Worker Opportunity Act of 2007’ (S.709), legislation designed to address problems faced by both workers who decide to ...

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Source: Business Wire (press release), CA

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Blog Coverage

March 27, 2008 Baby Boomer Pre-Retirement Tips: Kohl, Smith Release Report on ...

Last year, Chairman Kohl introduced two bills: the Older Worker Opportunity Act of 2007 (S.709) and the Health Care and Training for Older Workers Act (S.708), both of which would give older Americans the opportunity to work longer if ...

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Source: Baby Boomer Pre-Retirement Tips

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March 23, 2008 More Seniors Opting to Keep Working

A bill has already been introduced in the Senate (Older Worker Opportunity Act of 2007 S.709) that would address these issues. Between 2000 and 2005 the percentage of seniors in the workplace increased. This included the age category 65 ...

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Source: Martinsville Report

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March 04, 2008 Gesetzes-Entschlackung

I S. 709), zuletzt geändert durch Artikel 287 Nr. 48 des Gesetzes vom 2. März 1974 (BGBl. I S. 469), in Meereshöhe. 3. Die Zeitskala der koordinierten Weltzeit wird entweder durch Einfügen einer zusätzlichen Sekunde oder durch Auslassen ...

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Source: Auf den Punkt (knapp daneben)

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