U.S. Congress - S.145 Older Worker Opportunity Act of 2011
S.145 - Older Worker Opportunity Act of 2011
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. view all titles (2)
All Bill Titles
- Short: Older Worker Opportunity Act of 2011 as introduced.
- Official: 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. as introduced.
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Official Summary
1/25/2011--Introduced.Older Worker Opportunity Act of 2011 - 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 emploOfficial Summary
1/25/2011--Introduced.Older Worker Opportunity Act of 2011 - 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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