Dennis Kucinich is floating a proposal around the Senate which would create a six-month period in which anyone age 60 can retire voluntarily and receive partial Social Security benefits. This is a $15 billion bill funded by the bailout and stimulus. Kucinich estimates that by offering retirement two years early, a million workers will leave their jobs, creating opportunities for those actively looking for work.
Although the plan sounds good in theory, I’m not convinced it would work in practice.
Right now, it’s unlikely that this proposal will become a law. Congress is working on a different set of ideas to stimulate job growth. Employment has traditionally been the last aspect of the economy to improve during a recession, but some experts predict it will be many years before employment levels return to previous levels. Some people may find themselves without expense-sustaining income for years.
Do you believe lowering the voluntary retirement age for six months would help improve employment conditions?
Published or updated February 22, 2010. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.