Kucinich Plan to Create One Million Permanent Job Opportunities

For Immediate Release

Kucinich Plan to Create One Million Permanent Job Opportunities

WASHINGTON - Congressman
Dennis Kucinich (D-OH) will soon introduce legislation to create one
million permanent job opportunities for unemployed workers by
temporarily reducing the minimum age for Social Security early
retirement benefits.

“Many
older workers can’t wait to retire, while many younger workers
desperately need work.  My plan enables older workers to take early
retirement, thereby freeing up those jobs for younger workers who are
currently unemployed.  If just 25% of eligible workers choose to retire
early, we can very quickly open one million job opportunities.  These
are not temporary jobs, but permanent jobs that already exist in our
economy, even under the current recessionary circumstances,” said
Kucinich.
Nearly
70 percent of workers elect to take early retirement under current
rules, which allow eligible individuals to begin receiving a reduced
Social Security benefit starting at age 62. The Kucinich Plan would
reduce the eligibility age to 60 for the first million workers who want
to take advantage of an earlier retirement date.
The cost to the federal government of the expanded early retirement option would be less than $15 billion. The plan will impose no additional costs to Social Security,
since individuals electing to take Expanded Early Retirement will
receive a Social Security benefit, paid for entirely by money already
appropriated to deal with the financial crisis. The Kucinich Plan also
addresses the health insurance of these workers by expanding the
federal COBRA subsidy passed as part of the American Recovery and
Reinvestment Act.
“While
many workers want to retire because their jobs are physically
demanding, they continue to work for financial or health reasons. For
these workers, an early retirement can be a welcome relief.  Decades
ago the United Auto Workers negotiated with the auto companies to
secure early retirement and it was considered to be an advancement of
social progress.  My plan is a cost-effective way to create job
opportunities for younger workers while making it possible for older
workers to retire at 60 with the equivalent of their social security
early retirement benefit,” said Kucinich. 
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