Ohio Democratic Congressman Dennis Kucinich is set to introduce legislation, which would lower the retirement age, in an effort to lower unemployment. An idea first proposed here on the Green Retirement Blog back in October of 2008.
Under the Kucinich plan, the first million workers who choose to participate, would be able to begin receiving Social Security starting at age 60, instead of the current minimum eligible age of 62, and they would also be able to obtain extended COBRA health insurance. The plan would cost $15 billion and would be payed for with re-paid bank bailout money.
The Kucinich early retirement plan is an excellent low cost idea, which would help Americans age 60 to 62 who have been laid off, help reduce unemployment, and help increase corporate profitability. Green Retirement strongly supports the Kucinich early retirement plan, and encourages everyone in the affected age group, to contact their congress person and ask them to co-sponsor the legislation.
Visit the Green Retirement Website to learn how you can retire early by saving the planet, try our free retirement calculators, and our free retirement planning. Also, if you are a teacher, or you know a teacher who is facing a layoff, try our free Teachers Early Retirement Calculator, to find out if the school board’s early retirement offer will allow you to retire.
2 responses so far ↓
1 Carl // Dec 11, 2010 at 8:13 pm
Well this sounds just about crazy enough to work. It certianly would not make matters any worse. they could use the interest from the bank bailouts and the car bailouts. I am not sure about the jobs it would create other than the people needed to process all the paper work which might take several years. During this time they and those that retired would be feeding money into the economy.
2 admin // Dec 13, 2010 at 10:54 am
Carl:
You make an excellent point, that I hadn’t thought of, which makes the case for lowering the retirement age even stronger. When someone retires, they start tapping into their retirement savings, and begin “feeding” that money into the economy – stimulating the economy even more. Thanks for your great comment.
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