Taskforce on the Aging of the American Workforce Issues Report

The Taskforce on the Aging of the American Workforce, created as part of an effort to expand opportunities for older Americans choosing to remain in the workforce, and to develop proposals to address the challenges and opportunities of an aging workforce, has released its findings on (1) identifying strategies to enhance the ability of older Americans to remain in or re-enter the labor market and pursue self-employment opportunities; and (2) identifying strategies to enable businesses to take full advantage of this skilled labor pool.

According to Sen. Herbert Kohl, the report--"Report of the Taskforce on the Aging of the American Workforce"--provides "a broad overview of several legal and regulatory barriers," but "what we really need to focus on is creating innovative workplace practices and providing attractive employer benefits to facilitate the hiring and retention of older workers.”

The report presents strategies developed by the taskforce to address the most significant issues related to the aging of the American workforce. Among other suggestions, the taskforce recommends creating an interagency group to inventory the legal and regulatory barriers and disincentives to employment of older workers. The interagency will identify the pros and cons of specific approaches to addressing each barrier. The taskforce also recommends making educational resources on retirement and financial literacy available to older workers at One-Stop Career Centers and local Social Security Administration offices.

Source: U.S. Senate Special Committee on Aging Press Release (February 14, 2008)