Lawmakers Weigh Social Security at 60 for Blue-Collar Workers, Waiving Early-Retirement Penalties
Updated
Updated · FOX 5 New York · Sep 24
Lawmakers Weigh Social Security at 60 for Blue-Collar Workers, Waiving Early-Retirement Penalties
3 articles · Updated · FOX 5 New York · Sep 24
Summary
Covered workers in physically demanding jobs could claim Social Security at age 60 under the Blue Collar Social Security Fairness Act without the usual early-retirement benefit cuts.
20 base points or 15 adjusted points would be required to qualify, with workers earning credit only in years they spend at least 8 months in a physically demanding job.
Adjusted points would rise with age—from 0.5 points for ages 18 to 34 to 2 points for workers 55 and older—favoring people whose later careers stay physically taxing.
$833.33 a month in earnings would be exempt from reducing retirement checks for taxable years after 2026 and before 2028 if the bill becomes law.
A qualifying job list would have to be published within 1 year of enactment and updated every 3 years, with examples from Rep. Haley Stevens' office including construction, roofing, nursing and manufacturing.