Haley Stevens Proposes Full Social Security at 60 for Manual Laborers
Updated
Updated · Yahoo Finance · Sep 27
Haley Stevens Proposes Full Social Security at 60 for Manual Laborers
3 articles · Updated · Yahoo Finance · Sep 27
Summary
Sept. 24 legislation from Rep. Haley Stevens would let some workers in physically demanding jobs claim unreduced Social Security benefits at 60 instead of waiting until 62 for reduced checks or 67 for full benefits.
The Blue Collar Social Security Fairness Act argues many manual laborers cannot keep working long enough to reach current retirement thresholds, forcing them to choose between no income and permanently lower benefits.
The bill would have the Social Security Administration define qualifying occupations and use a weighted point system so workers who spent only part of their careers in those jobs could still qualify.
At today’s rules, claiming at 62 cuts benefits by 30% versus a full-retirement age of 67; a worker due $2,000 a month at 67 could gain about $168,000 by receiving full benefits from 60.