Friday, July 18, 2008

Social Security Funded Vacations for Older Workers?

What are your thoughts on this?

We hear a lot about saving Social Security; and getting older workers to continue working and delay retirement is one of the ideas often offered. Working against this option, I think, is the downsizing of workforces and plant closings we have experienced in the past couple decades. When older workers who have several weeks of annual vacation time are forced to find new jobs that offer only a week or two of vacation many must find early retirement a more tempting option than it would be if they still had their vacation weeks each year.

Many older workers in new jobs had plans for the vacation weeks they lost - friends and family in different parts of the country they promised to visit or host for a week, trips they already scheduled and paid deposits on, a camper they bought in expectation of several weeks usage each year.

What do you think?

Would more older workers in new jobs continue working and paying into Social Security longer if they could afford to take, and were allowed to take, vacation weeks they had planned on?

On the other hand, would employers be less likely to hire older workers if they were required to give recently hired older workers more vacation time even if Social Security provided the additional vacation pay? Would younger workers demand an equal right of taking more time off, or would they be content that the future will offer them the same option if they have to change jobs?

Would such a plan seriously impact SSA operating expenses?

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