New bill would lower Social Security retirement age for some workers

Michigan Democrat Rep. Haley Stevens introduced the Blue Collar Social Security Fairness Act on Thursday, aiming to lower the retirement age for physically demanding jobs to 60. This would allow workers in fields like construction, nursing, and manufacturing to claim full benefits seven years earlier than the current age of 67 for those born after 1960.

Currently, those under 67 can start collecting Social Security at 62, but their benefits are reduced by 30% for each year between 63 and 66. Stevens argues that lowering the retirement age for blue-collar workers is crucial, as these jobs often involve physically demanding tasks. She believes no one should be forced to retire only when their bodies fail them.

The bill's introduction comes amid concerns about funding Social Security, with the trustees projecting that the key trust fund could run out by the end of 2032, leading to a more than 20% cut in benefits. Under the proposed system, workers would earn points based on years worked and age, needing at least 15 points or 20 years of work to qualify for retirement at 60.

The Social Security Administration would maintain a list of qualifying professions, updated every three years. Experts suggest other ways to strengthen Social Security, such as eliminating the income cap on the Social Security tax ($184,500) and raising the payroll tax. A recent poll found strong support for these ideas among both Democrats and Republicans.