‘(e) Requirements- A program shall not be considered a formal flexible work program under this section unless such program meets the following requirements:
‘(1) DURATION OF PROGRAM- The program shall allow for participation for a period of at least 1 year.
‘(2) NO CHANGE IN HEALTH CARE BENEFITS- With respect to a participant whose work schedule is no less than 20 percent of the work schedule of a similarly situated full-time employee--
‘(A) such participant shall be entitled to the same health insurance coverage to which a similarly situated full-time employee would be entitled,
‘(B) the employer shall contribute the same percentage of the cost of health insurance coverage for such participant as the employer would contribute for a similarly situated full-time employee, and
‘(C) such participant shall be entitled to participate in a retiree health benefits plan of the employer in the same manner as a similarly situated full-time employee, except that service credited under the plan for any plan year shall be equal to the ratio of the participant’s work schedule during such year to the work schedule of a similarly situated full-time employee during such year.
‘(3) NO REDUCTION IN PENSION BENEFITS-
‘(A) DEFINED BENEFIT PLANS-
‘(i) A participant shall be entitled to participate in a defined benefit plan (within the meaning of section 414(j)) of the employer in the same manner as a similarly situated full-time employee.
‘(ii) Service credited to a participant under the plan for any plan year shall be equal to the ratio of the participant’s work schedule during such year to the work schedule of a similarly situated full-time employee during such year.
‘(iii) If the plan uses final average earnings to determine benefits, final average earnings of the participant shall be no less than such earnings were before the participant entered the program.
‘(B) DEFINED CONTRIBUTION PLANS- A participant shall be entitled to participate in a defined contribution plan (within the meaning of section 414(i)) of the employer in the same manner as a similarly situated full-time employee, and the employer shall match the participant’s contributions at the same rate that the employer would match the contributions of a similarly situated full-time employee.
‘(C) NO FORFEITURE OF PENSION BENEFITS- The pension benefits of a participant shall not be forfeited under the rules of section 411(a)(3)(B) or section 203(a)(3)(B) of the Employee Retirement Income Security Act of 1974 with respect to a participant who has attained normal retirement age as of the end of the plan year.
‘(4) NONDISCRIMINATION RULE- Eligibility to participate in the program shall not discriminate in favor of highly compensated employees (within the meaning of section 414(q)).
‘(f) Certain Individuals Ineligible- For purposes of this section, rules similar to the rules of section 51(i)(1) and section 52 shall apply.
‘(g) Regulations- The Secretary may prescribe such regulations as are necessary to carry out the purposes of this section, including simplified rules to satisfy the requirements of subsection (e)(3)(C) taking into account the requirements of section 411 and section 203 of the Employee Retirement Income Security Act of 1974.’.
(b) Credit Made Part of General Business Credit- Subsection (b) of section 38 of the Internal Revenue Code of 1986 is amended by striking ‘plus’ at the end of paragraph (34), by striking the period at the end of paragraph (35) and inserting ‘, plus’, and by adding at the end the following new paragraph:
‘(36) the flexible work credit determined under section 45R(a).’.
(c) No Double Benefit- Subsection (a) of section 280C of the Internal Revenue Code of 1986 is amended by inserting ‘45R(a),’ after ‘45P(a),’.
(d) Clerical Amendment- The table of sections for subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new item:
‘Sec. 45R. Flexible work credit.’.
(e) Effective Date- The amendments made by this section shall apply to wages paid after December 31, 2009.
SEC. 3. FEDERAL TASK FORCE ON OLDER WORKERS.
(a) Establishment- Not later than 90 days after the date of enactment of this Act, the Secretary of Labor shall establish a Federal Task Force on Older Workers (referred to in this Act as the ‘Task Force’).
(b) Membership- The Task Force established pursuant to subsection (a) shall be composed of representatives from all relevant Federal agencies that have regulatory jurisdiction over, or a clear policy interest in, issues relating to older workers, including the Internal Revenue Service, the Social Security Administration, the Equal Employment Opportunity Commission, and the Administration on Aging of the Department of Health and Human Services.
(1) AFTER ONE YEAR- Not later than 1 year after the date of establishment of the Task Force, the Task Force shall--
(A) identify statutory and regulatory provisions in current law that tend to limit opportunities for older workers, and develop legislative and regulatory proposals to address such limitations;
(B) identify best practices in the private sector for hiring and retaining older workers, and serve as a clearinghouse of such information; and
(C) assess the effectiveness and cost of programs that Federal agencies have implemented to hire and retain older workers and recommend cost-effective programs for all Federal agencies to hire and retain older workers.
(2) AFTER THREE YEARS- Not later than 3 years after the date of establishment of the Task Force, the Task Force shall--
(A) assess the effectiveness of the provisions of this Act; and
(B) organize a Conference on the Aging Workforce, which shall include the participation of senior, business, labor, and other interested organizations.
(3) REPORT- The Task Force shall submit a report to Congress on the activities of the Task Force pursuant to paragraph (1). Such report shall be made available to the public.
(d) Consultation- In carrying out activities pursuant to this section, the Task Force shall consult with senior, business, labor, and other interested organizations.
(e) Applicability of FACA; Termination of Task Force-
(1) FACA- The Federal Advisory Committee Act (5 U.S.C. App.) shall not apply to the Task Force established pursuant to this Act.
(2) TERMINATION- The Task Force shall terminate 30 days after the date the Task Force completes all of its duties under this Act.