A bill to amend the Older Americans Act of 1965 to establish a program designed to provide continued employment opportunities for older Americans.

Amends the Older Americans Act of 1965 to direct the Secretary of Labor to make grants to or enter into contracts with specified public and private employers for the purpose of: (1) establishing part-time employment programs for persons who have retired or have reached retirement age; and (2) providing development and training assistance to such persons to help them obtain part-time jobs. Provides that Federal funds may defray up to 90 percent of the cost of any such project, and limits the use of granted funds for administrative expenses to 10 percent. Sets special requirements for such projects and authorizes appropriations in the amount of $50,000,000 for fiscal year 1978, $60,000,000 for fiscal year 1979, and $70,000,000 for fiscal year 1980.