Final answer:
The Older Worker Benefit Protection Act is designed to protect the benefits of older workers and ensures that waivers of rights are knowing and voluntary. It complements the Age Discrimination in Employment Act, which prohibits employment discrimination based on age.
Step-by-step explanation:
The Older Worker Benefit Protection Act (OWBPA) is a law designed to protect older workers from discrimination in the workplace, specifically in relation to benefits. It complements the Age Discrimination in Employment Act of 1967 (ADEA), which makes it unlawful for employers to discriminate against employees or applicants based on their age. The OWBPA provides that older workers can waive their ADEA rights only under certain conditions, such as being given at least 21 days to consider the waiver and having the right to revoke the waiver within 7 days after signing it. It also safeguards older workers in instances of workforce reductions, stipulating that any waivers of rights must be knowing and voluntary, and workers must be adequately informed. The statement 'It prevents hiring discrimination on the basis of age' pertains directly to the ADEA, while the OWBPA focuses on the protection of benefits and ensuring waivers of rights are not coerced.