Permit American workers the right to opt out of their Social Security contributions (6.2% of their pay) reserved for retirement benefits, so that they may invest in their retirements as they see fit.
For those workers who decide to opt out of Social Security, they agree to invest a minimum of 5-10% of their pay into retirement accounts approved and monitored by the Securities and Exchange Commission (SEC) and managed by CFP and/or CPA firms within the private sector.
Those who opt out of Social Security will still contribute 0.5% of their pay into Social Security as an insurance in the event they outlive their privately saved retirement savings.
Employers will be required to match employee contributions up to the matching contributions within Social Security (currently 6.2%).