A new plan for Retirement Pensions.
For anyone 55 and older, their benefits would not and should not change. For anyone between the ages of 40-55, they will have the option of either staying on Social Security or being put into the new plan. Anyone under the age of 40 would be automatically put into the new plan.
The new plan would be simple. 20% of the money taken out of a paycheck that is meant for Social Security would be put into a new privatized account for the people opting for the new plan. The rest of the pension would come from the Social Security funds.