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**JimmyHas** · 08-03-2011, 11:08 PM

Of course, where we'll probably disagree is exactly which fundamental changes are the correct thing to do.

If it were up to me, Dis, we'd offer an option to current beneficiaries of continuing with the program as is or opting out and taking a tax credit for the remainder of any contributions plus, say, 10%. For those who have not started receiving benefits but have 25 or more years in contributions they'd get the same option with a reduced benefit but also be allowed to contribute up to 10% of their wages to a retirement plan tax free (like an IRA but without the contribution cap). For those with less than 25 years paid in they wouldn't get an option on receiving benefits but they would get the tax credit and be allowed to contribute up to 15% of their wages tax free.

For nothing more than the peace of mind of some folks I could also see establishing certain funds in which only "secure" investments (Treasuries) are allowed to be purchased or which are insured by the government up to a certain level. This would resolve the unease that a lot of people have with investing for retirement on the open market while still keeping the thieves in Congress from getting their hands on the funds.

08-03-2011, 11:08 PM	#19
JimmyHas Join Date Oct 2005 Posts 393 Senior Member	Of course, where we'll probably disagree is exactly which fundamental changes are the correct thing to do. If it were up to me, Dis, we'd offer an option to current beneficiaries of continuing with the program as is or opting out and taking a tax credit for the remainder of any contributions plus, say, 10%. For those who have not started receiving benefits but have 25 or more years in contributions they'd get the same option with a reduced benefit but also be allowed to contribute up to 10% of their wages to a retirement plan tax free (like an IRA but without the contribution cap). For those with less than 25 years paid in they wouldn't get an option on receiving benefits but they would get the tax credit and be allowed to contribute up to 15% of their wages tax free. For nothing more than the peace of mind of some folks I could also see establishing certain funds in which only "secure" investments (Treasuries) are allowed to be purchased or which are insured by the government up to a certain level. This would resolve the unease that a lot of people have with investing for retirement on the open market while still keeping the thieves in Congress from getting their hands on the funds.
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