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     We offer for your consideration, a plan restructuring social security into a real trust fund that would make each individual owner of their own account with all the rights and privileges that go with it. Social security would become a real trust with the government being the grantor and putting money in each individuals’ account to fund it.

     After the government has funded the individual’s trust account, they can then choose to leave it in social security or put it into a personal private account like a mutual fund or I.R.A. managed by a professional financial investment advisor. Or, split it half and half between social security and a personal account.

     The money would remain in the personal account over a number of years and then be drawn out by a certain percentage to keep the trust fund from going broke. Example: 10% at age 60 to 70, 15% at age 70 and so on. No social security taxes would need to be paid anymore because people’s private trusts should grow enough over the years. So, when they retire, it will cover their living expenses. Also, not having to pay the tax could help make life better in your younger years.

     When a person dies the remainder of their trust fund would pass onto their beneficiary’s. 50% would be paid directly to the beneficiary and 50% would be put into their retirement account. The estimated amounts the government would put in to fund individual trust accounts would be by age: