This hybrid Social Security plan could help more people save enough for retirement

Alessandra Malito
This hybrid Social Security plan could help more people save enough for retirement

Imagine if Social Security were a hybrid system, with one part funded through payroll taxes and another operating similarly to a 401(k) plan. Along with the monthly benefit check that Americans already receive in retirement, retirees would have an additional pool of money to withdraw from, accumulated through years of contributions. Under this system, the fundamentals of Social Security wouldn’t change much.