By Scott Rasmussen

Voters are understandably nervous every time Congress or the president talks about changing Social Security. The only way to fix the program is to remove the politicians from the way.

That means creating a legal right to promised benefits, establishing a Trust Fund Congress can’t touch, and allowing individuals to manage their own retirement age and tax payments. These three steps are practical, extraordinarily popular with voters, and would ensure the solvency of the Social Security system for generations.

The first step would legally obligate the Social Security system to pay all promised benefits to everyone who paid into the system. Most think that’s the way the system already works.

However, a 1960 Supreme Court ruling determined that no such legal obligation exists. Only 24% of voters today recognize that their future benefits are subject to the whims of Congress and the president.

The second step would be to create a truly independent Social Security Trust Fund where the principal and interest are fully protected for retirees. Sixty-three percent already think that’s the way it works. Rather than being part of the federal budget, these voters mistakenly believe it is a separate program paid for by the payroll contributions of workers.

There’s a reason people believe those things — it’s what politicians have been saying for decades. It is way past time to end these official lies by making the program what voters already believe it is.

Because of that long-ago court ruling, a constitutional amendment would be required to implement those reforms. Not surprisingly, however, 74% of voters would support such an amendment.

Once the amendment is ratified, what would an independent trust fund look like? It would be disastrous for the government to place that money in the stock market, and most voters oppose such a plan.

One reasonable approach is to have the fund buy bank Certificates of Deposit. To eliminate undue risk, perhaps the trust fund should start with the smallest banks and buy CDs equal to no more than 10% of a bank’s deposits. When that threshold is reached, the trust fund will buy CDs from the next, larger bank.

With the legal right to promised benefits established and an independent trust fund established, voter trust would be restored. Social Security would finally operate the way politicians have claimed since the 1930s.

With trust restored, the third step to fixing Social Security would be to make the trust funds financially solvent. The key to accomplishing this is by shifting decision-making away from politicians and giving every American more control over his or her retirement planning.

Voters should be free to adjust their retirement ages and Social Security tax payments. That approach is very popular and, as with any good exchange, an adjustment would benefit both parties. Every adjustment would make the trust fund more solvent and also create a retirement that better meets the needs of each individual.

Seventy percent of voters favor this approach, and only 18% are opposed. What would it look like?

A 70-year-old man could postpone benefits for an additional five years in exchange for a slightly higher monthly benefit later. This simple change would make the Social Security Trust Fund more solvent because it would pay benefits for fewer years. On the other hand, the man would have a slightly higher income when he turned 75. Or, of course, he might decide to defer payments again!

Another option might allow a 40-year-old woman to retire earlier by paying higher Social Security taxes for the rest of her career. The system would be stronger because of her higher tax payments and she would benefit from an earlier retirement.

Countless trade-offs would make sense to workers at various points in their lives.

Everyone would improve their retirement the solvency of the Social Security Trust Fund. A practical approach might allow younger workers to reconsider their plan every 10 years, while those nearing retirement might be able to adjust every five years.

Regardless of the details, these three steps to save Social Security are popular because they are all part of forcing Congress to keep their hands off our Social Security.

Scott Rasmussen is the president of RMG Research and the founder of the Napolitan Institute/InsideSources