As the source below states, Social Security is not believed to be sustainable for the long term in its current form. As a result, experts have recommended several changes to its structure and to the distribution of benefits.
One proposed change in the distribution of Social Security benefits includes the idea of instituting private investment accounts. Though the exact form of these private investment accounts could differ, there are ways, according to the source below (and you should also consult the sources you have), to encourage Americans' savings and investment by providing default investment options that are financially sound. People who want to have more say over their investment allocations could also be given the latitude to control these choices. Therefore, the distribution of Social Security funds into private investment accounts might improve savings and benefit some investors.
Other experts, according to the source below, have advocated later retirement ages so that people can spend more time contributing to their Social Security accounts before taking money out of them. As people tend to be healthier and tend to work longer, the retirement age could be increased accordingly. Other experts have recommended instituting a policy that requires people to have been married for at least ten years before receiving spousal benefits under Social Security. All these changes would help sustain Social Security by reducing draws on it.
"Social Security in a Changing Environment: Findings from the Retirement Research Center at the National Bureau of Economic Research" by David A. Wise and Richard G. Woodbury. Social Security Bulletin, Vol. 69, No. 4, 2009