What is a likely cost or tradeoff of each course of action?

PERSPECTIVE
Redefine the contract to make Social Security sustainable
QUESTION
What is a likely cost or tradeoff of each course of action?
ANSWER
If the retirement age is increased, Americans will have to stay in the labor force a year or two longer to qualify for benefits. Benefits for upper-income retirees would be reduced. Workers and employers would both be required to pay more in Social Security taxes.