Your characterization of Clinton's plan is HALF true. Clinton did want to invest 20% of Social Security funds into the market instead of Treasury Bonds, however, his plan did NOT alter the fact that Social Security would remain a defined benefit plan, as it always was and continues to be. No individual or company contributions would have changed. The idea was that investing in the market generally provides better return on investment than investing in Treasury Bonds. In addition, he was working with budget surpluses as opposed to the deficits that Republicans generate.
The description of the Bush plan is accurate, as near as I could find.
"In his
1999 State of the Union address, Clinton proposed transferring $2.7 trillion of the budget surpluses to the Social Security trust funds — and investing 20 percent of the funds in the stock market, most likely in index funds. Clinton’s goal was to have about 14.5 percent of all trust fund assets in stocks. By 2014, it was estimated, the government would own nearly $1 trillion of the shares of U.S. corporations. The hope was that the higher returns from stock investments would help extend the solvency of the program as baby boomers moved into retirement."