I'm afraid I agree with Ted, it's not a cheap fix because it's never very easy and as a result it ends up as a new motherboard job.

Even if the fault is a only a failure of the plastic ring and the motherboard is not damaged it is still quite tricky to remove the socket.

The components that go through the motherboard tend to be interference fit then wave soldered. The clearance between the pins of the socket and the hole in the motherboard is that small that it's almost impossible to remove the solder so that the pin is actually free. You have to get all the solder melted on all the pins at the same time and remove the socket in one go without applying that much heat that the pcb is damaged.

Not to mention trying to get the exact replacement socket....