Employees take charge: Retirement trends and troubles

A few decades ago, retirement planning was entirely about the employer. Defined benefits and pension plans were the norm, and most workers could expect to live well — or, at the very least, adequately — in retirement.

But more recently, the tide has changed. Much more emphasis has been placed on the employee’s role in their retirement plan. These days, employees are contributing to their plan, adjusting their savings amounts, and even choosing which funds to invest in. As employees take charge of their own retirements and younger generations learn from the mistakes of baby boomers, the industry has no choice but to adapt to the next generation of retirement plans.