TIAA-CREF officials are sounding the alarm on retirement security, warning that the demise of the so-called “three-legged stool” of retirement funding is leaving Americans less confident that they can fund a comfortable retirement.

To deal with this, a TIAA-CREF official testified at a Senate hearing, employers must emphasize that attaining retirement savings goals is a shared responsibility between employers and employees, and accordingly should offer matching contributions that encourage employees to contribute.

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