NU Online News Service, Sept. 16, 2004, 2:25 p.m. EDT
As the old defined benefit retirement plans give way to defined contribution plans, it has become increasingly difficult for workers to figure out how much income they will need in retirement, according to a new study from the Employee Benefits Research Institute in Washington.[@@]
Defined contribution retirement plans assign greater responsibility to workers in deciding how much money they will need coming in during retirement. And workers simply don’t know whether a given income will provide a comfortable level of support, says EBRI.