New Retirement Advice Standard... Helping or Hurting Investors?

Fifty years ago, when factory/union workers comprised the American middle class, the majority of Americans’ retirement savings were company pension plans (defined benefit plans) created by an employer. As America evolved into a service economy, middle class workers experienced a drastic shift how they received their retirement benefits as defined benefit plans (DBPs) were largely replaced by defined contribution plans, such as 401Ks and IRAs.