In 1980 62% of private-sector employees with retirement benefits had a lifetime pension vs. 7% in 2008. The employee is now responsible for providing her/his own retirement income and usually has no idea what to invest in or when. Nor does s(he) know how much is needed to generate retirement income.

MarketWatch, The Wall Street Journal, Feb. 23, 2013– “10 things 401(k) plans won’t tell you”