In the past 10 years or so,many employers have shifted from defined-benefit to defined-contribution retirement plans to reduce their financial risk in funding employees' retirements.

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This statement is true. Many employers have indeed shifted from defined-benefit to defined-contribution retirement plans in order to reduce their financial risk in funding employees' retirements. A defined-benefit plan promises a specific retirement benefit based on factors such as years of service and salary, while a defined-contribution plan (such as a 401(k)) allows employees to contribute a portion of their salary to an individual account, with the employer sometimes matching those contributions up to a certain amount. With a defined-contribution plan, the employee bears more of the investment and longevity risk, rather than the employer.

In the Past 10 Years or So,many Employers Have Shifted