Chapter 1  Interested parties in retirement plans o Employees  Essential in financial security  Funding has changed significantly over the last 30 years • Not very often fixed pension • Now most of the burden of funding is in employees  As employer funding has decreased and life expectancy has increased employees have began to realize the importance of planning for retirement  Also becoming more interested in risk management benefits plans ex: insurance  Employers responsibility to communicate employersponsored employee benefit and retirement plans • Employee must take an active role in choosing and evaluating among benefits available  Most employees view retirement plan benefits as part of compensation  Not all workers are covered by benefit plans  Americans overall confidence in their ability to retire well is really high even though it shouldn’t be  Why do they have such high confidence • Don’t really know how much it will cost • Mentally postponing retirement �...