Why do you think companies have switched from defined benefit to defined contribution? Based on my parent's retirement saving history, I wonder if the switch is because:
In the past (20 to 30 years ago) people relied solely on defined benefit plans and social security for their retirement planning. I wonder if the baby boomers started realizing the potential shortcomings and decided to start saving for retirement on their own. Once employers started to see that employees were willing to use their own money to save for retirement, they started using that as a means to decrease their contributions.
What do you think?