That doesn't mean employees are completely adrift. That's because defined contribution plans -- a fancy term for retirement plans such as the 401(k) -- are replacing old-style pensions. In fact, 95 percent of employers offer a 401(k), according to the Profit Sharing/401(k) Council of America.
The majority intend to automatically enroll their employees into 401(k) plans, while 54 percent do or will provide investment advice so wage earners can better manage their 401(k) accounts, Hewitt Associates reports.
