What do you think this trend was due to, Macroeconomics

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What do you think this trend was due to

Problem

During the last two decades or so, we have seen a tendency for pension plans to move from defined benefits to defined contributions. What do you think this trend was due to?

Did this benefit the retirees or the plan sponsor?

Finally, and more importantly, what was the impact on capital markets?

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Macroeconomics: What do you think this trend was due to

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Macroeconomics: What do you think this trend was due to

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