Please explain these two questions, and explain it based on the defined contribution plan and 401(k)

1. What are some of the important factors that have influenced a typical baby boomer’s financial condition in his or her retirement years? Please list at least two.
2. What kind of problem(s) is the U.S. Social Security/defined benefit plan/defined contribution plan system facing respectively? What is(are) the challenge(s) in solving the problem(s)?

   Most employees do not have sufficient knowledge and the skill (Financial crisis). Low interest rate led to risky investments. Save too little and too late