As traditional pension plans are increasingly being replaced by defined contribution plans, retirement income plan providers will need to adjust their tactics in order to keep up with the ever-changing retirement landscape.

"The retirement world has changed, and most people don't realize they're responsible for their own retirement," said Dennis Ackley, president of Ackley Associates, an employee communication consulting firm in Lee's Summit, Mo.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.