In the last few decades, defined benefit (DB) plans have been largely replaced by defined contribution (DC) plans in the US workplace, especially in private-sector employment. What is one of the major risk management implications of this change?

Group of answer choices

A. Employers are much more likely to provide guaranteed monthly payments to retirees than they were in previous decades.

B. Employers are much more likely to provide pension plans for retirees than they were in previous decades.

C. Responsibility for investment risk has transferred from employee to employer.

D. Responsibility for investment risk has transferred from employer to employee