Respond to the following in a minimum of 175 words PLEASE TYPE RESPONSE:

Today, approximately three-fourths of workers covered by pension plans are covered by defined contribution plans, roughly one-fourth by defined benefit plans. This represents a radical shift from previous years when the traditional defined benefit plan was far more common. In fact, many new companies are terminating long-standing defined benefit plans and substituting defined contribution plans. Can provide the three main reasons why companies are shifting and give examples?