Which of the following statements about retirement planning trends is correct? 1. The ratio of the work life expectancy to the retirement life expectancy has been increasing 2. The change in the number of defined benefit plans has resulted in a shift in risk from employers to employees. 3. The increased life expectancy, combined with reduced annuitized benefits has increased the risk of superannuation for retirees.

1 only. 2 only. 3 only. 2 and 3.