The documentary movie Retirement Gamble is written by Marcela Gaviria and Martin Smith and produced in 2013. It gives a great insight on the problem of America’s pension funds that have diminished vastly. The problem of retirements’ savings is not only about people who close to their retirement, it is especially actual for the adults in their thirties and forties years. Most of them cannot afford to contribute monthly money for comfortable life in old age. Some people are planning to retire at a later age, others never to stop working. The ones who are trying to insure reasonable living after retirement’s years by investing have to face the two things. First, they don’t have enough education how to manage their savings plans what is quite complex…show more content… Back in the day retiring used to be easier. In 1972, forty two percent of employees had a pension. They have a guarantee by your employer that you would get a percentage of your salary and benefits for your retirement. In the late 1970th the changes in longevity, new accounting rules, and market volatility made the cost of pension funds to high for the corporations. They started looked for the solution and find it in the loophole in Internal Revenue Service code. The 401k plan which started as corporate tax shelter became a new retirement system. The employers were able to shift the responsibility for the pension to the employees. All risk falls on individual now. The managers in the mutual fund industry saw it as a great opportunity. They are making arrangements with corporations and spending huge amounts on advertising to insure the mutual funds are the very foundation of the 401(k) plans. The problem is average actively managed mutual fund carries an annual expense of 1.3 percent. Some funds charge a fee of 2 percent, and even as high as 5 percent. According to analyze of national public policy center Demos “a median-income, two-earner household will pay nearly $155,000 over the course of their lifetime in 401(k) fees”. The bottom line is the 401(k) plans are not benefiting the individual middle-class…show more content… They should to do their homework on investment education to understand the fine print on hidden cost of annual expense fee the mutual funds charge for their services. The index funds can be a good alternative to actively managed mutual funds. Or individuals can try to wait for the law which creates new pension system. Definitely there is a need in government regulations to improve the situation over the problem of retirement’s savings. The few things happened since the film aired on April 23 2013. President Barack Obama endorsed a proposal from the Labor Department calling for the more stringent fiduciary standard on February 23, 2015 among the retirement brokers. Mary Jo White, the chairwoman of the Securities and Exchange Commission, endorse a same proposal on March 17, 2015. Securities and Exchange Commission Chief told that it is SEC responsibility to “implement a uniform fiduciary duty for broker-dealers and investment advisers where the standard is to act in the best interest of the investor.” In other words, retirement advisers would be legally enforced to place clients’ interest above their own. The opponents of an expanded fiduciary duty are pointing on the fact that new regulation only will force brokers to pass increasing cost on their clients, so hurting average Americans even more. The future of regulation on the market for retirement advice will be probably decided in