you could invest your money in.

你想要投资的共同基金
This helped promote mutual funds dramatically and

这大大促进了共同基金的发展
it also created more of an investment culture in our society.

并在社会上营造出了更加浓郁的投资文化
That's where we are now.

这就是我们现在的处境了
The defined benefit pension plan is declining rapidly;

养老金固定福利计划正迅速衰退
ERISA is still not irrelevant because they're still important,

ERISA还没退隐江湖他们依然十分重要
but ERISA is becoming less and less important.

但已经越来越不重要了
We're moving on toward a country--

我们正朝着一个...
when you get your first job, the first thing you will get,

当你们找到第一份工作得到的第一样东西
I can predict, will be a 401(K) plan;

我猜就是401(K)计划书
and you're probably not be given a defined benefit pension.

而不是固定福利养老金计划