The news is increasingly grim for those heading into their retirement years.

The long-term viability of Social Security is in question, and an increasing number of companies are being forced to restructure, or even default on, their pension plans.

The lesson here is that every person must take an increased level of personal responsibility for his or her retirement years.

But as this idea takes hold, it should not be used to undermine the social contract that brought us to Social Security and workplace pension plans in the first place.

While individual responsibility is important, and will become increasingly so, there is a shared responsibility for the well-being of our seniors that must not be forgotten.

The latest news on this front comes from a study produced by Boston College, which found that 43 percent to 66 percent of all American families will fall short of what they should have to remain secure in retirement.

The bitter advice of those who reviewed the study is for people to work longer, save more and stay healthy.

There is a bright side to this picture. One of the reasons retirement planning is falling short is that people are living longer.

But the lesson here is that planning formulas that once might have made sense no longer do.

For individual families, the prescription is clear: Save more and invest in ways that do not depend on Social Security and pension benefits to cover all your costs. Relatively modest amounts of money set aside today will pay off enormously in the years ahead.

At the same time, Americans individually and collectively should be vigilant about protecting and enhancing the rights they have earned over the years. The social contract must remain strong.