There seems little doubt that America faces a looming retirement-income adequacy crisis. By virtually every measure, employees haven't saved anywhere near enough to fund their retirement. To cite just a few of many studies on the subject, a recent McKinsey report estimates that the average American faces a 37% shortfall in the income needed in retirement. Boston College's Retirement Readiness Index estimates 51% of Americans will not be able to maintain their preretirement standard of living. And introducing potential health care and long-term care costs increases the index to 66%.