The typical American household has less than $20,000 socked away for retirement and plans to supplement the remaining 59% of their savings with Social Security, according to a new report from Fidelity Investments.

The fund behemoth yesterday launched its Fidelity Retirement Index, which officials with the Boston-based firm call "a first-of-its-kind analytic index" and bases its findings on a survey of about 1,900 American households. Going forward, Fidelity plans to report on the index's findings twice annually. The firm concurrently announced plans to broaden its Retirement Income Advantage program.

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