A recent survey of 3,300 working Americans conducted by Putnam Investments disclosed that American households are on track to replace only about 64% of their current income in retirement -- significantly less than the 75% of income that most financial professionals recommend. 

To help address that problem, Putnam, a leading money management firm based in Boston, announced Wednesday that it is making available to client plan sponsors and their financial advisors a product called Lifetime Income Score, a tool it says will give employers and their advisors a way to help boost employees’ retirement savings.

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